A bankster in the UK wants to ban big bills - page 3.

deisik

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Quote from: RealBitcoin on September 27, 2015, 09:06:00 AM

Quote from: deisik on September 27, 2015, 05:55:43 AM

Bank of England? Last time I checked Great Britain was not part of the Euro zone (and they were going to leave the EU at that), nor was it one of the cantons... What did I miss?

Shouldn't they better ban the British pound first (some part of)?

Bank of England is a shareholder of the ECB and has 13.6743% share of the ECB

https://en.wikipedia.org/wiki/European_Central_Bank#Shareholders

What about Swiss frank? Do they have a hand in it too?

RealBitcoin

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Quote from: deisik on September 27, 2015, 05:55:43 AM

Bank of England? Last time I checked Great Britain was not part of the Euro zone (and they were going to leave the EU at that), nor was it one of the cantons... What did I miss?

Shouldn't they better ban the British pound first (some part of)?

Bank of England is a shareholder of the ECB and has 13.6743% share of the ECB

https://en.wikipedia.org/wiki/European_Central_Bank#Shareholders

gentlemand

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Welt Am Draht

The biggest note in the UK is the £50 note. In my entire life I have handled one three times. Each time not a single business would accept them and I had to go to a bank to deposit it instead. Looks like it's a voluntary ban to me.

Q7

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If they come up with the ban on big notes, and people have to resort to using huge stacks of smaller notes and the banks are charging negative interest rate for keeping your money there, what would that mean? Eventually people would be left with limited option but to turn to banks. Not sure how would that help.

Denker

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Quote from: markj113 on September 27, 2015, 07:39:26 AM

Quote from: NorrisK on September 27, 2015, 06:31:44 AM

I can't see I would mind them banning these bills. When do you ever use them nowadays? Any big purchase will be done through a bank transfer anyway.

I hardly carry cash with me anymore, just use the card.

Start with the big bills, then the medium, then all the others.

The banks will own your ass and you wont be able to fuck all about it.

Therefore we're having crypto currencies.People who know how things work will have ways to mave around the banks.I'm not really worried about that to be honest.

markj113

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Quote from: NorrisK on September 27, 2015, 06:31:44 AM

I can't see I would mind them banning these bills. When do you ever use them nowadays? Any big purchase will be done through a bank transfer anyway.

I hardly carry cash with me anymore, just use the card.

Start with the big bills, then the medium, then all the others.

The banks will own your ass and you wont be able to fuck all about it.

Denker

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Quote from: NorrisK on September 27, 2015, 06:31:44 AM

I can't see I would mind them banning these bills. When do you ever use them nowadays? Any big purchase will be done through a bank transfer anyway.

I hardly carry cash with me anymore, just use the card.

To me it's completely the opposite.I pay as much as I can with cash. And on my bank account I only have the amount of money deposited which I need to pay my monthly fixed bill with (rent, telephone, insurance).

NorrisK

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I can't see I would mind them banning these bills. When do you ever use them nowadays? Any big purchase will be done through a bank transfer anyway.

I hardly carry cash with me anymore, just use the card.

moneyart

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Yes, the central banksters want to ban big cash notes (and even cash at all). The reason is, that they want to trap you into the bank when the system crashes like in Greece.

When the inflation arrives the normal citizen we need 10000$ bills in cash or even more.

SimpleIn

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People are crazy to many ideologies are spread accross the wirld ... i bet if the chinese governament decides to take all its rightful debt from USA - it will be the end of the american population

deisik

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Quote from: cjmoles on September 27, 2015, 06:06:10 AM

They've already banned the big bills in the USA. I guess too many people carrying suite cases full of 10 thousand dollar bills was too easy! Well, look at us now...we don't even need a suitcase, just a flash drive!

These are still in existence today, since the federal reserve is known to hold billions of dollars in gold certificates, which these bills had been used for (as payments between federal reserve banks and the US Treasury)...

This is roughly some 400 bitcoins

pedrog

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500 euro note are mainly used in black markets, money laundering and other illegal activities that require huge amounts of cash to be moved anonymously.

In the majority of countries that's what they are used for, I never had even one of those notes, I've seen a few.

The minimum wage in my country is 505 euros, so there's not much use for such notes and I always assumed they were created to facilitate high profitable illegal markets, considering 1 million euros in 500 euro notes weights only 1.6 kg.

cjmoles

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They've already banned the big bills in the USA. I guess too many people carrying suite cases full of 10 thousand dollar bills was too easy! Well, look at us now...we don't even need a suitcase, just a flash drive!

deisik

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Quote from: OROBTC on September 26, 2015, 12:01:05 AM

...

A bankster at the Bank of England (Charles Goodhart) wants to ban 500 Euro notes as well as 1000 Swiss Franc (that would be some $1050) notes as well. That will get tongues wagging in the USA to ban our $100...

Bank of England? Last time I checked Great Britain was not part of the Euro zone (and they were going to leave the EU at that), nor was it one of the cantons... What did I miss?

Shouldn't they better ban the British pound first (some part of)?

Snorek

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Quote from: RealBitcoin on September 26, 2015, 07:52:41 PM

They are already enacting laws to ban purchases with sums larger than 5000€ in cash.

This is not so that they can track mobsters, this is capital control and banker takeover.

Regulations like these are only good against law abiding citizen. Criminals and mafia don't care about it.
It is true that we don't have many of these control freak lunatics running around and paper money is safe for now.

RustyNomad

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Quote from: RealBitcoin on September 26, 2015, 07:52:41 PM

They are already enacting laws to ban purchases with sums larger than 5000€ in cash.

This is not so that they can track mobsters, this is capital control and banker takeover.

This is true, they can call it what they want to but its nothing more than a form of capital control. It will obviously be 'sold' to us with the line that it's for our own safety because this will help them to track terrorists and mobsters and by doing so make the 'world' a safer place for all of us.

RealBitcoin

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They are already enacting laws to ban purchases with sums larger than 5000€ in cash.

This is not so that they can track mobsters, this is capital control and banker takeover.

BCwinning

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Quote from: Possum577 on September 26, 2015, 01:01:39 AM

It all bodes well for bitcoin, which provides the anonymity and ease of cash.

bitcoin isn't even close to being as anonymous as cash and will never ever be.
Get your facts right.
Oh and I don't need to spend a "transaction fee" to make sure someone takes my cash.
try that with bitcoin and see how long it takes before it confirms..

Linuld

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Quote from: RustyNomad on September 26, 2015, 05:07:33 PM

With cash out of the way the problem of bank runs will be a thing of the past.

Keeping your money in a bank nowadays is the same as keeping all your bitcoin in an exchange wallet/account. Its yours but the control you have over it can be taken away at the push of a button.

Yes now days it is quite risky and also it is not safe to keep money with us also because of two things. First we may spend all money faster because of easy access and secondly some one can take them all so I your country if you have a back which is backed by your government then that should be better option to keep the money instead choosing private banks

jbrnt

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You have to admit, those denominations are too high to have any practical everyday use. Shops don't have enough change to accept these notes. Banning these will not affect our lives at all. If these notes notes are makes it easy for criminals to hide and transport illegal money, banning them makes sense. This isn't about banning cash for all of us.

Quote from: OROBTC on September 26, 2015, 12:01:05 AM

A bankster at the Bank of England (Charles Goodhart) wants to ban 500 Euro notes as well as 1000 Swiss Franc (that would be some $1050) notes as well.

Quote

Such concerns have festered for years. In 2010, U.K. banks and money-exchange services stopped distributing 500-euro notes after a report showed that 90 percent of demand for them came from criminals. An internal Bank of Italy study the previous year described how such bills were accumulated by mafia money launderers, terrorists and tax dodgers because they’re easy to hide and transport.

Topic: A bankster in the UK wants to ban big bills - page 3. (Read 3997 times)