Post
Topic
Board Economics
Re: A bankster in the UK wants to ban big bills
by
n2004al
on 29/09/2015, 08:39:28 UTC
...

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...

The War on Cash is ramping up.  Another terrible idea as part of the campaign to destroy our privacy.  Read all about it:

http://www.zerohedge.com/news/2015-09-25/goodbye-100-bill-ex-central-banker-demands-all-high-denomination-banknotes-should-be

There are factors that inhibit this request. Not only this. But request bigger banknotes while the time goes on. One of those factors is inflation. The inflation make that if today I buy the bread 1 dollar after ten years I will buy it 10 dollars. If we make comparisons with other goods which cost more and if we will accept the request of this banker to buy something which today cost 1 000 us dollar and after ten years 10 000 us dollars. in the day of shopping we must have a big sack with us full with banknotes with low value and two police man which must guard me from the thieves.

It is another think if it will be "invented" a deflationary economy. In that case the proposition is totally possible. I want to make a parenthesis here: This could be possible if every country in the world (or even one) adopt a currency similar with bitcoin. That economy could be (have the possibility) to be deflationary.

But with our situation I think that the future will deserve always banknotes with bigger value and not abolish they that actually have the biggest value.