Charles W. Eliot, Professor at Harvard University, former Director of the National economic Council in the White house, claims that former US Treasury Secretary Larry summers, who is poised to chair the new owner of the fed, called for the withdrawal of cash from circulation hundred dollar bills.
“He is surely right, says Charles W. Eliot. — Million dollar banknotes of 500 Euro (at exchange rate) weighs only 2.2 pounds (about one kilogram). A million dollars out of $ 100 is placed in a small case, so these money are the ideal tool for any illegal (from the point of view of the U.S. government — ed.) activities.” For reference, the same million, but made $20 bills, pulls as much as 50 kg.
According to Larry summers, the world would be better if America refuses Benjamins. Interestingly, this influential academic in the US the financier (as it is presented in professional circles) refers to the French experience, which was implemented in September 2015.
Recall that Paris has imposed restrictions on payments in cash totaling up to 1000 Euro, reducing the previous threshold of 3000 euros. French Finance Minister Michel Sapin explained its decision as follows: “the Terrorists are using cash to buy things that they need. These killers are dressed and shod, they buy cell phones, cars and so on, to accomplish their atrocities. Why not limit them to the cash?”.
Opposition leader Joseph Salerno responded with his usual malicious irony, they say, Michel Sapin, as “naked and barefoot terrorists and suicide without cell phones, of course, less efficient than dressed and with communication”.
However, if you look at the decision of the French government about reducing the limit of cash circulation, you can read the following: “given the gravity of the situation and the stagnation of the French economy limit to foreign tourists for cash foreign currency payments will remain higher than for citizens of the Republic, and will amount to 10,000 Euro. It will be reduced from the previous level of € 15,000. Without ID French resident has the right to convert euros into other currencies, and Vice versa, in the amount not exceeding 1000 Euro”.
In other words, the measures of the Ministry of Finance of France does not actually affect the interests of foreign and local criminals, but only against law-abiding citizens.
First, there is the potential for interference in personal life. Secondly, complicated by financial settlement. Joseph Salerno believes that Paris uses every opportunity to replenish the Treasury through multiple tax administration. Without doubt, this step is dictated solely by the dire state of the French economy.
Among the countries that have imposed such restrictions include Russia, Italy, Spain, Mexico and Uruguay. In this regard, Larry summers tirelessly tells ordinary Americans that in these countries, strict limits on cash transactions have a positive impact on the fight against corruption, and the business out of the shadows. Charles W. Eliot also uses this dubious assertion to prove the rightness of Larry summers.
American financiers also tells about the European desire to abandon banknotes of 500 euros, which in mafia circles is called the “bin Laden”. So, the head of the European office for combating fraud Giovanni Kessler spoke out strongly against the banknotes with that face value.
But the reasoning behind the decision on the withdrawal of hundred dollar bills from circulation is quite different, says renowned economist Paul Joseph Watson. According to him, “this is just a ploy for the real agenda.”
Recall that of the $ 1.4 trillion. paper U.S. currency that is in global circulation, $ 1.1 trillion. falls on’s Benjamins. Exchange this amount of cash in $ 50 bills, or transfer them to electronic invoices confiscate from circulation at least 15-25% of all the money, experts say. We are talking about the technical losses.
Recall that in our country also conducted similar monetary reform, called “Pavlovsk” in honor of the Prime Minister of the USSR Valentin Pavlov. Approximately the same mechanism offers Larry summers, setting, however, a transition period.
“For Central banks this modest proposal will help much easier to untie NIRP (negative interest rate), writes Paul Joseph Watson. — In the scrap leaves 78% of all American money.” What beautiful tales not told the financiers on wall Street, and any protective mechanisms for the exchange would not have been provided by the Washington population, in reality the banks will dictate the terms of crazed customers. In other words, the aim of destroying paper alternative to the dollar and the introduction of total digital entry in the accounts of the Federal reserve is, first of all, NIRP. This, of course, fighting with a crazy national debt of the United States.
And hard steps in this direction have been taken. Already, the U.S. justice Department ordered U.S. banks to call the police for questioning customers who wish to withdraw $ 5000 in cash. Assistant attorney General Leslie Caldwell called “notify law enforcement authorities about this issue,” since the law allows a police officer to “initiate an investigation”, “to withdraw” or to block them during the investigation. This is done in the first place, in order to avoid the shock currency reform directly in the United States. Other countries, apparently, Americans are not interested in.
Financial blogger Simon Black told a story that happened to him when he tried to withdraw their money from the account. “I was waiting for an unexpected surprise: two police officers who would like to talk about my intention to get cash. Banks already act as “unpaid government spies.” Another blogger Mac Slavo reported that faced with insurmountable obstacles when trying to buy a used car for cash as that was wanted by the seller.
In addition, the White house tries to gain control over the world’s business and political elites who keep their stashes in the U.S. currency. This was told to the influential worldwide politiconomic Martin Armstrong who predicted black Monday in 1987 and the Russian default of 1998. He claims that there was at least one secret meeting of the heads of the ECB and the fed, as well as representatives of the Swiss banking community on this issue.
Armstrong believes that a ban of cash is for the purposes of confiscation and aims to avoid “catastrophe Keynesian policies of the Central banks of the major powers”. He calls this proposal of Larry summers is nothing more than economic totalitarianism of the USA.
And most importantly, Larry summers proposes a monetary reform in the near future, and then to withdraw from circulation $50 note.