{"id":18273,"date":"2016-02-25T19:53:20","date_gmt":"2016-02-26T00:53:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18273"},"modified":"2016-02-25T19:53:53","modified_gmt":"2016-02-26T00:53:53","slug":"an-escalating-war-on-cash","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18273","title":{"rendered":"An Escalating War on Cash"},"content":{"rendered":"<table cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"middle\">\n<h3><a href=\"http:\/\/www.europac.com\/commentaries\/escalating_war_cash\" target=\"_blank\">An Escalating War on Cash<\/a><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div class=\"clear-block\">\n<div id=\"node-17693\" class=\"node\">\n<div class=\"content clear-block\">\n<div class=\"field field-type-computed field-field-commentary-disclosure\"><\/div>\n<div class=\"field field-type-computed field-field-share-buttons\">On February 16th, The Washington Post printed the article,\u00a0\u201cIt\u2019s time to kill the $100 bill.\u201d\u00a0This came on the heels of a CNNMoney item, the day before, entitled \u201cDeath of the 500 euro bill getting closer.\u201d\u00a0The former\u00a0cited\u00a0a recent Harvard Kennedy School working\u00a0paper, No. 52 by Senior Fellow Peter Sands, concluding that the abolition of high denomination notes would help deter \u201ctax evasion, financial crime, terrorist finance\u00a0and corruption.\u201d In recent days, former Treasury Secretary Larry Summers, ECB President Mario Draghi, and even the editorial board of the New York Times, came out in support of the elimination of large currency notes. Apart from the question as to why these calls are being raised now with such frequency, the larger issue is whether these moves are actually needed or if they merely a subterfuge for more complex economic manipulations by central banks to extend control over private wealth.<\/div>\n<div>\n<div>In early 2015, it was reported that Spain had already limited private cash transactions to 2,500 euros.\u00a0Italy and France set limits of 1,000 euros.\u00a0In France, all cash withdrawals in excess of 10,000 euros in a single month\u00a0must be reported to government agencies.\u00a0In the U.S., such limits are $10,000 per withdrawal. China, India and Sweden are among those with plans under way to eradicate cash.<\/div>\n<div><\/div>\n<div>On April 20, 2015, the Mises Institute reported that Chase, a subsidiary of JPMorgan Chase and a bailout recipient of some $25 billion (ProPublica, 2\/22\/16), had announced restrictions on its customers\u2019 ability to use cash in the payment of credit cards, mortgages, equity lines and auto loans.\u00a0Before that, on April 1, 2015, Chase, in concert with JPMorgan, updated its safe deposit box lease agreement to provide, \u201cYou agree not to store any cash or coins [including gold and silver] other than those found to have a collectible value.\u201d<\/div>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>An Escalating War on Cash On February 16th, The Washington Post printed the article,\u00a0\u201cIt\u2019s time to kill the $100 bill.\u201d\u00a0This came on the heels of a CNNMoney item, the day before, entitled \u201cDeath of the 500 euro bill getting closer.\u201d\u00a0The former\u00a0cited\u00a0a recent Harvard Kennedy School working\u00a0paper, No. 52 by Senior Fellow Peter Sands, concluding that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[1035,1034,12647,233,280,11992,12646,3284,1044,1921,12308,4927,5228],"class_list":["post-18273","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-cash","tag-cashless-society","tag-cnnmoney","tag-ecb","tag-euro","tag-euro-pacific-capital","tag-john-browne","tag-larry-summers","tag-mario-draghi","tag-new-york-times","tag-peter-sands","tag-war-on-cash","tag-washington-post"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18273"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18273\/revisions"}],"predecessor-version":[{"id":18275,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18273\/revisions\/18275"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}