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A hobbyist, curious about the killing of Benjamin....
oargerela 110 Reviews 816 reads
posted

Is the elimination of Benjamin ($100 Dollar Bill) effects how you hobby? Just wondering, you have to factor in, how much times to book, reason is the amount of cash you have to bring with you, without the big bills, it's tough to carry a bag/bulk of 20's especially when you booked multiple hours..

And ladies you can chime in too, how's the element of trust factor in this issue, meaning, do you take your time to count if a proper amount of donations agreed is exact, takes a few minutes to verify all that bulk of small bills....

It’s time to kill the $100 bill
http://nhatnet.com/its-time-to-kill-the-100-bill-washington-post.html

-- Modified on 2/21/2016 9:36:16 AM

coeur-de-lion361 reads

happen.  Inflation makes it impractical.  In Europe, both Euros and Pounds come in 500 unit denominations.  I use them all the time when traveling.  Otherwise, the bulk of smaller bills are hard to conceal and make you a target for robbery.

If it ever does happen, it will be because the US gov wants to go paperless so they can monitor everything electronically that we do financially.  I'll be dead by then, so no worries from me.  Lol

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oargerela345 reads

I'm not too confident about the idea that it will NEVER happen, reason is the study from Harvard got some attention in Washington and European Industrial Nations. They have concluded that by eliminating the high value currencies will significantly slows down the financing of terrorist, drug lords and other criminal syndicate, the future might not be too far.

The paperless and electronically monetary transfers, that will be a challenge for us to deal with, with our hobby activities, hopefully the ladies can figure out some apps, devices or apparatus that is secure and discreet to protect our privacy when comes to money transfers, that we can use... just wondering, hmmm.  

http://www.debatepolitics.com/breaking-news-mainstream-media/247230-its-time-kill-100-dollar-bill.html

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Oldtimemonger251 reads

I think it could happen 10 years from now but I don't think it will happen anytime soon.

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Jensen36363343 reads

Banks are already establishing some person-to-person payments and while it's true that's a documented transaction if we move to all payments being like that there will just be too many to make these payments stand out as unusual.

I'm sure there are other ideas too -- obviously the crypto currencies like BItCoin (I believe there are several others). I've got an idea that's been rolling around in my head for a year or so but I've still not quite figured out who to try taking it to or how to present it once I've got I know is original and a patent pending on. I'm far from the smartest person I know so I'm sure some other people out there are thinking about this as well -- hopefully most are not working for the governments ;-)

The other thing is gift cards. This may or may not come with some higher transaction costs. If the provider can use them just like money that's good. I suspect some will not want to run around with 10 or 15 cards and will want to deposit funds into their bank or investment accounts so they would need to sell the cards which will be discounted a bit perhaps in the 5 to 10 % range? Suspect that's not really monitored but could be and then these would probably stand out. I don't know but suspect most of the cards traded in will have low amounts with the higher amounts being retailer specific (and the person not interested in items sold).

Just some thoughts on that.

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coeur-de-lion258 reads

a few years ago not to sit on gift cards.  If the company that issues them does into any type of bankruptcy proceeding, even a reorganization, the cards are a pre-petition debt and may be completely worthless, or else redeemable at cents on the dollar.

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Naughtyfrederica262 reads

Just kidding...It will pass, at least in my humble opinion. It will help the Govt cut printing costs and help them monitor all financial transactions and activity closely as the public will have to utilize electronic transfers and methods for payments of large amounts.  But there are ways to bypass this. The wealthy who usually book escorts for weekends and trips have ways to pay  discreetly.  However you have to ask the individual escort or agency how they do it.
Frederica

Related Link: Frederica DeNere

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Jensen36363252 reads

For get the name of the song and not 100% on the artist but think it's John Lee Hooker but there is a great old blues song that talks about the bills based on the face on them -- as the song goes, those Cleveland's are hard to get ;-)
 

Posted By: Naughtyfrederica
Just kidding...It will pass, at least in my humble opinion. It will help the Govt cut printing costs and help them monitor all financial transactions and activity closely as the public will have to utilize electronic transfers and methods for payments of large amounts.  But there are ways to bypass this. The wealthy who usually book escorts for weekends and trips have ways to pay  discreetly.  However you have to ask the individual escort or agency how they do it.  
 Frederica

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