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Won't happen.
WickedBrut 27 Reviews 384 reads
posted

This is not much different than the other extreme--getting rid of pennies. Every five or six years since 1965 someone has pointed out that it costs more to mint pennies than what they're worth. And some little movement revs up, writing articles and appearing on NPR and usually at least some 6-minute segment on network news.

Then, every time, some joe blow caller or an unenthused moderator asks, "What happens to State sales tax? How would be pay them?"

That shuts all the gee-whizzers up and the whole great idea goes away.

MissLALove3672 reads

What will we all do when this happens? Providers and clients

Related Link: http://www.zerohedge.com/news/2016-11-16/war-cash-intensifies-citibank-stop-accepting-c...

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Dr Who revived629 reads

These will be put in circulation shortly.

Good by Ben

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FatVern407 reads

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Jacque_Jenesais514 reads

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Jensen36363563 reads

However before any business of bank starts refusing $ they will need to get the legal tender laws changed. Also, there's a difference between eliminating cash and eliminating large denomination. And it's not the first time. There used to be a $1000 bill that circulated I believe and a $100,000 bill that banks used to settle things up with each other and the Fed Reserve. Those bills really are not needed any longer since most settlement in electronic.

That said it's just another reminder I should go back to an idea I've had and see about moving it a bit further along.

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mrfisher461 reads

Anyone who has tried to buy something on an airliner with cash will know that this is true.

I fear that the end of good old hard currency is in the fix, the signs are everywhere.

This will be a boon to outfits like Bitcoin, but I'm concerned about that and besides, they leave electronic trails anyways.

Bartering might become the coming thing, but who knows

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FatVern402 reads

I believe cash will be around as long as their is oil.

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Jensen36363526 reads

Well unless you signed something to that effect you have merrily take the meal, drink, pillow, headset or whatever and then point them to the law about the money being good to "settle all debts public and private". That said, I believe there is a written clause when you buy the ticket that speaks to purchases so that's one way around it. Whether it's legally binding or not.... Never heard of anyone testing it -- though I suppose one might look into the history of the old "company stores" in the early part of the 20th Century for some possible cases.

Whether or not the law needs to change to reflect 21st Century realities is a different issue, as is the question of largely anonymous exchange (at least to 3rd parties)

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mrfisher350 reads

then send us a postcard from Gitmo.

That's the way the fuckin' airlines are these days

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BigPapasan543 reads

Related Link: https://www.youtube.com/watch?v=cb2w2m1JmCY

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mrfisher233 reads

Related Link: Here come the choo-choo

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coeur-de-lion367 reads

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stucaboy335 reads

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RobbinYoung454 reads

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WickedBrut385 reads

This is not much different than the other extreme--getting rid of pennies. Every five or six years since 1965 someone has pointed out that it costs more to mint pennies than what they're worth. And some little movement revs up, writing articles and appearing on NPR and usually at least some 6-minute segment on network news.

Then, every time, some joe blow caller or an unenthused moderator asks, "What happens to State sales tax? How would be pay them?"

That shuts all the gee-whizzers up and the whole great idea goes away.

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mrfisher538 reads

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GaGambler357 reads

Would it really be so hard to round to the nearest nickel, or even the nearest dime for that matter?

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Jensen36363496 reads

Not on financial trades they don't. I've seen prices with 4 digits after the decimal. ;)

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GaGambler404 reads

and by necessity we already round to the nearest cent, would it really be so hard to round to the nearest nickel, or even the nearest dime.

Also even when buying securities priced in the hundredths of cents, the transaction itself is rounded to the nearest cent, or do you EVER recall getting a statement where your account was credited or debited in a number not rounded to the penny. Your account should be balanced "to the penny" not to the "tenth of a penny" lol

Nice try though.

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RomeoMike440 reads

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sophiastjohn549 reads

I think there has been an ongoing effort since shortly after 9/11 to monitor cash in this country for anti-terrorism efforts, and that is most likely going on in other countries as well.   However with that said there most definitely has been a concurrent war on accountability with all cash overall (in my opinion in the name of anti-terrorism) but to also go after all illegal markets.   There has been rumblings in the US towards getting rid of the $100 bill as well as a means towards that end.

 

Posted By: MissLALove
What will we all do when this happens? Providers and clients ?  
   
 
Related Link: http://www.marketwatch.com/story/why-larry-summers-wants-to-take-away-the-100-bill-2016...

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Jensen36363436 reads

That is 100% correct. The original justification was terrorism and organized crime -- and now it's about a lot more.

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MissLALove442 reads

I suppose we would find a way! :) I'm just one of those people who reads many articles, and thought I'd share.  

Posted By: MissLALove
What will we all do when this happens? Providers and clients ?  
   
 

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vantheman666545 reads

I pull out large wads of cash from my account and use it for everything.  I even go into the rental office and pay cash.  That also makes it easier to spot suspicious activity in my bank account.

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GaGambler483 reads

Since everyone knows rent is due on the first, an apartment rental office handling a complex of several hundred units could easily have a hundred grand or more of cash on hand on the first couple of days of each month, making them a very big target for robbery. Can you imagine being responsible for hundreds of thousands in cash each month for the pittance those people are paid? People are killed each day for hundreds of dollars or even less, much less hundreds of thousands.

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perfectstorm427 reads

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isawonereview490 reads

any bill larger than a $100 bill is due to: 1) lack of use and the actual need of the $500, 1k,10k, & 100k bills. 2) counterfeit - would you rather have someone make a fake $100 bill or a fake $100,000 bill? Which would cause more damage? They stopped printing large bills in 1945. The larger bills were stopped long before that.
As to ending cash, or the other crap-conspiracy theories mentioned in this post - it'll never happen in our lifetime's, at least.

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perfectstorm522 reads

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isawonereview362 reads

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vantheman666391 reads

As a matter of fact, I don't use the airport anymore.  I couldn't stand security protocol pre-9/11, and I know it's even worse now.  If I ever come to Hawaii, it will be by ferry.

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