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View Full Version : Why $100 Bills and €500 Notes May Soon Be Killed Off


Tom Joad
02-18-2016, 07:52 AM
I really don't like this at all.

I put it in the conspiracy forum because I think the government's real motive is to move us to a cashless economy so that they can track our every transaction. :mad:


http://time.com/money/4226174/kill-100-dollar-bill-500-euro-phase-out/

Large currency denominations are associated with crime. They also make it easier to withdraw large cash sums from banks.

continue (http://time.com/money/4226174/kill-100-dollar-bill-500-euro-phase-out/)

donquixote99
02-18-2016, 07:54 AM
The real motive is to move to a cashless society so the banks can charge us for every transaction.

JJIII
02-18-2016, 08:36 AM
The real motive is to move to a cashless society so the banks can charge us for every transaction.

Bam! Give the man a Kewpie Doll! :)

Tom Joad
02-18-2016, 09:05 AM
A $100 dollar bill today is roughly equivalent to a $10 bill when I was a child first learning the value of money in the 1950's. Today a $10 bill is worth about what a $1 bill was back then, and a buck today buys what a dime used to. So why is a $100 bill considered too big? If you ask me, we need more of them, not less, and we ought to even consider bring back the $500, maybe even the $1,000.

I don't like all these electronic transactions made with plastic cards so I always carry three or four hundred in cash. To do so I have to have my wallet stuffed with 20's to the point where it's hard to close. It pisses me off. But 20's are all I can get out of the ATM. To get decent sized bills I have to go to my credit union and trade in my 20's for 50's or 100's. But then if you try to spend them the cashier at say the grocery store tries to guilt trip you by giving you a funny look, then holding the bill up to the light and squinting at it, and then finally taking out a magic marker and putting a stripe on it before stashing it under the drawer instead of in it. What the fuck is that all about?

Boreas
02-18-2016, 09:13 AM
A $100 dollar bill today is roughly equivalent to a $10 bill when I was a child first learning the value of money in the 1950's. Today a $10 bill is worth about what a $1 bill was back then, and a buck today buys what a dime used to.

I don't like all these electronic transactions made with plastic cards so I always carry three or four hundred in cash. To do so I have to have my wallet stuffed with 20's to the point where it's hard to close. It pisses me off. But 20's are all I can get out of the ATM. To get decent sized bills I have to go to my credit union and trade in my 20's for 50's or 100's. But then if you try to spend them the cashier at say the grocery store tries to guilt trip you by giving you a funny look, then holding the bill up to the light and squinting at it, and then finally taking out a magic marker and putting a stripe on it before stashing it under the drawer instead of in it. What the fuck is that all about?

Holding the bill up to the light is to see the coded strip embedded in the paper which identifies the bill as genuine.

Marking the bill with the special pen is a way of identifying the paper used as genuine. It changes color from brown to black on counterfeits that use wood fiber paper.

The funny look is all about you. ;)

donquixote99
02-18-2016, 09:19 AM
When they first started doing it, at this one place where I knew the cashier I made a production of holding the $1.00 bill i got in change up to the light to inspect it. Good for a laugh....

icenine
02-18-2016, 09:20 AM
A $100 dollar bill today is roughly equivalent to a $10 bill when I was a child first learning the value of money in the 1950's. Today a $10 bill is worth about what a $1 bill was back then, and a buck today buys what a dime used to. So why is a $100 bill considered too big? If you ask me, we need more of them, not less, and we ought to even consider bring back the $500, maybe even the $1,000.

I don't like all these electronic transactions made with plastic cards so I always carry three or four hundred in cash. To do so I have to have my wallet stuffed with 20's to the point where it's hard to close. It pisses me off. But 20's are all I can get out of the ATM. To get decent sized bills I have to go to my credit union and trade in my 20's for 50's or 100's. But then if you try to spend them the cashier at say the grocery store tries to guilt trip you by giving you a funny look, then holding the bill up to the light and squinting at it, and then finally taking out a magic marker and putting a stripe on it before stashing it under the drawer instead of in it. What the fuck is that all about?


Getting old sucks doesn't it?

nailer
02-18-2016, 09:57 AM
Love my plastic. Get a kickback with every purchase and a free short-term loan to boot.

donquixote99
02-18-2016, 10:02 AM
There are slot machines that typically pay off three quarters every time you put in four.....

nailer
02-18-2016, 10:06 AM
Getting old sucks doesn't it?

Damn straight.

Boreas
02-18-2016, 10:10 AM
Getting old sucks doesn't it?

I suppose. I can't remember.

MrPots
02-18-2016, 10:12 AM
Love my plastic. Get a kickback with every purchase and a free short-term loan to boot.

You also pay the bank a fee for every single purchase.

It's like a bank tax. You like taxes?

nailer
02-18-2016, 10:20 AM
You also pay the bank a fee for every single purchase.

Nope. :cool:

Boreas
02-18-2016, 10:22 AM
You also pay the bank a fee for every single purchase.

Well, someone does. Sometimes you don't but the merchant does and, when that happens, you pay a little bit more for what you just bought.

nailer
02-18-2016, 10:26 AM
Well, someone does. Sometimes you don't but the merchant does and, when that happens, you pay a little bit more for what you just bought.

Cash payers pay that little bit more too, unless the merchant offers a lower cash price.

Boreas
02-18-2016, 10:31 AM
Cash payers pay that little bit more too, unless the merchant offers a lower cash price.

Yup! Very true.

Tom Joad
02-18-2016, 12:27 PM
This is interesting. I would have thought it was much lower.

http://www.theatlantic.com/business/archive/2012/11/-100-bills-make-up-80-of-all-us-currency-but-why/265518/

catswiththum
02-19-2016, 08:27 AM
From a merchant POV taking cash is less expensive.

The CC processor charges us anywhere from 1.5 - 2.75% per transaction depending on the card the customer uses - Amex is the worst.

Some businesses tack on a "CC convenience fee" to cover that cost - we have not yet sunk that low - if we do, I will hang it up and open a butterfly farm in Colorado.

I encourage our customers to pay with cash - it is a headache to count, keep track of, and handle but better for the bottom line.

merrylander
03-24-2016, 11:59 AM
I recently transferred $2300 from one bank to another by writing myself a check. That was simpler than holding each of 23 bills to the light to see if I would see Franklin or Lincoln.

Rajoo
03-24-2016, 12:37 PM
It used to cost me $0.10 for a cup of coffee at the Illinois Central station in 1970. Last week a cup cost me nearly $3.00 at a casino in Las Vegas (regular drip variety). WTF?

On a brighter note, I was offered a line of credit (amount was not discussed) by Citibank for prime-0.75 (yes prime minus three quarters of a point)! Not my regular bank, have an account there for my audio slush fund and pocket expenses (7-Eleven now has Citibank ATM's so I don't pay any fees for cash withdrawals when I travel), so they really have no idea of my income or assets. Wonder if they get to see my credit rating or some other information they have access to.

Plan to sign up for the new Tesla Model 3 if borrowing is so cheap. :D

nailer
03-24-2016, 01:47 PM
Money's cheap only to the banks' best customers.

merrylander
03-24-2016, 03:14 PM
Getting old sucks doesn't it?

Tell me.:D

merrylander
03-24-2016, 03:15 PM
You also pay the bank a fee for every single purchase.

It's like a bank tax. You like taxes?

Not any longer I closed the account at Bank of America.:)