*ECB ENDS PRODUCTION AND ISSUANCE OF €500 BANKNOTE *ECB SAYS ISSUANCE OF EU500 NOTE TO STOP AROUND THE END OF 2018 *ECB SAYS OTHER EURO BANKNOTES WILL STAY IN PLACE *ECB: EU500 CAN BE EXCHANGED AT CEN BANKS FOR UNLIMITED TIME http://www.zerohedge.com/news/2016-...begins-ecb-ends-productionissuance-eu500-bill
This has been an AML issue ever since it was issued. Has nothing to do with a "war on paper currency", but go ahead and buy gold if you're paranoid.
You keep on believing that while all the rank and file institutions keep doing business as usual with the biggest launderer out there. "Bank of America, Western Union, and JP Morgan, are among the institutions allegedly involved in the drug trade, meanwhile, HSBC has admitted its laundering role, and evaded criminal prosecution by paying a fine of almost $2 billion. The lack of imprisonment of any bankers involved is indicative of the hypocritical nature of the drug war;" They want everyone to comply with imposed NIRP without a run on the bank's cash. Same reason Summers wants the $50 and $100 gone soon.
So you really believe the majority of those 500 euro notes are being used to conduct legitimate commerce? If so I've got bridge to sell you. Like I said, go buy your gold and head for the post-apocalyptic hills if you really believe in the vast conspiracy, it's the only rational thing to do. Certainly ranting about it on a bulletin board makes no sense if you truly believed it.
Savers and hoarders will not be tolerated going forward. Why is this so difficult to understand when to some degree it is happenning now. Since when did politicians care about drug commerce ?
Already set , bought gold years ago , live in MN farm country. I use large bills to purchase cars. Using cash in hand gives one an advantage and many times gets you a discount. Thanks for the advice.
Ever been to Europe? When you whip out a EU500 almost everyone thinks you're crazy for carrying it. Almost no one uses it to my understanding.
Just out of curiosity, what's the largest cash purchase you've made (roughly) and don't you find vendors reluctant to accept a large amount of cash? If I was a car dealer I'd much rather not have you pay $50K in cash; now I have to store it, keep it safe till I get it to the bank, count it... I might take it in order not to lose the sale but I certainly wouldn't give you a discount for it! I can accept a wire with about 2 minutes of work and none of the risk.
I doubt he is talking about a $50k car purchase lol. Buying used cars in cash typically gets one a better deal or at least that has been my experience as well, so I can second @Zr1Trader . I sold my wife's used car for cash a couple months ago. I had an offer of about $250 more if I would wait until the next day, but these people were eager to buy, said they would drive from 2hrs away and meet me late that night with cash in hand...sure enough they met me and handed me $14k in cash after inspecting the tahoe. Much less headache and worry about bad checks etc. I wouldn't have minded waiting for an extra $250, but a bird in the hand is worth two in the bush has definitely been my experience with selling a car to a private party.