Former Obama Advisor Heats Up War on Cash in a Big Way

1280px-Usdollar100frontThere’s a war going on.

It will impact all of us.

It’s The War on Cash.

You see, the Federal Reserve printed too much cash, mostly electronically that they gave to the Big Banks.

Now the economy is about to implode again.

Any money or assets held in banks will be at risk.

But if you have cash, your chances for survivals are much greater.

So now, the government is sending out warning messages about the evils of cash:

The war on cash heated up this week when a former Obama economic adviser/ex-Treasury secretary floated the idea of eliminating the $100 bill.

Lawrence Summers called for death to the Benjamins in a post on his Washington Post blog titled It’s Time to Kill the $100 Bill. The post announced the release of a paper by Harvard’s Mossavar Rahmani Center for Business and Government senior Fellow Peter Sands arguing that governments should stop issuing high-denomination currency such as 500 euro notes and $100 bills. The paper even proposed withdrawing such currency them from circulation.

Cash warriors always publicly center their arguments on the need to limit cash as a way to fight drug crime, terrorism, and tax fraud. This was exactly how Summers framed the argument in his blog post:

Sands’ extensive analysis is totally convincing on the linkage between high denomination notes and crime. He is surely right that illicit activities are facilitated when a million dollars weighs 2.2 pounds as with the 500 euro note rather than more than 50 pounds as would be the case if the $20 bill was the high denomination note. And he is equally correct in arguing that technology is obviating whatever need there may ever have been for high denomination notes in legal commerce…I’d guess the idea of removing existing notes is a step too far. But a moratorium on printing new high denomination notes would make the world a better place.”

Be prepared.

Stock up on Benjamins.

  • Robert Theriot

    Considering what a $100 bill buys today, one would need a knapsack to carry enough $20’s to pay a restaurant bill for a family of four or a fillup for an SUV.

  • VirgoVince

    MORE lefturd bullshit!!

  • Rodney Steward

    This is what happens when U put people in jobs they’re not qualified for, and this is after the standards were lowered for the White house!

    • Darlene

      YES—That is The Truth

    • Jarhead

      Good Old Affirmative Action plus Diversity, at work lowering all common sense Standards…..

  • Norm Fishler

    Considering how bad the economy is right now & how little the century note will buy, it seems to me as though they should be printing the one thousand dollar bill, not eliminating the hundred.

  • Buck

    Seems like they have to keeps adding to the pot and tinkering till things finally become so bad all that can happen is it all explodes in to a million pieces . And all the Kings horses and all the Kings men won’t be able to put it back to gather again.

    • Jamie Hall

      That’s exactly what they are hoping for. They want everything to break down so they can step in and try to assume total control.

      • dodger4754

        NAILED IT! That exactly why Odumbo has spent the last 7 1/2 years attempting to bankrupt the country.

  • Greyguy

    Also, remember that Mr. Summer’s was one of the Clinton geniuses under the tutoring of Robert Rubin,that helped put together the financial structure that led to the housing bubble that finally burst in 2008. The Obama called him back to help fix it. STRIKE THREE, YOU’RE OUT.

  • mcgyver35

    And “Your money is Bernieing a hole in my pocket” Sanders, wants to fix it where you couldn’t get a 100 bill after taxes anyway. “Gotta give all dem supporters all dat free stuffs I promised em, mwhahahahaha, they are so ignorant. They belong to me now, and I don’t have to give them anything. Such stupid sheeple” he says in his sinister northern accent. Its all mine. I deserve it for duping the stupies.