03-15-2016, 03:24 AM
cbelt3 wrote:
There are a lot of theories. And a lot of issues. Both bills are obviously more frequently counterfeited. And as a result most cash based businesses won't accept them.
The other theory is that an all electronic commerce environment makes detecting crime that much easier, because then all of our cash flow is accessible via subpoena. That can also become a mechanism for control, and then the only solution is a barter economy.
I doubt very much that the $100 or $50 are going away anytime soon.
I'd personally welcome dropping the penny. They get in the way. Although I will confess to keeping a collection of the copper ones around to act as emergency conductors for repairs. I used one a few years ago in the place of an expensive battery terminal gizmo. Worked like a charm.
Detecting crime? Seriously? This has the multi-national banks' greasy fingerprints all over it. Think about how much money they make now with plastic.
As an example:
My cab company paid about $500,000 this year in bank fees (they call them discounts... ) - going up every year by at least 10%. That's one small business in a small city. Multiply that by every business on the planet.
Now imagine how much their cut would be, once they eliminate cash. Then add in how much they make selling your data to marketers. And, yeah, IRS can then put the squeeze on the low and middle class tax cheaters. Take some of the pressure off the rich to pay for their welfare benefits.