Printing of 500 euro banknotes to end in late 2018

[webfact]

Printing of 500 euro banknotes to end in late 2018
BY BNO NEWS

FRANKFURT: -- The European Central Bank has decided to permanently stop printing 500 euros banknotes towards the end of 2018, citing the note’s popularity among criminals. The note will remain legal tender for those who possess them.

The Governing Council of the European Central Bank made the decision on Wednesday after reviewing the structure of the Europa series – which is the second series of euro banknotes which are being introduced gradually.

“[The council] has decided to permanently stop producing the €500 banknote and to exclude it from the Europa series, taking into account concerns that this banknote could facilitate illicit activities,” the European Central Bank said in a press statement.

Full story: http://www.streetwisejournal.com/printing-of-500-euro-banknotes-to-end-in-late-2018/


-- StreetWiseJournal 2016-05-05

[Ulic]

Next step is to take it out of circulation forcing it to be exchanged for 100 Euro notes

over a six week period. Track where all the notes are coming from. (criminals, terrorism)

The same goes for the US. Print a new US 100 dollar note. Take all the old notes out of

circulation over a six week time frame. Whether it is the US treasury of the EU. They

know the number of notes printed and how many are in circulation legally. It is

time to get serious about tax evasion, criminal/drug finances, terrorism.

[Naam]

Next step is to take it out of circulation forcing it to be exchanged for 100 Euro notes

over a six week period. Track where all the notes are coming from. (criminals, terrorism)

The same goes for the US. Print a new US 100 dollar note. Take all the old notes out of

circulation over a six week time frame. Whether it is the US treasury of the EU. They

know the number of notes printed and how many are in circulation legally. It is

time to get serious about tax evasion, criminal/drug finances, terrorism.

keep on dreaming

[wabothai]

no one could pay with them anyway, most don't even take 100 notes.

Edited May 5, 2016 by wabothai

[Rancid]

Ha, got nothing to do with the usual excuse of terrorism. Wasn't it HSBC that was found guilty of laundering billions in drug money, no jail time of course? Regardless, that's where drug lords launder money, at their local corrupt bank.

This is really about getting rid of cash, so when we get hit with negative interest rates we can't pull out our money. No doubt governments also want to track everyone's finances and get some extra tax as well. Probably why politicians have moved away from the brown paper bag to speaking engagements paid into offshore tax havens

But it is corporations dodging the big tax payments and no one touches that, nor will this affect them.

[Naam]

no one could pay with them anyway, most don't even take 100 notes.

every money changer takes them and gives you a preferential rate.

[GOLDBUGGY]

Well, One Troy Ounce of Gold is still worth over 1,000 Euro the last time I checked. Make a Gold Coin out of that. Pretty difficult to Counterfeit Gold Coins. Maybe time to get back to the Gold Standard anyway.

[cooked]

Meaning that the Swiss 1000Fr (about € 900.-) will be the next to go? I don't think so.

[elgordo38]

Next step is to take it out of circulation forcing it to be exchanged for 100 Euro notes

over a six week period. Track where all the notes are coming from. (criminals, terrorism)

The same goes for the US. Print a new US 100 dollar note. Take all the old notes out of

circulation over a six week time frame. Whether it is the US treasury of the EU. They

know the number of notes printed and how many are in circulation legally. It is

time to get serious about tax evasion, criminal/drug finances, terrorism.

keep on dreaming

The government cares little about tax evasion and all the other things they mention. This is step 1 in their grand plan. Step 2 is do away with all physical money so that printing more money is only a push button away and also if they wish to empty your bank account ditto.

[SheungWan]

Next step is to take it out of circulation forcing it to be exchanged for 100 Euro notes

over a six week period. Track where all the notes are coming from. (criminals, terrorism)

The same goes for the US. Print a new US 100 dollar note. Take all the old notes out of

circulation over a six week time frame. Whether it is the US treasury of the EU. They

know the number of notes printed and how many are in circulation legally. It is

time to get serious about tax evasion, criminal/drug finances, terrorism.

keep on dreaming

The government cares little about tax evasion and all the other things they mention. This is step 1 in their grand plan. Step 2 is do away with all physical money so that printing more money is only a push button away and also if they wish to empty your bank account ditto.

Ah! The Grand Plan!

[Trouble]

Next step is to take it out of circulation forcing it to be exchanged for 100 Euro notes

over a six week period. Track where all the notes are coming from. (criminals, terrorism)

The same goes for the US. Print a new US 100 dollar note. Take all the old notes out of

circulation over a six week time frame. Whether it is the US treasury of the EU. They

know the number of notes printed and how many are in circulation legally. It is

time to get serious about tax evasion, criminal/drug finances, terrorism.

Wish the USA would go back to printing $500 and $1000 notes. It takes so much room to hoard those $100 notes.

[arjunadawn]

The rights or freedoms of the many are now consistently debased under varying pretenses, in this case catching bad guys. RFID, transmitters, passive, active, smart cards, circuit boards, reduced monetary notes, ad infinitum... Its always done "for the children," to "catch bad guys," for your "safety," and using fear. The net result is one step closer to a cashless society. In this world fiat money is created out of thin air with zero overhead. The benefits are endless for bankers, and the State.

While all these financial actions can be presented as commonsense, and opposition compromised by "What do you have to hide?" non sequitars, the end result is overwhelming consolidation of yet one more frontier of data by the State.

I do not particularly use such notes often (I wish I did ). However, the greatest good for the greatest amount of people concept of enlightened plural societies are now passé. Now minority issues (wedge issues, contrived issues) always drive the majority to be compromised or bear the burden. All together, these changes to money tracking is a very big deal. Soon you will not be able to pay the gardener without a transaction being recorded. I would rather a black economy, laundering, and even crime then a cradle to grave roadmap of my financial life owned by the State.

[bangkapi]

It is part of the globalist banker agenda of serfdom, wage and debt slaver for the masses.. Tax is theft. Government is too intrusive. To further civilization and to give everyone a voice, central banks need to be shuttered and currency should be sound.

[hawker9000]

no one could pay with them anyway, most don't even take 100 notes.

every money changer takes them and gives you a preferential rate.

He said "pay with them", not "exchange them for foreign currency". And he's correct; most merchants will not accept $100s, some won't even take $50s. Simply because making change for large notes sucks up all the change out of the change drawer. Foreign currency exchange overseas is about the ONLY thing I use $100s for anymore, and not so much of that anymore. I think lots of people keep emergency cash at home in the form of $100s, but they'd have a devil of a time buying anything with them in a real emergency I'm guessing.

[Naam]

Meaning that the Swiss 1000Fr (about € 900.-) will be the next to go? I don't think so.

the Swiss said already "no!" and Singapore did not comment on it's 1,000 and 10,000 (7,350 US-Dollars) Sing-Dollar notes.

[4evermaat]

Next step is to take it out of circulation forcing it to be exchanged for 100 Euro notes

over a six week period. Track where all the notes are coming from. (criminals, terrorism)

The same goes for the US. Print a new US 100 dollar note. Take all the old notes out of

circulation over a six week time frame. Whether it is the US treasury of the EU. They

know the number of notes printed and how many are in circulation legally. It is

time to get serious about tax evasion, criminal/drug finances, terrorism.

Wish the USA would go back to printing $500 and $1000 notes. It takes so much room to hoard those $100 notes.

That's the point. If you look at every country who has removed their larger denomination, it was to prevent capital flight. All a person has to do is just travel to a neighboring country and exchange it out. And if your country is in a financial crisis, that is the natural thing to do (bank run, hoarding, send to relative, etc)

Cash is still king, but those in power do want to curb cash.

He said "pay with them", not "exchange them for foreign currency". And he's correct; most merchants will not accept $100s, some won't even take $50s. Simply because making change for large notes sucks up all the change out of the change drawer. Foreign currency exchange overseas is about the ONLY thing I use $100s for anymore, and not so much of that anymore. I think lots of people keep emergency cash at home in the form of $100s, but they'd have a devil of a time buying anything with them in a real emergency I'm guessing.

Larger businesses or those selling higher ticket items do not have the problem with large bills. It is the mom/pop or smaller vendors that you want to save the smaller bills for.

[4evermaat]

Meaning that the Swiss 1000Fr (about € 900.-) will be the next to go? I don't think so.

the Swiss said already "no!" and Singapore did not comment on it's 1,000 and 10,000 (7,350 US-Dollars) Sing-Dollar notes.

I didn't realize singapore had 10,000 notes. Anyone actually held one or more importantly tried to exchange it in a different country?

[Naam]

Meaning that the Swiss 1000Fr (about € 900.-) will be the next to go? I don't think so.

the Swiss said already "no!" and Singapore did not comment on it's 1,000 and 10,000 (7,350 US-Dollars) Sing-Dollar notes.

I didn't realize singapore had 10,000 notes. Anyone actually held one or more importantly tried to exchange it in a different country?

SGD 10k notes are not acquired to be exchanged in a different country. traditionally they are used as gifts for a new born baby or a couple on their wedding day.

[SheungWan]

Notwithstanding the usual crowd of gold bugs and conspiracy theorists getting on their high horses, the removal of the 500 euro note will not be the end of civilization as we know it. It is a gesture towards the perceived problem of tax evasion and drug smuggling. It is worth noting that the largest UK sterling note in general circulation is only 50 pounds.

[4evermaat]

I didn't realize singapore had 10,000 notes. Anyone actually held one or more importantly tried to exchange it in a different country?

SGD 10k notes are not acquired to be exchanged in a different country. traditionally they are used as gifts for a new born baby or a couple on their wedding day.

SGD 10k.jpg

The 1000 SGD also? Or can those be transported outside Singapore? I originally thought the 500 EUR and the CHF 1,000 were the largest denominations of paper currency from G20 nation that could be exchanged.

[thaihome]

Meaning that the Swiss 1000Fr (about 900.-) will be the next to go? I don't think so.

the Swiss said already "no!" and Singapore did not comment on it's 1,000 and 10,000 (7,350 US-Dollars) Sing-Dollar notes.

Singapore stopped printing the 10,000 dollar note in 2014.

TH

[Naam]

I didn't realize singapore had 10,000 notes. Anyone actually held one or more importantly tried to exchange it in a different country?

SGD 10k notes are not acquired to be exchanged in a different country. traditionally they are used as gifts for a new born baby or a couple on their wedding day.

SGD 10k.jpg

The 1000 SGD also? Or can those be transported outside Singapore? I originally thought the 500 EUR and the CHF 1,000 were the largest denominations of paper currency from G20 nation that could be exchanged.

both of course can be transported outside. restrictions do not exist. Singaporean friends told me that Hong Kong and Taiwan Chinese used to follow the above-mentioned tradition.

[Haecksler]

The rights or freedoms of the many are now consistently debased under varying pretenses, in this case catching bad guys. RFID, transmitters, passive, active, smart cards, circuit boards, reduced monetary notes, ad infinitum... Its always done "for the children," to "catch bad guys," for your "safety," and using fear. The net result is one step closer to a cashless society. In this world fiat money is created out of thin air with zero overhead. The benefits are endless for bankers, and the State.

While all these financial actions can be presented as commonsense, and opposition compromised by "What do you have to hide?" non sequitars, the end result is overwhelming consolidation of yet one more frontier of data by the State.

I do not particularly use such notes often (I wish I did ). However, the greatest good for the greatest amount of people concept of enlightened plural societies are now passé. Now minority issues (wedge issues, contrived issues) always drive the majority to be compromised or bear the burden. All together, these changes to money tracking is a very big deal. Soon you will not be able to pay the gardener without a transaction being recorded. I would rather a black economy, laundering, and even crime then a cradle to grave roadmap of my financial life owned by the State.

arjunadawn

That is a very good point.

The global financial system is moving toward it's end.

It was very short before melting down in 2007 (Northern Rock bank run) and I don't know how many people are aware about this.

The financial crises from 2008 is not over it is still there.

The banks and the government are now preparing for the worst and the "war on cash" is only one measure.

Cash which means coins and bank notes are anyway the only legal payment method from a strict lea gal point of view.

We should not let this happen, cash is one of the last personal freedoms in a system where privacy is already back in the stone age.

War on cash has nothing to do with fighting criminals, absolutely nothing!!