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-   -   Raise your hand if you understand the impact of no more 500 Euro bills (https://gfy.com/showthread.php?t=1195568)

femdomdestiny 05-05-2016 02:34 AM

Quote:

Originally Posted by 12clicks (Post 20875151)
This is the next step in government control. Keep shrinking the denominations of money so that no one can have too much of it without the government knowing it. Won't be long until they start outlawing gold (again)

I've exchanged 500 bill few times, without problem. Actually, bigger problem is to use dollars. Not sure why they are looking at dollars with suspicion. I've heard dollars is easier to falsify.

Anyway, much bigger problem for Eu is that now Turks and Kosovo Albanians are free to enter .

Paul Markham 05-05-2016 02:39 AM

Quote:

Originally Posted by Paul&John (Post 20875622)
Not sure why would you need a 500 eur bill anyway..

Anything over 500 CZ Krown, ($25) I pay for with a card.

Paul Markham 05-05-2016 02:43 AM

Quote:

Originally Posted by mineistaken (Post 20875376)
Maybe so, but who, besides illegally obtained money holders, would have a problem with that.

Roofers who want to be paid in cash to avoid paying taxes. Ask the OP.

This is only of concern to criminals. From those who want to be paid in cash to avoid taxes to drug dealers.

pimpmaster9000 05-05-2016 03:53 AM

30% of the euros in circulation are 500 bills...

it has nothing at all to do with fighting crime or terror, denominations of bills do not influence crime or terrorism in any way because most criminals use hawala and bank accounts to move money...terrorism does not cost a lot of money anyway...

I can have almost any amount of money in almost any neighboring country delivered in 5 minutes...nothing crosses the border...just a phone call...remember how the rotschilds got rich? well people copied the model...

Barry-xlovecam 05-05-2016 05:07 AM

Legitimate winnings paid by a casino have taxes withheld
Quote:

Reportable Gambling Winnings

Report gambling winnings on Form W-2G if:

The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine,

The winnings (reduced by the wager) are $1,500 or more from a keno game,

The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament,

The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are:

$600 or more, and

At least 300 times the amount of the wager, or

The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).

https://www.irs.gov/instructions/iw2g/ar02.html
You can prove the cash you were carrying was from casino winnings with a fuckin' slip of paper. You can get a casino check and that is as good as a certified check from a bank to transport the money.

Who carries thousands of dollars in a suitcase? Idiots, drug dealers or other shady characters.

I don't give a fuck if a bartender, waitresses or cab drivers prefer cash and I know why -- cash income leaves no records. You can collect welfare benefits, collect SSI disability or fraudulently of evade income tax if you are paid in cash. I pay income taxes why should the 'cash economy' get a free ride at taxpayer expense.

What are you going to buy 'on the spot' with a 500Є banknote? or a $500 or $1,000 banknote?

LetterTwenty7 05-05-2016 05:11 AM

More bills in a wallet?

nico-t 05-05-2016 06:03 AM

Tried to pay sometimes with a 200 bill. Nobody accepts it. Supermarkets, stores, not even the big gas stations at highways accept it here. A legal form of payment is getting denied literally everywhere.

You often hear the 'counterfeit' argument, but they don't counterfeit 200 or 500 bills because that stands out too much. €20 and €50 bills are most counterfeited.

mineistaken 05-05-2016 09:30 AM

Quote:

Originally Posted by Paul Markham (Post 20876333)
Roofers who want to be paid in cash to avoid paying taxes. Ask the OP.

This is only of concern to criminals. From those who want to be paid in cash to avoid taxes to drug dealers.

Must be some great roofing (or any other legitimate, but avoiding tax) business that it would be a problem to carry 200 bills :1orglaugh

klinton 05-05-2016 09:49 AM

yeah, if you buy fuel for 6 euros no wonder that no gas station will accept 200 euro bill:1orglaugh:1orglaugh:winkwink:
its mostly because they dont have enough change. if everybody would be paying in 200 euros, they would have no change to give.
Quote:

Originally Posted by nico-t (Post 20876582)
Tried to pay sometimes with a 200 bill. Nobody accepts it. Supermarkets, stores, not even the big gas stations at highways accept it here. A legal form of payment is getting denied literally everywhere.

You often hear the 'counterfeit' argument, but they don't counterfeit 200 or 500 bills because that stands out too much. ?20 and ?50 bills are most counterfeited.


Sednub997 05-05-2016 09:55 AM

the main plan is the the hole Eu zone gonna be poor so wont use 500E bill

JFK 05-05-2016 09:59 AM

Fitty clampdowns :pimp

klinton 05-05-2016 10:02 AM

yes, mostly your "hole"
Quote:

Originally Posted by Sednub997 (Post 20877161)
the main plan is the the hole Eu zone gonna be poor so wont use 500E bill


JFK 05-05-2016 10:04 AM

Quote:

Originally Posted by klinton (Post 20875679)
well, we all know that governments want to control everything... cash = not possible to control.

yet I cant understand what difference does it make for villain or criminals if they store their money in 500 euro bills or 200 euro bills ?
its total bullshit. you would have to have bilions of it to make difference of it.

so the reason for that is different probably. that note wasnt used by virtually noone, as it would be strange to get your salary in few 500 euro bills...

Its about storage space :winkwink:

mineistaken 05-05-2016 10:09 AM

Quote:

Originally Posted by klinton (Post 20877152)
if everybody would be paying in 200 euros, they would have no change to give.

The things is that only very few would pay in 200, so there would be PLENTY of 100 and 50 bills to give change. It would come out even better for station in those terms.

The Porn Nerd 05-05-2016 10:41 AM

The powers that be will do ANYTHING to keep their bubble economies going long enough til they die. LOL

Negative interest rates + the elimination of cash = total control over the economy (and population).

Get ready, it's coming.

noshit 05-05-2016 11:39 AM

Cashless translated means turning your chip off if you don't bow down and conform.

Unless you're self sufficient, You can't buy shit. You can't eat.
:2 cents:

.

nico-t 05-05-2016 12:20 PM

Quote:

Originally Posted by klinton (Post 20877152)
yeah, if you buy fuel for 6 euros no wonder that no gas station will accept 200 euro bill:1orglaugh:1orglaugh:winkwink:
its mostly because they dont have enough change. if everybody would be paying in 200 euros, they would have no change to give.

whether the total is ?50 or ?195, they won't accept a 200 bill.

So obviously its not about change. What mineistaken said.

klinton 05-05-2016 02:21 PM

it's just too big ! I wouldnt accept it either.:winkwink:
whatever you do, small notes 10,20,50 are the best:winkwink::winkwink::winkwink:
Quote:

Originally Posted by nico-t (Post 20877377)
whether the total is ?50 or ?195, they won't accept a 200 bill.

So obviously its not about change. What mineistaken said.


klinton 05-05-2016 02:26 PM

its bullshit ! what difference would it make for you if your cash will occupy box of cigars, box of chocolate or box of shoes ?
unless you are billionaire it doesnt matter at all...if it will occupy something big like bathtub or garage, you may always spread it around..into small boxes...you may buy diamonds, gold, bitcoin, whatever....
god damn really, some people have "important" problems in this life.......:winkwink::winkwink:

Quote:

Originally Posted by JFK (Post 20877185)
Its about storage space :winkwink:


Vendot 05-05-2016 04:04 PM

Quote:

Originally Posted by noshit (Post 20877329)
turning your chip off if you don't bow down and conform.

i.e. worship the beast.

crockett 05-05-2016 04:58 PM

12clicks why are you complaining about this? You should be thrilled that you no longer have to make excuses to the bums hanging out on the corner as to why you can't spare some change...

Vendot 05-05-2016 10:52 PM

Quote:

Originally Posted by 12clicks (Post 20875151)
Won't be long until they start outlawing gold (again)

The propaganda comes first

'El Chapo' Guzmán's Sinaloa cartel was melting down its profits to sneak them out of the US - Yahoo Finance

12clicks 05-06-2016 04:52 AM

Quote:

Originally Posted by The Porn Nerd (Post 20877242)
The powers that be will do ANYTHING to keep their bubble economies going long enough til they die. LOL

Negative interest rates + the elimination of cash = total control over the economy (and population).

Get ready, it's coming.

I had to scroll all the way down to this before I found someone who understood the significance.

sad state of the intelligence level of GFY.

12clicks 05-06-2016 04:55 AM

Quote:

Originally Posted by astronaut x (Post 20875724)
This is what I was thinking. This thread is hilarious. :1orglaugh:1orglaugh

I wouldn't expect a failure to understand the concepts behind the post. :1orglaugh

_Richard_ 05-06-2016 05:02 AM

Quote:

Originally Posted by 12clicks (Post 20878223)
I had to scroll all the way down to this before I found someone who understood the significance.

sad state of the intelligence level of GFY.

i don't think it's that.. one can only listen to 'its a conspiracy' so much before they accept that no one really wants to talk about any of this

every so often someone will think they have discovered something special, and then attempt to educate and inevitably lambaste people for perceived 'stupidity'.. when in reality they're just new to the party

12clicks 05-06-2016 05:07 AM

Quote:

Originally Posted by _Richard_ (Post 20878241)
i don't think it's that.. one can only listen to 'its a conspiracy' so much before they accept that no one really wants to talk about any of this

every so often someone will think they have discovered something special, and then attempt to educate and inevitably lambaste people for perceived 'stupidity'.. when in reality they're just new to the party

no, its what I said. And there's no conspiracy. Its simply being done with the bottom not understanding the reasons or consequences because, "I've never even seen one"

mineistaken 05-06-2016 07:36 AM

Quote:

Originally Posted by 12clicks (Post 20878244)
no, its what I said. And there's no conspiracy. Its simply being done with the bottom not understanding the reasons or consequences because, "I've never even seen one"

You theory might be correct, but it is not smart to pretend it is 100% correct. As if there is not even 0.000001% chance that they decided it for simple reasons such as - it is not being used by virtually no one, shops do not take them etc. So printing unusable bills (and only cater to hoarders who prefer their 1.000.000 euro in 2kg and not 5kg) may not be the viable business or common sense decision. Are you sure there is not even 0.000001% chance that it is for those reasons? Chance of conspiracy must be 100.00% and not even 99.9999%? :)

_Richard_ 05-06-2016 08:32 AM

Quote:

Originally Posted by 12clicks (Post 20878244)
no, its what I said. And there's no conspiracy. Its simply being done with the bottom not understanding the reasons or consequences because, "I've never even seen one"

well.. ahh... you are saying there is a plan by a group of people to do something unlawful or harmful. i am pretty sure that is the definition of 'conspiracy', regardless if it's true or not.

Furthermore, you're saying so means you're theorizing the existence based on evidence you see/have/feel.

and now you will realize there has been years already spent making sure people who are theorizing conspiracies have already been framed as less than intelligent ( not to say you are, i mostly agree with you about this subject.

OY 05-06-2016 08:50 AM

Quote:

Originally Posted by 12clicks (Post 20875151)
This is the next step in government control. Keep shrinking the denominations of money so that no one can have too much of it without the government knowing it. Won't be long until they start outlawing gold (again)

I understand!!! (raises hands, and tell him that he still loves you...)

http://static.tvtropes.org/pmwiki/pu...lfoil_2322.jpg

12clicks 05-06-2016 09:32 AM

Quote:

Originally Posted by _Richard_ (Post 20878625)
well.. ahh... you are saying there is a plan by a group of people to do something unlawful or harmful.

no I'm not so I didn't read any further

12clicks 05-06-2016 09:41 AM

further reading.
Page Not Found | Zero Hedge

The Plot to Kill the $100 Bill - WSJ
https://www.washingtonpost.com/news/...-the-100-bill/

Vendot 05-06-2016 10:59 AM

Quote:

Originally Posted by 12clicks (Post 20878223)
I had to scroll all the way down to this before I found someone who understood the significance.

sad state of the intelligence level of GFY.

Sad state? When were they *ever* bright? :1orglaugh

But you're totally right the "Porn Nerd" hit the nail on the head and the 99% sheeple, as always, have no clue what's on the horizon.

Evil Chris 05-06-2016 11:28 AM

I forgot how many people on GFY wear tinfoil hats. LMAO

NatalieK 05-06-2016 11:29 AM

atm, the finance ministers are only asking for an investigation into the ban of the note due to the possible corruption & laundering using the notes.

If the governments wanted to take control, they would ban cash & notes immediately, there'd be nothing anyone could do about it, if it was a world wide determination. US have had large notes recalled for years, there's no major issue, especially as most have said, 5 100 notes in your pocket is no big deal & at no point do you need to carry this amount around with you or you're looking to be robbed :2 cents:

https://www.theguardian.com/business...uro-note-crime

MaDalton 05-06-2016 11:35 AM

the highest USD bill is $100 - that's 87.50 €

there is zero use for a 500 € bill

i don't give a fuck - about the bill or being called sheeple

Barry-xlovecam 05-06-2016 11:45 AM

Negative interest rates are the biggest scam this year

FRB: Interest on Required Balances and Excess Balances

The ECB rules are similar.

I put a lot more credence with the former chairman of the Federal Reserve Bank than bozos at GFY pointing to the sky is falling claims at zerohedge
Quote:

What tools does the Fed have left? Part 1: Negative interest rates | Brookings Institution

Ben S. Bernanke | March 18, 2016 11:00am
What tools does the Fed have left? Part 1: Negative interest rates

[C]onclusion on negative interest rates

The anxiety about negative interest rates seen recently in the media and in markets seems to me to be overdone. Logically, when short-term rates have been cut to zero, modestly negative rates seem a natural continuation; there is no clear discontinuity in the economic and financial effects of, say, a 0.1 percent interest rate and a -0.1 percent rate. Moreover, a negative interest rate on bank reserves does not imply that the most economically relevant rates, like mortgage rates or corporate borrowing rates, would be negative; in the US, they almost certainly would not be. Negative rates have some costs, in their effects on money market funds for example, but these ought to be manageable. On the other hand, the potential benefits of negative rates are limited, because rates that are too negative would trigger hoarding of currency. Although the European experience suggests that rates can be more negative than the Fed staff estimated in 2010, I don’t think U.S. rates could approach the extreme values seen in Switzerland or Sweden without becoming counterproductive.

Overall, as a tool of monetary policy, negative interest rates appear to have both modest benefits and manageable costs; and I assess the probability that this tool will be used in the U.S. as quite low for the foreseeable future. Nevertheless, it would probably be worthwhile for the Fed to conduct further analysis of this option. We can imagine a hypothetical future situation in which the Fed has cut the fed funds rate to zero and used forward guidance to try to talk down longer-term interest rates. Suppose some additional accommodation is desired, but not enough to justify a new round of quantitative easing, with all its difficulties of calibration and communication. In that scenario, a policy of modestly negative interest rates might be a reasonable compromise between no action and rolling out the big QE Gun.
Yes, currency would be more voluminous to hoard without larger denomination banknotes. Hard asset commodities or precious metals or gems might be a better way.

Of course the banks may try to take advantage of the negative rates their reserves are charged by passing along higher fees for small depositors. see: Negative interest rate bank account impact - Business Insider

Jel 05-06-2016 12:43 PM

stopping the €500 note because of:

money laundering;
no real use;
it has germs and is the 'lergy

is about as true as 2257 being to 'protect the children', and the old bill being able to do what they want dressed in riot gear because of 'terrorism', and tubes starting out with thousands upon thousands of 'user uploads', and 'rogue programmers' being at fault for 1,250 naughty things that were genuine mistakes, and chris mallick being a victim of funds in motion.

The Porn Nerd 05-06-2016 01:21 PM

Another problem with paper money - from the banks perspective - is there's so much of it floating around that many banks won't agree to take it! That's right, banks are outright refusing to store huge quantities of cash, or in some cases charging for it. So there's another reason.

But the #1 "problem" with conspiracies in general is not that they are happening (of course they are) it's that the average person (you and I) can do absolutely nothing about it. It's like watching a Pro Wrestling WWE match and thinking you can influence the outcome in any way.

Paul 05-07-2016 01:15 AM

Read up on the new 2016 EU bank Bail Ins that have been implemented for the next round of financial problems.

Quote:

If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus bank bail-ins that we witnessed a few years ago. If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe. And with the entire global financial system teetering on the brink of chaos, that is not good news for those that have large amounts of money stashed in shaky European banks.
Source

Quote:

The European Union entered a brave new world of bank ?bail-ins? at the start of 2016. Europe has wasted so much taxpayers? money on bailing out bust banks in recent years that it is right to try to get investors to help foot the bills in future. However, the tough new regime carries big political risks.

The key new rule is that no bank can be bailed out with public money until creditors accounting for at least 8 percent of the lender?s liabilities have stumped up. So-called bail-ins typically mean wiping out creditors? investments, slashing their value or converting them into shares in the bank. Uninsured depositors could get caught along with professional investors.
Source

The last place you want to have money is in a bank :2 cents:

Google Expert 05-07-2016 01:23 AM

I'll post it here again, in case someone missed it on page 1

This is a 1000 Swiss francs note. Which is equal to USD $1000

http://gfoix.com/wp-content/uploads/...ss-franc-2.jpg


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