There was once a time in America when it was not all that uncommon for people to purchase a new or used car with cash. Today, it has become almost impossible for someone to use paper money to buy any type of powered vehicle. Most people would blame inflation for making cash impractical for large transactions. The average cost of a car has gone from $3,000 in 1970, to the current average of $35,000.
The real reason you can’t use cash is because the government has been slowly clamping down on the availability of large notes. Right now, the highest denomination produced by the Department of Treasury is a $100 bill. There was a time when banks had available $500, $1,000, $5,000, and $10,000 notes. In 1800s, there were a variety of thousand dollar notes in circulation.
I have a friend who deals with rare currency and he told me all large notes are now worth more than their face value. He said the most common $500 note is worth around $750 and the $1,000 note is worth around $1900. The $5,000 notes were printed in very limited quantity, so many of them are now worth more than $50,000. The $10,000 note has been valued as high as $125,000.
The standard explanation for why the government has retired large notes is the need to control the illegal drug trade, money laundering, and even terrorist activity. The true motivation has everything to do with taxation. Washington is in desperate need of money, and it wants to make sure your stash is within grasp.
The government also wants to be able to prevent your money from leaving the country. This need has become a reality in France; a country with an insanely high tax rate. French Finance Minister Michel Sapin brazenly stated that it was necessary to “fight against the use of cash and anonymity in the French economy.”
The French have recently implemented several measures to restrict the use of cash:
Residents can only make cash payments of more than 1,000 euros, down from the previous limit of 3,000 euros.
Foreign tourists can only receive payments of 10,000 euros, down from the previous limit of 15,000 euros.
Any cash deposit or withdrawal of more than 10,000 euros during a single month will be reported to the French anti-fraud and money laundering agency—Tracfin.
Any freight transfers within the EU exceeding a value of 10,000 euros must be reported to French authorities.
With Greece struggling to avoid bankruptcy, it too has taken on draconian measures designed to target cash. The central government has set-up capital controls by raiding pension funds, it has confiscated the funds of local government cash, and has enacted surcharges on all cash withdrawals.
The U.S. federal government is just as broke as most other nations, but it has managed to avoid financial calamity by maintaining an “all is well” front. Behind the happy smiles is a growing plan by regulators to tighten their grip on cash. Anyone who engages in a cash transaction over $10,000 runs the risk of generating a suspicious activity reports (SAR). The Homeland Security Act requires all banks to monitor the activity of its customers.
We’ve reached a very slippery slope by allowing Big Brother to snoop into our bank accounts. If you give the feds partial access to your personal information, they will find a justification for gaining full access. The Justice Department is already saying it wants financial institutions to look at smaller transaction that may be connected to nefarious activity.
It would be nice to know if someone wrote a $200 check to a known drug dealer. If it means turning the country into a police state, the price for that useful information is too high.
The day may soon come when people trying to make cash withdrawals are asked to explain why they need their money. There have been a few cases where people’s bank accounts have been taken over by the feds, but these are based on the suspicion of criminal activity. Once we become a Greece or France, it’s very difficult to reverse the process.
The ultimate goal of the government is to get rid of all cash. Under a 100% electronic system, there is no place to hide from federal oversight. The average citizen fails to see the danger that comes with losing our financial sovereignty. If Adolf Hitler had the technology we have today, he could have used it against the French underground, the Jews that were hiding from him, and all those who plotted his downfall.
Man now has all the technology needed to establish a global, cashless community. At this stage, the only thing really missing is the political will to set the Mark of the Beast into motion.
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name” (Rev. 13:16-17).