Dictatorship will rise slowly but surely in America and Europe to cover the economical and financial downfall and to neutralize the popular uprising wishing to punish the evil and corrupted capitalists. Keep a close eye on the laws voted in the last ten years. Prepare and brace yourself.
“Tell this to the workers when they ask where their leader went. We, the soldiers of The National Liberation Front of America, in the name of the workers and all the oppressed of this imperialist country, have struck a fatal blow to the fascist police state. What better revolutionary example than to let their president perish in the inhuman dungeon of his own imperialist prison.” (culled from Escape from New York)
Get rid of the $100 bill. Heck, maybe get rid of the $50 bill, too.
So says Lawrence Summers, a former economic adviser to President Obama and ex-Treasury secretary.
Summers points to research showing that corruption is aided by paper currency in larger denominations, such as Uncle Sam’s $100 bill and the 500-euro bill ($557 U.S. equivalent).
How so? It’s easier for criminals and terrorists to move lots of cash illicitly in large bills. A million dollars in €500 bills weighs just 2.2 pounds, Summers writes in a blog post on the Washington Post website. The same amount of money in $20 U.S. bills weighs 50 pounds.
Summers says the U.S. government should stop issuing new $100 bills and perhaps take the old ones out of circulation. He implied that use of a $50 bill should also be examined.
He took particular aim at the resistance of Luxembourg to ending the €500 note, saying the tiny country has a “long and unsavory tradition of giving comfort to tax evaders, money launderers, and other proponents of bank secrecy.”
Also read: ECB may finally deal a deathblow to the €500 bill
On its website, the U.S. Treasury says it does not have “any plans to change the denominations in use today.” The government now issues $1, $2, $5, $10, $20, $50 and $100 bills.
The biggest bills ever produced for public circulation were $500, $1,000, $5,000 and $10,000 notes. But they were mainly used by banks and were phased out in 1969.
Several hundred $10,000 bills still exist and would be honored by the government, but they are held by collectors. A $10,000 bill in pristine condition can fetch $100,000 or more.
Getting rid of the $100 bill, or even the $50, won’t eliminate crime and corruption but would make it harder for criminals to launder money, Summers argues. “It may not be a free lunch, but it is a very cheap lunch,” Summers wrote.
¶ Lord King says Eurozone is doomed while EU slides back into deflation
The former governor of the Bank of England, Lord Mervyn King, says the eurozone is doomed to fail in his new book. His comments came on the heels of a Eurostat report that showed that EU inflation dropped to its lowest since Jan. 2015 in February to -0.2% from +0.3% Y/Y in January.
Yes, the Eurozone is a basket case, with Italy & France circling the plughole (closely followed by many other countries). I'm (UK) going to vote to leave, & if Obama doesn't like it, he can get stuffed!
Yes, the Eurozone is a basket case, with Italy & France circling the plughole (closely followed by many other countries). I'm (UK) going to vote to leave, & if Obama doesn't like it, he can get stuffed!
If only they'd read Orwell's Animal Farm. Every lamb should.
Charles Steadman "Charlie" Sanford was an American businessman who served as Chairman of the Board and Chief Executive Officer of Bankers Trust.
After graduating from the University of Georgia in 1958, where he was a member of the Gridiron Secret Society, Sanford served as a United States Army lieutenant. Sanford then returned to school and obtained an MBA from the Wharton School of the University of Pennsylvania in 1960.
Sanford's career at Bankers Trust began in 1961 as a commercial banking officer, and he was promoted through the ranks culminating in the positions of chairman and chief executive officer in 1987. Sanford retired from the company in 1996.
Sanford is credited with implementing the first value at risk (VaR) model. Prior to Sanford's quantitative measurement, credit and market risk was defined through ad hoc measures.
Cities with biggest outflows of millionaires The following cities had the biggest net outflows of millionaires in 2015.
Country Paris, Rome, Chicago, Athens Outflow of millionaires in 2015 7 000, 5 000, 3 000, 2 000 Millionaires in 2015 126 000, 73 100, 134 000, 22 000 % lost 6%, 7%, 2%, 9%
Destinations
• Paris: most moved to the UK, USA, Canada, Australia and Israel. • Rome: most moved to the UK and USA. • Chicago: most moved to other parts of USA (internal migration). • Athens: most moved to the UK and USA.
Why did they leave? We interviewed migration experts and HNWIs to find out on their reasons for leaving. Notable reasons that they mentioned included:
• Paris: Rising religious tensions, lack of opportunities. • Rome: Economic slump, lack of opportunities. • Chicago: Rising racial tensions, rising crime levels. • Athens: Economic slump, migration crisis with Syria/Turkey.
