E Larry Summers 100 Dollar Bill Ban And Westfalia Lost

Much has already been written about Larry Summers seeking a ban on the hundred dollar bill. Perhaps the strongest push back came from Tyler Durden. It is recommended reading for sure.

But there is more to know about this process that must be understood by real patriots. Here are the three most important and alarming facts that must be understood from Larry Summers’ words.

1. The announcement from Larry Summers was allowed to be published to all local TV stations. I about fell out of my chair when I saw the announcement on channel 13 in Las Vegas. The Los Angeles CBS local station carried the story as did many others.  Monetary matters just don’t make it down to the average man in the street very often. This clearly means that the people who control American media want or have been ordered to report, a move towards cashlessness. It won’t happen overnight. But the $100 dollar bill is a symbol of monetary freedom. The war on cash will be on full force if it is abolished.

2. As Tyler Durden mentioned, this onslaught against cash was couched in terms of crime. Crime is simply not the central reason for banning cash. Nirp is! It is dishonest for Larry Summers, who has made his views known on the possibility of negative interest rates to couch the argument against 100 dollar bills in a fashion that leaves out NIRP as a policy. The local news attempted brainwashing the public by not bringing up the possibility of NIRP as we relentlessly slide toward lower yields on the long bonds. This should be a crime in and of itself!

But speaking to crime, banning large bills has implications for helping criminals. People will want to hide smaller bills if larger ones disappear. But they will be easier to find. Criminals will start looking for wads of $20’s. Forcing families to hide larger bills will exacerbate crime.

3. People need to understand the concept of the Westphalian Peace, and the background of the professor at Harvard, who Summers looked to for the study on getting rid of the big bill, was a former British banker, formerly CEO of Standard Charter, Peter Sands. We have to understand what is going on here.