Article

2006-12-28 International-UN-NGOs

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by .com 2006-12-28 01:22|| || Front Page|| [2 views since 2007-05-07] Top

#1 I tend to think of cash as anonymous, but I heard recently that use of individual notes is tracked, presumably they go through a scanning process when they go through a financial institution. Apparently, its a very useful tool in tackling international crime.

As the article suggests, the Euros popularity as cash may result from its popularity with criminals.

Posted by phil_b 2006-12-28 02:56|| 2006-12-28 02:56|| Front Page Top

#2 Bad money pushes out good.

The British just calculated that by not going over to the Euro saved the average Englishman 2,200 pounds.

Posted by Anonymoose 2006-12-28 07:44|| 2006-12-28 07:44|| Front Page Top

#3 The real key is buried in the article

Fast growth in the highest denomination notes, especially the 500 note, has raised suspicions that they are popular among criminals, although the ECB plays down this factor.

I've never lived there, but it's my understanding that financial transactions are much more automated (electronic) than in the U. S. Thus there was no domestic need for a 500 note. The exclusive purpose of this was to gain an $800 billion interest free loan from drug runners.

Somebody should tell Kimmie to stop printing chump change.

Posted by Benito Mussolini 2006-12-28 07:53|| 2006-12-28 07:53|| Front Page Top

#4 Run a comparison of public spending and debt and deficit spending by the governments against the GDP.

Crooks like Kimmie are going to find it easier to deal banks Euros than the dollar cause the owning governments are far less able/willing to hammer with effectiveness the ~~banks~~ money launderers.

Posted by Procopius2k 2006-12-28 09:06|| 2006-12-28 09:06|| Front Page Top

#5 The article ignores the fact that circulating cash is a small part of the money in circulation. By far and away the largest part is demand accounts: checking, bearer bonds, etc. The oil companies don't lug around suitcases of dollars or Euros to pay for a shipload of oil, it's all bearer bonds (and all electronic these days). And so far, the biggest chunk of all that is in dollars.

Posted by Steve White">Steve White 2006-12-28 12:58|| 2006-12-28 12:58|| Front Page Top

23:59 JosephMendiola
23:46 JosephMendiola
23:44 macofromoc
23:42 macofromoc
23:39 rammer
23:36 Old Patriot
23:25 Anguper Hupomosing9418
23:22 twobyfour
23:22 Anguper Hupomosing9418
23:14 Classical_Liberal
23:11 JosephMendiola
23:03 Sock Puppet of Doom
23:01 JosephMendiola
22:59 Frank G
22:57 trailing wife
22:46 trailing wife
22:43 Classical_Liberal
22:40 RecrutX
22:36 SteveS
22:26 Mike N.
22:21 wxjames
22:19 Jonathan
22:18 wxjames
22:11 trailing wife