Why Governments and Banks Want to Eliminate Cash


This article was slightly revised at 11:07 a.m. on October 7 to conform to MNB’s editorial style. No substantive content was changed.

In this commentary prepared for RCW Financial, economist Dr. Scott Sumner discusses why governments and banks may be eager to discourage the use of cash, and the resulting potential loss of anonymity and future negative interest rates.

(Irvine, California) — Many governments and banks are discouraging the use of cash, but a problem with a cashless society is a loss of privacy, explains Dr. Scott Sumner, Professor Emeritus of Economics at Bentley University in Waltham, Massachusetts. He points out that Sweden already is moving toward eliminating all coins and paper money, and Italy and Canada are beginning to discourage the use of cash.

Sumner predicts the elimination of cash would make it easier for governments to impose negative interest rates and could lead to increases in values for gold and alternative currency, such as the Bitcoin.

In a commentary prepared on behalf of RCW Financial of Irvine, California, titled, “Why Governments and Banks Want to Eliminate Your Cash,” Sumner wrote about the irony of the push for a cashless society at a time when billions of U.S. dollars are in circulation.

“Surprisingly, despite the increasing use of credit cards, cash holdings are about 8% of gross domestic product, which is actually a larger share of the U.S. economy than a decade ago, indeed even larger than 90 years ago. The amount of cash in circulation (paper currency and coins) is roughly $4,500 for every man, women and child in America. It is believed that roughly half that total is held overseas, but even $2,000 per person would be a surprisingly large figure, far higher than people admit to in government surveys. Ironically, it is this increasing popularity of cash holdings that helps explain why governments are so anxious to discourage the use of cash,” wrote Sumner.

He pointed out that until a few years ago, most economists thought negative interest rates were virtually impossible, but that now is reality in some European countries and Japan.

Another implication of a cashless society is the loss of privacy. “The anonymity of cash is what makes it appealing to many people, but it’s also what makes it increasingly unpopular with governments. They see cash as a way of evading taxes, as well as facilitating drug dealing and other nefarious activities such as terrorism. . . But regardless of how you feel about privacy, this seems to be the direction the world is moving,” Sumner stated.

“The removal of cash would not have a major impact on the overall economy. It would slightly increase the government’s ability to collect taxes, and it would somewhat increase the effectiveness of monetary policy during recessions. Banks would benefit from increased use of credit cards. For investors, it might lead to an increased demand for cash substitutes, such as Bitcoin and precious metals, pushing their price higher.”

Sumner studied economics at the University of Wisconsin and received a PhD from the University of Chicago. He has done extensive research on the role of the gold standard in the Great Depression and is Professor Emeritus of Economics at Bentley University in Waltham, Massachusetts, where he has taught since 1982. Dr. Sumner received national recognition in 2012 as one of the “Top 100 Global Thinkers” by ForeignPolicy.com and was named “The Blogger Who Saved the Economy” by The Atlantic magazine.

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  1. bobo says

    And if they force us to pay with credit cards, they are then forcing us into their usury, since credit cards often charge 18% interest.

  2. KML in KY says

    I’ve never paid a penny of interest on a credit card but over the years they have paid me quite a bit in rewards for buying coins from the Mint. I never charge any more than I can afford to pay in full. Barring some kind of emergency I hope I never have to pay them any interest.

    Hey, speaking of”nefarious” uses of cash, didn’t our government recently make a large cash payment to the government of Iran in order to get around banking laws? I don’t think they will totally get rid of cash anytime soon.

    At Chase Bank where I have an account one of the bankers told me that any cash deposit had to be reported to the IRS. I’m not sure about cash withdrawals.

  3. cagcrisp says

    @KML in KY, “that any cash deposit had to be reported to the IRS. I’m not sure about cash withdrawals.”

    The limit is $2,000 on “suspicious activities”

    The limit is $10,000 on Any cash withdrawal or deposit (unless it’s deemed a normal business activity)

    It’s not reported to the IRS, it’s reported to Department of the Treasury

    That’s how the government caught former House Speaker Dennis Hastert. He was structuring cash which is also illegal.

  4. So Krates says

    KLM says, “I’ve never paid a penny of interest on a credit card but over the years they have paid me quite a bit…”

    Me neither. They are tools. Rewards and miles are chump change. A few years ago it was quite easy to make REAL money from credit card manipulation.

    1)Apply for dozens of cards (called an Appalooza) on the SAME day. If one wants larger limits, one could inflate stated income, assets, etc. (this is the only part of the scheme that may be questionable/illegal but it is not necessary)

    2)after getting a bunch of cards, combine the credit lines of similar cards so one card has a very high limit and leave the other cards open but with a only a $500 limit (the closed cards will ding your credit score).

    3) Take advantage of intro 0% balance transfer offers – but transfer the advances to a card with no existing balance. Must have no or minimal FEES associated with transfer.

    4) request a check for the credit balance on card that received transfer

    5) invest balance in high yield CD/MM acct. for full term of 0% credit card offer.

    6) Make monthly payments DILIGENTLY – just ONE late payment can bring the whole thing down.

    7) wash, rinse, repeat. The banks start to see the large credit lines and regular on-time payments lines and are willing to grant even bigger limits during your next Appalooza.

    As yields went down and fees for the balance transfers became 3%-4% with few exceptions, it became more difficult to pull off. Still totally possible though – just gotta look harder and the spread is smaller, just not worth it to me anymore. One could easily get their total credit lines well into six figures.

    Be advised that this no risk technique will temporarily decrease your credit score, mainly due to the credit utilization ratio being too high. You’re basically using all your lines to arbitrage and therefore have little available credit, so it looks like your really strapped cuz everything is maxed out making YOU money by taking it right OUT OF THE BANKERS POCKETS!

  5. So Krates says

    cagcrisp says, “The limit is $2,000 on “suspicious activities”

    I have always found this number hard to pin down, but often see a $5K figure mentioned. If possible, can you reference your source?

  6. Discovergold says

    Chase bank will copy your ID for deposits that includes any amount of cash – even $5

  7. So Krates says

    @ Discovergold – That is a waste of time because they already have it on file from when they opened the account. I might understand if the account you’re depositing into isn’t yours, but if you’re the owner that is stupid. IMO Chase retail banking sucks more than most.

  8. Felson says

    I prefer my Credit Union to a bank. I went to cash a check recently at Bank of America and they wanted to charge me $5 to cash the check. I asked them to explain why I was being charged to cash a check drawn on their bank and was told that since I didn’t bank with them it was their policy. It makes no sense to me that I should be expected to accept a check from someone using their bank and be charged because I did. So I don’t accept checks from them anymore.

  9. Mint News Blog says

    Thanks for the reminder! I went back to the site and found two; the one I recall reading – and this may be the one you’re thinking of, too – was this piece, which is a fairly friendly book review. Another one I encountered is a critical piece by Frank Holmes of U.S. Global Investors, republished on the Business Insider site. I have a feeling most MNB readers will find it compelling.

    For lagniappe, here’s an interview of Rogoff from the Washington Post site.

  10. So Krates says

    @ Felson – I agree. I find it most frustrating when looking at it from the account holder’s point of view. When I open a checking account I would expect the ability to write checks to all people and businesses. Most are “fully banked” and will deposit my check into their bank account but occasionally I will write a check to someone who might want to present it at a branch for cash. This should be included in my account privileges and not passed on to the person cashing the check (who is more likely to be “unbanked” and of less means). I can understand charging if you have a payroll and workers are lining up to cash checks, but an occasional small cashed check should be free. These jerks will nickel and dime you to death.

  11. So Krates says

    Great word, Diana!

    Welcome to the job and thanks for the articles.

    Gotta go to Church now….Good luck to you all <<

  12. cagcrisp says

    @So Krates, “I have always found this number hard to pin down, but often see a $5K figure mentioned. If possible, can you reference your source?”

    Source: Friend that owns multiple banks

    The $10,000 is a hard and fast rule. The $2.000, not so much so. Before the world changed, I used to have to go to Vegas to conduct some of my “business” and as such I had to withdraw a lot of cash. When the law changed to $10,000 my banker friend alerted me to the law. Subsequently the “structuring” came into being. After going to banking conferences and consulting with other bankers, he determined that I should be good as long as I kept in under $2,000 and “not suspicious”.

    After you asked, I did google to see IF I could find anything about the $2,000 and I came up with this article

    “Transactions of less than $2,000 don’t typically trigger reporting. ”


  13. cagcrisp says

    @Steve, “i do wonder why those that are always throwing out stats, don’t have any info yet. I think first day sales will be around 15,000….and final sales will be around 22,000.”

    I’ll Throw out 15,225 for Launch Day

    I’ll Through out 15,972 through Tonight

    When the Mint actually pulls the offering I’ll Through out 18,379…

  14. KCSO says

    As one that is always throwing out stats and analysis, Cag, my analysis likes your launch day figure of 15,223. With that, I’ll throw down (analysis based, of course), 18,889 on the final wrap up.

    Though would caution drawing any immediate conclusions, as Pre-Sale figures and launch day sales are no more predictive of future preformance than selling silver Liberty Medals pre-sale at $99 each, nor pre-sale ’15 Platinum Proofs presale at $1,800, nor Truman C&C, my beloved ’15 Buffalo which is charging on nicely, and the list goes on.

    All these launches (for the most part), evolve differently..,
    as we’ll see with the next two big launches

  15. bigguy says

    My wife and i save money and sometimes keep it for an emergency,alot of old people used to hide money in their house and property ,because they did not trust the banks,because of the great deppression , if that happened today you would have nothing to fall back on ,because cash would be no good.My grandfather was one of them.If you go cashless you could never do anything like that ,the government and banks would always know everything you owned,and the IRS,They would just get on the computer and check you out.personally i do not like this,nothing would be private at all.you think you have a problem with hacking bank accounts now,just think if all the people that hack could get to everything you own online. i think that is really a bad idea,i know we still have account # on line know ,but i have money that not everyone has to know about ,that is not in a bank.Just my personal thoughts

  16. bigguy says

    my mother in law husband died a few years ago and worked foe chessie system,he past away about 11 years ago,she has received his retirement ever since the rail pays the 1st of every month auto deposit on the 1st , they pay in arrears the money would be for june 2016 ,my mother in law passed away july 4th 2016 on the 7th of july the bank sent the deposit back to the railroad,without our knowing it,until to late.talked to a dozen different people at the bank they said it was there policy,we have not got the money back yet.THIS BANK DOES WHAT IT LIKES,I CANNOT EVEN THINK ABOUT THEM HAVING ALL MY MONEY ,AND NOT HAVING CASH.THEY THINK THEY HAVE THE RIGHT,YOU ARE A LITTLE PERSON AND THEY ARE KING

  17. NcCoinCollector says

    To my knowledge there is no magic number. If the bank teller believes you are engaged in suspicious activity they are to fill out a SAR (suspicious activity report).
    lots of people choose to travel with cash and pay for furniture, large appliances and used cars with cash so if you are upfront there should be no worries.
    What is worrisome is that many financial institutions no longer allow cash to be kept in safe deposit boxes.

  18. Goat says

    cagcrisp says
    OCTOBER 8, 2016 AT 9:58 AM

    When Goat first asked his question about a cashless society, he asked “The big question is what is the best way if we go into a cashless society ?

    SO far Most have opined the merits of a cashless society and have not answered the question he asked. Regardless of what you WANT to happen, it will either happen or it will not. The question that Goat asked is what is the best way IF we go into a cashless society?

    1. Old gold/silver ?
    2. Bullion/proof gold/silver ?
    3. New gold/silver ?
    4. Or just any gold/silver that has weight/value amount with low premium to spot ?
    5. Sell all high premium and buy low premium for quantity ?

    Try to put aside your For vs. Against a cashless society and try to help those that will actually be facing a cashless society in the future.

    For me it’s not a question of IF but When and I have been preparing for it for years. IF it Doesn’t happen, I’m Golden. IF it Does happen, I HOPE I’ve got the right strategy but I have NO idea If I will be the correct one or not…

    @cagcrisp and others that replied ;
    Thanks for the Help. I do hope we have the correct strategy. As I posted my direction, I feel many people will not act on what they are feeling, will wait until it’s too late. Economics can be argued from many different opines/facts/numbers, that’s why it’s hard to see the proper direction. Everyone wants to have/see a progress situation. In some case’s in history the classroom slate board will be wiped clean for a new start. I do think the 5-10% of PM’s of one’s total holdings is too low. In all wars/economics disasters the hiding/transfer/hoarding of gold/silver can be read in all cases back to the beginning of time. I think since the day I was born I should of dollar cost averaged PM’s ,(when silver change was face value, wow was not thinking then) but now have to make up loss “time”. The “world” has showed it’s bearish side , many warnings but somewhere there is a once in a life time opportunity.

    Sometimes weekend postings are little, you sure turned it around this weekend. It feels good to have more information.

  19. Goat says

    One family member buried cash (gold/silver notes) in mason jars, A lot of gold/silver cert. did not make it. WARNING!! cash will rot due to condensation in the jar when earth changes temperatures.

  20. Bigguy says

    Not really talking about putting under the earth,just remember you will not be able to have anything for the future without someone knowing it

  21. MikeinPA says

    I know it’s the weekend but it seems like most of the conversation is aimed at the doomsday crowd, nice to have some cash stashed for an emergency (not the kind most posters forecast) but anything above that is pure speculation, but if you prefer to live on what may happen, or enjoy the friends and life that is happening is entirely up to you, I prefer the latter

  22. Wdg5khp says

    Does anyone know the HHL for Walking Liberty Coin? Noticed that it got put on the calendar for the 17th of next month……I have prolly been asleep at the wheel….. 🙂

  23. KML in KY says

    Thanks to everyone for their input on the banking rules. I only know a little about it. I’ve had an account at Chase Bank for many years. I also have an account at a smaller local bank. I understand that if the to big to fail banks crash again there will be a bail in rather than a bail out and the depositors will get screwed.

  24. KCSO says

    Wdg5khp – we should know more by next Wednesday/Thursday by COB.

    The mint trend has been to release mintage and HHL exactly 7 days from when the release hits the PS. Though one never knows with the crazy mint.

  25. bobo says

    Let’s translate bank newspeak:

    “bail in” = confiscation of your money
    “negative interest rates” = confiscation of your money
    “too big to fail” = too big to jail (because they bought the gov’t with printed money)
    “quantitative easing” = printing money for the banks to be paid off by you and your kids as inflation and taxation
    “plunge protection team” = printing money to buy stocks, to make it seem like things are OK
    “Federal reserve” = privately owned banking cabal that makes and prints money for its owners

    Imagine playing Monopoly, where one player gets to counterfeit as much currency as he wants. Who do you think will end up owning everything, you or that player? That is what the Fed system is, a scam perpetrated on the US population in 1913 for the benefit of the owners of the Fed system.

    But who owns the Fed? Well they try to hide this info as much as possible. But eight highly intermarried clans that appear to have a controlling interest of our Fed and most other central banks include “Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome.” (http://humansarefree.com/2015/06/the-federal-reserve-cartel-rothschild.html)

    How do we take America back from these mafiosos? A beginning would be ending the Fed.

  26. cagcrisp says

    @ MikeinPA says”I know it’s the weekend but it seems like most of the conversation is aimed at the doomsday crowd, nice to have some cash stashed for an emergency (not the kind most posters forecast) but anything above that is pure speculation, but if you prefer to live on what may happen, or enjoy the friends and life that is happening is entirely up to you, I prefer the latter”

    You will not see any Doomsday from me.

    I own Big Banks and have no problem with a cashless society. There will be winners and there will be losers.

    You just have to have a game plan that works…

  27. cagcrisp says

    Guesstimates for Mintage and HHL for the Walking Liberty Half

    earthling 200,000/1
    Mike in NY 75,000/1
    KCSO 90,000/2
    cagcrisp 100,000/5
    MT 75,000/2
    Yes, But…You Can’t Take It With You 50,000/1
    NcCoinCollector 75,000/1
    Louis 50,000/1
    longarm 100,000/1
    Tony 50,000/1
    Karl Meyer 65,000/1
    Paddy 70,000/1
    Tinto 55,000/2
    Gary not Dave 25,000/1
    Steve 60,000/1
    Big L 75,000/1
    Peter 75,000/2
    HarryB 75,000/2
    DBR 75,000/1
    zephin 55,000/1
    Old Big Bird 50,000/1
    baldwin 75,000/2
    Wilycoyote 50,000/1
    Mark Rex 40,000/1
    Montana John 125,000/2
    dave 45,000/1
    Mr. Kairu 60,000/2
    a Bob 80,000/1
    Big C 65,000/2
    Don 50,000/2
    ClevelandRocks 75,000/1
    Imaginary 65,000/1
    Jerry Diekmann 75,000/1
    MikeinPA 100,000/3
    smalltimecollector 45,000/1
    CF 60,000/2
    Joe M. 75,000/1
    Ikaika 65,000/1
    Ron 75,000/2
    Throckmorton 50,000/1
    achmed 100,000/2
    Dean 75,000/2
    beaver 100,000/2
    asherspapa 75,000/2
    Goat 75,000/1
    data dave 80,000/1
    JARHEADnFLORIDA 100,000/4
    Teach 50,000/1
    The Real “Cool” Brad 90,000/5
    gatortreke 80,000/2
    Vancer 80,000/1
    Dustyroads 75,000/1
    ike 50,000/1

  28. Old Big Bird says

    All this talk about a cashless society. If they continue to push a one world order and global money.
    What happens if the government closes all bank transactions in this county? Without hard currency
    we will all be sucking winds. And if you think that could not happen you better get your heads out of the sand.
    It is not doomsday talk it is a possibility. So thank you very much I will hang onto my coins.

  29. cagcrisp says

    With today’s Gold fixes to get a One Level price drop on Gold we only need to Average below $1,381.55 for the remaining 3 fixes AND we need to stay below $1,300.00 for Wednesday’s PM fix…

    You still do NOT need to buy any Gold from the Mint until Wednesday afternoon, and Yet, we will see some Gold sales for products when sales numbers come out.

    Thanks for helping to pay down the national debt…

  30. says

    Well how about that Reagan C&C set?

    Buy tomorrow at the starting bell? Or leisurely over the week?

    I could easily see first day sales of over 65k.., though anything over 100,000 in the near term a psychological barrier (at least from my point of view)

    I’m interested to hear that others think

  31. Larry says

    Because the Regan C&C set will include the 30th Anniversary Silver Eagle, maybe the sales will be higher than you think. Maybe some folks that were going to buy the ASE decided to kill two birds with one stone, and wait for this set.

  32. Pigpen says

    KML in KY,

    I do the same with my credit cards. It’s not life changing money but nice to get a little fun cash back.

  33. cagcrisp says

    Tried to dummy up my Promo code today to get Free Shipping and I got “Promo code unknown”

    I’m Totally Devastated…

  34. Numismatrix says

    Well how about that Reagan C&C set?

    I’ll do it during later in the day when I have a spare moment.
    To save shipping I’ll add an additional 2-3 items.

  35. Hawkster says

    But Larry, collectors of the annual ASE prefer to purchase said coin encapsulated in the blue velvet presentation case topped with a metallic heraldic Eagle–not as an add-on to a C&C set.

    KCSO: I know, no value.

  36. Teach says

    Hawkster, I am one of those people who will buy both forms of the ASE. I like the little blue box 🙂

  37. Teach says

    I am going to wait on the C & C set. I see no reason to be in hurry for this one. If there was a special ASE it would be a whole different story. I think I will wait to combine this one with something else for shipping savings.

  38. cagcrisp says

    Winged Head Liberty dime 70s update…

    The Last listed auction 70 from texasgse ended Yesterday. Prices have already appeared to strengthened since the departure of 24 auctions per day for months…

  39. NcCoinCollector says

    I plan to purchase Reagan C & C tommorow.

    If I recall correctly, one aspect of the ,”New World Order” was a world currency. Maybe cashless society helps get us there. To be clear that idea pops up pretty often in mainstream books on globalization as well. On the other hand it could be argued that silver is, has been and will be the only global currency (aside from trust and loyalty) the world has known.

  40. KCSO says

    cagcrisp says
    OCTOBER 10, 2016 AT 11:35 AM

    Tried to dummy up my Promo code today to get Free Shipping and I got “Promo code unknown”

    What do you mean, Are they really running a free shipping promo? Or is just select targeted folks receiving a code to entice them to buy something?

    If there’s a generic free shipping promo code, please post here, I’m sure a few of us could have a field day with it. Thanks

  41. KCSO says

    I wish I had waited on buying those Proof ASEs through enrollment last month and just gone with the Reagan sets and just added a single ASE to that order. Thought demand would be considerably more than it has been to-date for the ASE-W.

  42. cagcrisp says

    @KCSO, ” Or is just select targeted folks receiving a code to entice them to buy something?” Yep.

    Free shipping if you purchase the 2016 United States Mint Proof Set or the 2016 United States Mint Silver Proof Set.

    Wasn’t interested in Either product. Just interested is Seeing IF the code worked. It didn’t…

  43. Mark Rex says

    Could use the code to order all the items you want and the Mint Set then just return the Mint Set for its undoubtedly poor quality. lol

    My finance got the code, I haven’t tried to use it yet. I was going to try to use it when ordering 3 of the C&C sets and another TR P tomorrow. I didn’t know part of the deals was having to order one of those sets.

  44. TNDuckHunter says

    So my question is, Why are “we” as a society doing to stop this from happening? We know that the reasons they are giving for eliminating cash is simply in an attempt to push their agenda – to gain even more control over people. Once cash is gone – we are slaves to the government and banking system. If you want to maintain privacy with regard to your personal wealth – you cannot. The Elite, however, will always remain exempt from the rule of law. We are all in big trouble if things continue down the road they are going now. Everything that is happening in society is all tied together, Once guns have been taken away – everything else becomes easy to achieve.

  45. Larry says

    Rats. I won’t be at a computer tomorrow at 12:00 ET because of work. Still, I think the Regan C&C set should be around a while with 150K to sell.

  46. Xena says

    KCSO – I’m in at the starting bell. One, it’s at lunchtime when I have more flexibility to be on the internet and 2, I’ve given up on trying to save $4.95 in the sell-out guessing game. I’d rather know that my 2 sets are complete.

  47. Dustyroads says

    KSCO, It’s too bad you were on the back side of the Reagan era. Thinking about Reagan reminds of my first girlfriend, who ripped my heart out and stomped on it!!! Oh…sorry.
    You were also on the back side of the Star Wars phenomenon as well as Jaws, what a time.
    I was aware that we were in a recession, but was a little too young to be worried by it.
    Later though I was a firm believer in Reagan’s policies and was proud to have him as POTUS while we did. Still though, I’m not excited about the sets. If they were better looking I might consider it, but I won’t be in at any time. I must say I have a hard time believing these sets will ever sell out.

  48. Dustyroads says

    So Krates, You know very well that we all were facing something we had never dealt with before, then mix that with sentiments of another day and time and you get something that sounds like this. I don’t think people should be practicing this kind of behavior, nor do I think people should be doing things like sharing needles, but the fact of the matter is that we are all in this world together and we have to share in the wake brought about by these types of behaviors. Most of us know someone effected AIDS, I myself had a monogamous friendship with a girl who couldn’t seem to walk straight. Then came the day she told me she had AIDS, that was in the mid eighties. 658,992 people dead because of a behavior, just stupid. And what gets me is that while so me people are mortified by one mans claim about how he likes to make out with women, those same people are praising behavior that has caused the deaths of countless people all over the world, not to mention the murders of millions of children on the basis of an umbilical cord connection. You can blame any ONE person for deaths all day if you want to, but it would be a whole lot better for everyone of us if every individual would humble themselves before their God, then maybe we won’t have to have a reckoning like what appears to be very, very close. But take heart So Krates, because there is hope for everyone.

  49. bobo says

    I think the international bankers who own the Fed and want to rule the world, have been planning a one world digital currency under their sole control for a very long time. The Rotschild owned magazine “The Economist” in 1988 predicted that there would be such a currency in existence by 2018. They probably called it ‘the phoenix’ because it would rise from the ashes of economic mayhem, we can assume, that they would trigger. That will have to start pretty soon if they are going to stay on schedule.


  50. data dave says

    I don’t think the US will go to a cashless society anytime soon because we are exporting over $100 Billion per year in C-notes. Now if those would start coming back, then maybe so.

  51. So Krates says

    Dustroads – Unlike you I didn’t blame anyone…just pointing out one of many areas where your idol clearly had the wrong policy after you said how great his policies were. If he wasn’t weighed down with bronze age tribal biases from some old book he probably would have acted more quickly.

    How much more humbled before their god should a hemophiliac have been to avoid contracting HIV/AIDS?

    “I myself had a monogamous friendship with a girl ”

    Does this means she can only be friends with you and have no other friends? 😉

  52. says

    Ronnie Reagan was a tool who ushered in the Bush crime family,. I guess nobody remembers the male escorts who got midnight tours of the White House or the little boys who were flown in from Boys Town for late night sex parties.

  53. data dave says

    Bad news for coin collectors – the US Mint will not buy back mutilated coins anymore. As long as you can get them to go through the Coin Star machine I guess you are okay. The banks could someday stop accepting them entirely. Maybe that is the first step toward cashless – stop accepting coins.

  54. Buzz Killington says

    @SK — Perhaps the monogamous friend went before the temple, and pierced her ear with an awl, meaning that she now willingly belonged to him forever.

    Yes, Bible Readers, the same god who gave you your precious 10 Commandments also gave detailed instructions about the keeping of slaves, and when you got to keep the wives and children of your slaves, etc. Listening to people on their moral high horse about one god or another makes me sad about how slow the victory of science over superstition is taking.

  55. says

    I must have been dozing. When did the HHL for Regan’s C&C go from 5 to 3? Was I mistaken? Was it always 3? Please update me. Thanks all.

  56. IPS_STUFF says

    Not that this is a coin blog ?

    But if we are going to be bashing the bible by taken selective portions and using it to decide the science should take a victory over FAITH (named superstition by some), then the moderator must step in and moderate.

    I suggest someone take a little more time and actual read the bible, all 66 books.

    Oh and I will be buying a few sets of the Coin and Chronicle sets today, may share a few with my very nice bible reading friends.

  57. marc says

    I thought I was on craigslist reading the rant and raves . Trashing the bible again and sex party in the white house. What is next the creepy clowns.

  58. says

    I don’t agree that it wouldn’t have an impact on the economy or have a slight impact. I think it will change everything

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