ECB to Kill the €500 Note

05.05.2016 • Politics and War

From Capital & Conflict (GBR) – Central planning, and the erosion of personal freedom – the European Central Bank’s governing council will meet to decide the fate of the €500 note. Prepare the bonfires. It does not look promising for the violet colored bank note that the press has dubbed the “Bin Laden”. The vilification of cash begins with the suggestion that only criminals, terrorists, drug dealers – basically anyone with something to hide – use it, especially the big bills. The ECB reckons that the €500 note accounts for just 3% of bills in circulation but 28% of the total value.

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