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Paying With A Hundred Dollar Bill? Prepare To Fill Out A Form

Tyler Durden's picture




 

While depositors in Europe are having their money confiscated outright by their less than friendly governments and despotic, tyrannical politicians who will do everything in the name of "equality, fraternity and of course liberty" or, said otherwise, preserving their careers and the status quo while throwing their taxpayers and voters into the firepit of Keynesian and monetarist idiocy, in the US a different form of capital control may be taking shape.

NBC reports from Rhode Island, where a local restaurant chain is now demanding that any clients paying with $100 bills also provide their name, phone number, and drivers' license. By doing this - supposedly in the name of avoiding counterfeiting but don't you dare mention fake bill spotting markets or UV light - it eliminates the only upside that paper money had over electronic transactions: anonymity. How soon before all other retailers and vendors decide that it is a good idea to demand their clients' personal info, for the sake of avoiding counterfeiting of course, first in all $100 bill transactions, then $50, then $20, and so on?

And with the government already cracking down and commencing the regulation on BitCoin, maintaining gold tender is illegal and demanding tax records for all purchases and sales, and providing zero benefits to bank savers in the form of ZIRP, what is conflicted US consumer to do? Why spend of course, fully aware that every even cash-based transaction will be recorded for posterity, and for the benefit of Big Brother.

From NBC:

A local restaurant chain is now asking customers to fill out a form before paying with a 100. They say that's because they are often on the losing end off counterfeit $100 bills.

 

Bob Bacon, owner Gregg's restaurants, said his four locations have received 5 fake $100 bills in the last three months. "When this happened once a year, it was kinda the cost of doing business," said Bacon.

 

This starts to happen as frequently as it has since December, then it becomes something you at least have to do something about," Bacon told NBC10 News.

 

The form asks for name, phone number, and drivers license number, which Bacon says is like what some places ask for from check users.

 

Bacon does not think his customers are the counterfeiters. He says, "We're not getting the information so we can call up and say, you owe us a hundred dollars. That's not it at all. It's not about restitution. It's about gathering information and being able to maybe create a paper trail that leads to some resolution on this and maybe finding the origin of it."

 

Bacon admits some customers have complained about the new policy. But he also adds the restaurants have not gotten any fake $100 bills since the policy was implemented 10 days ago.

And the video for the reading-challenged:

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Fri, 03/22/2013 - 15:04 | 3363224 SeverinSlade
SeverinSlade's picture

Funny because technically every FRN in existence is "counterfeit money" per the Constitution.  Only gold and silver are supposed to be legal tender.

Fri, 03/22/2013 - 15:08 | 3363249 redpill
redpill's picture

Here's the deal Bob, you can take my $100 or I can tell you to go fuck yourself and walk out the door.  Which do you prefer?

Fri, 03/22/2013 - 15:11 | 3363262 idea_hamster
idea_hamster's picture

They say that's because they are often on the losing end off counterfeit $100 bills.

Simple solution -- just cut down on your North Korean clientele!

Fri, 03/22/2013 - 15:12 | 3363274 redpill
redpill's picture

Better yet, just fill out Benjamin Shalom Bernanke as the customer name.

 

Fri, 03/22/2013 - 15:15 | 3363287 idea_hamster
idea_hamster's picture

Too bad I can only +1....

Fri, 03/22/2013 - 15:16 | 3363299 ndotken
ndotken's picture

According to the US Govt, the bill is legal tender for ALL payments. If good 'ol Gregg doesn't want to accept it, then you're free to walk right out the door.

Fri, 03/22/2013 - 15:19 | 3363306 redpill
redpill's picture

It's legal tender for all debts.  There is a difference.

Businesses can choose to not accept cash at all if they want as long as it's for a good or service purchased at that time. 

Fri, 03/22/2013 - 15:25 | 3363341 TrumpXVI
TrumpXVI's picture

Right.

But one usually pays a restaurant bill after one has dined, correct?

So, that makes a restaurant bill a debt that needs to be discharged.

Or am I missing something.

Fri, 03/22/2013 - 15:29 | 3363357 Supernova Born
Supernova Born's picture

The mighty $100.

You'd need a $1670 dollar bill to equal the buying power of a $100 when it became the largest bill printed in 1936.

Fri, 03/22/2013 - 15:42 | 3363434 Beam Me Up Scotty
Beam Me Up Scotty's picture

TPTB want us all on a paperless system anyway.  I wouldn't put it past our very own government to make their own counterfit bills.  They can undercut the faith in real paper currency, and steer everyone to credit or debit cards.  Think about that, they could make counterfit bills and send them into circulation, and get the benefit of them when they release them, and then tell the little people they won't redeem them and confiscate the bills with no payment back.   Why flood the market with "real" fiat, when you can flood it with "counterfit" fiat.  I shouldnt be giving them any ideas.

Fri, 03/22/2013 - 15:55 | 3363504 Doomer
Doomer's picture

Counterfeit $50's bitchez!

Fri, 03/22/2013 - 15:58 | 3363518 SafelyGraze
SafelyGraze's picture

1. stop eating at restaurants

2. stop buying stuff

Fri, 03/22/2013 - 16:07 | 3363557 francis_sawyer
francis_sawyer's picture

OK Project Mayhem-ers

~~~

Gregg's Restaurant(s) PROVIDENCE, RI

https://greggsusa.com/locations

Fri, 03/22/2013 - 17:35 | 3363894 Long_Xau
Long_Xau's picture

You seem to have no lack of enthusiasm serving and defending the federal reserve note. Also no moral restraint.

On the other hand, the article talks about how this guy, strangely enough, is not concerned about paper money being too fallible in too many ways. It says this guy, apparently just like you, wants to help Benny extract as big a share of the dollar seigniorage as possible. Think before you talk/act and make up your mind!

The fact is that if the owner makes it clear to everyone entering the restaurant, BEFORE they order anything, what are the ways they can pay their bills - all is fine. You are not suggesting the businessman shouldn't have that freedom, are you?

Fri, 03/22/2013 - 21:05 | 3364590 StychoKiller
StychoKiller's picture

Here's a thought:  TRAIN yer employees on how to check for counterfeit benji's!

Fri, 03/22/2013 - 21:57 | 3364725 Lore
Lore's picture

This guy seems a bit strange. I wonder as to his real motive. "Counterfeiting" might be a cover for some other passive-aggressive agenda. Or one of his staff might be stealing from the till, and this is his way to ensure a paper trail.  I rather suspect the latter. 

Regardless, any business that doesn't accept anonymous cash can simply be avoided.  LET THE MARKET SPEAK. 

It is disturbing how many people rely exclusively nowadays on plastic. When our bank runs start, they'll be the ones standing in line at the ATMs (assuming they have some savings and aren't completely debt enslaved).

Sat, 03/23/2013 - 11:19 | 3365464 Long_Xau
Long_Xau's picture

This article about the same story (thanks spooz) says they did all normal tests on the notes, but the fakes were too good. The super-good fake dollar bills ("superbills") are becoming a more and more substantial issue. I have a strong suspicion that the central/commercial banking establishment has been keeping the issue of serious counterfeiting quiet so as not to admit fault. It is their responsibility to provide as strong a medium through which people can establish a trust relationship with them as they can. Otherwise their currency gets kicked out of the market as unworkable or unreliable. Every time a buyer and a seller want to make a deal they have to establish trust between each other. Under the current monetary system the central bank is a common trusted party. The buyer trusts that the currency he has in his pocket is issued by the central bank and that the central bank is reliable (otherwise he wouldn't be holding it) and the seller trusts that the currency he is given is issued by the same central bank and that the central bank is reliable.

The central bankers and/or the treas[on department] intentionally delay the issuing of the better protected FRNs to the public. They expect us to use electronic money which require longer chains of trusted third parties (banks, payment processors, certification authorities, etc. who by the way do NOT do any honest effort to establish anything near strong security) and are therefore also very fallible. The central bankers don't care how people are supposed to establish trust with them. The logical corollary is that: 1. even the central bankers themselves know that trusting them is worthless and senseless, because they are crooks, so why would YOU trust them? And 2. they don't give a rat's ass about destroying already established trust relationships between people who transact in their currency when more and more often, inevitably, fake notes turn up during transactions.

The observation of this Bob Bacon guy that suddenly around December 2012 the bank started confiscating more fakes might simply reflect a new policy or procedure for testing bills more thoroughly, which should be a little red flag for potentially more trouble ahead when using FRNs.

With those notes in circulation it is way too costly to try to protect yourself from them. If you just pretend they are all real and keep circulating them, it means you are paying more inflation tax (to the government of North Korea and other official and non-official organized crime rings) AND running the risk of notes being confiscated when someone detects them. Why would you want to pay such a price for someone else's irresponsibility?

So STOP defending the usability of the fiat currency!

Fri, 03/22/2013 - 16:07 | 3363564 Bicycle Repairman
Bicycle Repairman's picture

Private enterprises cannot enforce this sort of thing.  They'd get boycotted, if it was too onerous.  This is government's thing.  So no panic here.

Fri, 03/22/2013 - 16:41 | 3363675 ronaldawg
ronaldawg's picture

Will HOOKERS make me fill out a form?  No can do - the wife will find out for sure...

Fri, 03/22/2013 - 16:55 | 3363715 Henry Hub
Henry Hub's picture

She going to find out anyway when you go home with the clap.

Fri, 03/22/2013 - 18:53 | 3364204 FeralSerf
FeralSerf's picture

The best defense is a good offense in this case.  Accuse her of fucking the cable guy.

Sat, 03/23/2013 - 03:01 | 3365052 ronaldawg
ronaldawg's picture

Clap don't mean nothing.  Like having guacamole coming out your peewee.

(Spent some time in the PI back in the day)

 

Fri, 03/22/2013 - 21:47 | 3364701 MachineMan
MachineMan's picture

No, she just won't send the syphilis antidote if the bill is fake.

Fri, 03/22/2013 - 17:15 | 3363824 Groundhog Day
Groundhog Day's picture

the birth of a child in a mother's womb takes 9 months.  The birth of new financial system would also take 9 months if everyone stopped spending money for only 9 months.  Executive comps, lobbying, corporate corruption, etc needs the feeding frenzy of consumption to stay alive.  The only way "we the people" have a shot in hell from the sociopaths in government and corporate board rooms is to teach them "we" still have the power but only if it is done collectively in an organized way.

 

Now go spend your money and max out your credit cards

Fri, 03/22/2013 - 16:31 | 3363640 Sokhmate
Sokhmate's picture

The counterfeit $20, $10, ETC..

Fri, 03/22/2013 - 16:55 | 3363717 RazvanM
RazvanM's picture

I'm sure the ones with the counterfeit 100 will oblige.

 

Question: what's the difference between a counterfeit 100 bill and a genuine one?

Fri, 03/22/2013 - 15:56 | 3363510 Beam Me Up Scotty
Beam Me Up Scotty's picture

Nickles or pre 1982 copper pennies are the only ones worth saving.  The melt value of the new dollar coins is only .05 cents.  Even regular Ike dollars are only worth 20 cents melted.  So a nickle = a presidential dollar in melt.

Fri, 03/22/2013 - 16:47 | 3363695 francis_sawyer
francis_sawyer's picture

Not to mention that they're NOT 'FRN's'... [aka ~ they're NOT some jew bankers fantasy debt]...

Fri, 03/22/2013 - 23:03 | 3364871 Agstacker
Agstacker's picture

I've been picking up nickels, they will change the composition probably by next year, I'm thinking steel or something of that nature.  

Fri, 03/22/2013 - 15:41 | 3363407 redpill
redpill's picture

No it's not a debt, it's an invoice.  The language on FRNs that applies to all debts public and private is to prevent lenders from making it impossible to repay your debt to them based upon arbitrary demands concerning form of repayment.

Conversely, the restaurant isn't giving you a loan to buy food, it's selling you food directly, and they can choose what types of payments they will accept for their food.  Therein lies the difference.  However it gets murkier with the disclosure of information requirement, which doesn't really have anything to do with whether the note is legal tender.  Since it would be difficult to "give back" the food once you've eaten it (how's that for a visual), it's probably not legally enforceable to require someone to disclose their personal information if you otherwise would accept cash.

Fri, 03/22/2013 - 15:44 | 3363442 Beam Me Up Scotty
Beam Me Up Scotty's picture

Its not that damn hard to detect counterfit bills either by the way.  This guy must be an idiot.  I happen to be in the restaurant business too, and I have seen a few counterfit bills over the years, and trust me, they are easy to spot if you are paying attention.

Fri, 03/22/2013 - 15:53 | 3363467 akak
akak's picture

Exactly.

And what the fuck is this nonsense about 50s and 100s being "large bills", like it's still the 1960s?  There ARE NO "large" bills anymore, fuckheads --- a $100 dollar bill today has roughly the same purchasing power of a $20 bill in 1975, and I sure don't remember anyone considering or calling $20 bills "large" back then.

Just like these idiotically low daily ATM limits of $300, and the fact that all of them still spit out only $20s, no matter how much one withdraws at a time --- um, it's not 1980 anymore guys, you can up it to $1000 to keep up with inflation, and add some $50s and $100s to the mix!  I am convinced that all this is done as part of the official war on cash, to make it as inconvenient as possible and push everyone into using credit cards that only feeds the TBTF banks with every transaction.

Fri, 03/22/2013 - 15:57 | 3363515 ParkAveFlasher
ParkAveFlasher's picture

"Charge it to the Underhills."

Fri, 03/22/2013 - 16:12 | 3363575 francis_sawyer
francis_sawyer's picture

An instructional tutorial [using the Willem DaFoe method]

~~~

http://www.youtube.com/watch?v=Qvf8aEZerPE

Fri, 03/22/2013 - 18:17 | 3364085 NoDebt
NoDebt's picture

I'll have a steak sandwich and a..... steak sandwich.  And some beluga caviar.  Sir, the caviar is $90 a portion.  Hmmm, I better just have two of those then.  ('Fletch' was one of the most quotable movies of all time, just short of 'Airplane')

Something smells wrong about this story, by the way.  The supposed explanation given by the owner doesn't make sense.  Maybe they'll find the real culprit?  C'mon.  Really?  If they did it unwittingly you think they're going to remember who gave them the note in the first place?  Either way, they'd still be guilty of an actual crime for which the owner CAN demand restitution, regardless of what he says his intentions are.  You're accusing your customers of passing you phony hundreds on purpose and you know it.  Who the hell would put their real info on that stupid form anyway?  BEST CASE they're gonna sell your info so people can spam and junk mail the shit out of you.  "Here's a list of people who pay with hundred dollar bills, so you know they have disposable income."

Fuck that.  I hope some old lady accidentally plows her 94 Buick Roadmasher through the front of the building, confusing the brake with the gas.

 

Fri, 03/22/2013 - 16:00 | 3363528 Beam Me Up Scotty
Beam Me Up Scotty's picture

Spot on Akak.  And the sheep BAAAAA for it.  I paid with cash for a gift for my daughter at Best Buy last christmas and the kid taking my money looked a little confused.  I told him that I liked the anonymity of cash, and that credit cards aren't guaranteed to work all the time if the banking system would fail.  We are really only one Stuxnet virus away from having a total blackout in the use of any credit cards.  He said he didn't usually carry any cash and if he did, he would only carry about $50 tops because he didn't trust himself.  He was worried he might lose it.

BAAAAAA BAAAAAAA BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHH!!

Fri, 03/22/2013 - 16:42 | 3363674 francis_sawyer
francis_sawyer's picture

pimply faced BEST BUY dweeb... Sounds like the perfect candidate to become a bitcoiner... As soon as he masters level 12 of "World of Warcraft"... HE'S IN!

Fri, 03/22/2013 - 16:45 | 3363683 Alea Iactaest
Alea Iactaest's picture

Stuxnet + BitCoin = LMAO

Fri, 03/22/2013 - 16:49 | 3363699 ronaldawg
ronaldawg's picture

Moreover there is no guarantee that your credit card will work EVERYTIME.  What if your credit card gets demagetized (like what happened to me yesterday at the gas station).  I was stuck there with no cash and the fucking machine would not accept the credit card (THAT I USE EVERYDAY until yesterday).  I got the dreaded "See Cashier" - therefore no gas because the credit card I took with me didn't work.  Very embarrassing....

Fri, 03/22/2013 - 16:01 | 3363529 Pairadimes
Pairadimes's picture

If I was an asshole bank teller with an idiot small businessman for a client, this might be one way to augment my meager income as a serf of the banksters. "Yea, these three hunnerts are bad - I have to keep 'em to turn them in."

Fri, 03/22/2013 - 17:00 | 3363734 J in Vegas
J in Vegas's picture

You haven't been to Las Vegas recently as almost all ATM's on strip and off strip in the suburbs give you 20's, 50's, and 100's. 

Fri, 03/22/2013 - 17:38 | 3363951 akak
akak's picture

Wow! 

That is the VERY FIRST time I have heard of any ATMs giving out bills larger than $20.

I bet the daily limit on withdrawals is still nowhere near $1000, though, as it should be.

Fri, 03/22/2013 - 19:02 | 3364232 FeralSerf
FeralSerf's picture

The ATMs in Switzerland commonly spit out 100 franc notes.

Fri, 03/22/2013 - 17:47 | 3363992 natty light
natty light's picture

If they are really good fakes just pass that hot potato on. Problem solved.

Fri, 03/22/2013 - 19:01 | 3364230 TMLutas
TMLutas's picture

One can legitimately invoice without there being a debt? Really? 

I invoice you $50000

Pay up. 

I won't even make you fill out a form. 

Fri, 03/22/2013 - 21:11 | 3364610 StychoKiller
StychoKiller's picture

How do you think the banks are getting away with Fraudclosure?  Read up on UCC (Uniform Commercial Code) Law and see how to deal with bogus invoices.

Fri, 03/22/2013 - 15:41 | 3363425 ziggy59
ziggy59's picture

Arrested on spot. But if you are a Dr. and your patient doesnt pay after services rendered you have to go through legal collections..

Fri, 03/22/2013 - 15:41 | 3363428 akarc
akarc's picture

If they won't take the $100 give em their meal back.

Fri, 03/22/2013 - 15:47 | 3363455 Just Observing
Just Observing's picture

You are correct.  The restaurant extended you credit for your meal ( if it's a typical sit down place, not a McD's ), thus the bill IS a debt.  They can either accept the FRN under the legal tender laws, or cancel the debt.  That is their two choices.

And they would play hell getting me to fill out a fucking form for a cash payment.

Fri, 03/22/2013 - 16:44 | 3363680 francis_sawyer
francis_sawyer's picture

No shit dude... I'd make a fucking SCENE in the middle of the place

~~~

Only trouble is ~ it is indeed a rare occasion that I'd find myself in a restaurant eating overpriced shit food...

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