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.
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: