The Unwanted bill: Has the C-Note lost its currency?

By Simon Cooper
 

Reprinted from The Globe and Mail, Page F7, Saturday, May 4th, 2002
www.globeandmail.com

 

Have you tried to use a $100 bill lately? It’s not easy. Our most valuable note has become such a target for counterfeiters that retailers have made it virtually unspendable.

 

Go to a corner store anywhere across the country and you’ll probably see a sign declaring that “$100 bills are not accepted here.” The owners feel they have no choice because if they accept a bogus bill, they’re stuck with it. The Bank of Canada has a policy of refusing to compensate businesses lumbered with duds, something it says would just ‘encourage falsification.’

 

If that’s the case, perhaps the Bank of Canada should just get rid of the bill the same way it stopped printing the $1000 note two years ago, partly because of counterfeiting and partly because it was so handy for money launderers.

 

With the rise of debit and credit cards, you would think that nobody really needs to use cash in large denominations anyway. And yet the central bank says it has never had so many $100 bills in circulation – 160 million of them last year, a 27% increase since 1998.

 

The problem is that so many of the brown bills bearing the image of  Sir Robert Borden (prime minister from 1911 to 1920) are bogus.

 

The fakes began to appear en masse in Ontario in the spring of 2000, most of them because of the ingenuity of one Wesley Weber, a 27 year old resident of Windsor, Ont., who along with Anthony Caporale, 24, Dustin Kossom, 21, and Ryan Hodare, 23, turned a lakeshore cottage into a private mint.

 

They churned out about 40,000 fakes using a computer scanner and an inkjet printer. When the RCMP raided the palace last July, they found 2,200 notes waiting to go into circulation.

 

Weber is now serving 5 ½ years (the maximum pernalty is 14 years), but putting him in jail didn’t take his handiwork out of circulation. RCMP figures show that the number of duds of all denominations jumped 29.1 per cent last year – 136,212 compared with 105,440 in 2000 – and two months ago new counterfeit hundreds surfaced in Newfoundland that police call ‘the best we’ve seen.’

 

Even so, the Bank of Canada insists that things are back to normal. “The situation is under control. Counterfeiting is a fact of life and something we just have to deal with,” says Denis Abbott, the bank’s assistant director of currency education.

 

The Bank of Canada has no intention of getting rid of the $100 bill. In fact, it has been sending out special squads of “currency educators” to ask that stores stop refusing the bills in return for special training in how to spot a fake.

 

But the store owners will be a tough sell.

 

“Most retailer business is cash, and most retailers work on small margins. So if you get a couple of fake hundreds in a day and you can’t get compensation for that, it’s a double whammy because it’s not only your profit gone, but also the merchandise bought with the fake,” says Diane Brisebois, president of the Retail Council of Canada.

 

“Therefore,  ultimately, the only way a retailer can protect themselves from forgeries is to not accept $100 bills at all.”

 

But the consumer may not be the bank’s main consideration. To government, larger denominations make more sense, says economist Bernie Wolf of York University’s Schulich School of Business. “To put $100 worth of money in someone’s wallet in, say twenties, the government has to print five separate notes as opposed to just one note for the $100 bill. And in business transactions, the more notes you have to count, the higher the cost of that transaction.

 

And what about all those millions in suspended animations? That, Wolf says, is good business sense for the government as well. By sitting on its “seigniorage” – the profit it made from the original sale of those notes - it avoids the cost of replacing the bills when they wear out.

 

“However,” Wolf points out, “this is a dwindling cash economy. We need far less cash than we did 10 years ago, and as we seem to be doing very well without the $100, it is sensible to conclude that having the $50 as the highest denomination would serve us just as well.”

 

The power to withdraw a note from circulation ultimately lies with the federal Finance Minister, acting on advice from David Dodge, governor of the central bank. (our monetary history is littered with defunct denominations, ranging from a 25-cent note issued in 1869 while we waited for a shipment of coins from England, as well as $3, $6 and even $7 notes.)

 

The process is long and involved Abbott says. “There would be a huge amount of consolidation before any decision on the viability or otherwise of a note could be made – it would go before committees here at the bank, there would be focus groups, phone polling, meetings with businesses consumers.”

 

So, given all the strikes against it, will the hundred soon be as useless as the $3 bill? Not likely, Abbott says. In fact, next year could see the introduction of a new $100 bill, complete with a whole new armoury of tough security features, including raised ink on certain parts of the bill, three iridescent Maple leaves that change colour as the note is titled and a “hidden 100,” which appears only if the note is held at an angle at eye level.

 

 

Comments By Tommy-Usury: Free

 

In the article, ‘The Unwanted Bill – Has The C-Note Lost Its Currency?’  - By Simon Cooper, Page F7, The Globe and Mail, Saturday, May 4th, 2002 he wants us to believe that the C-Note has become a target for counterfeiters.

 

Why are we-the-people being conditioned to believe that the C-Note is virtually unspendable/ Why are we-the-people seeing signs at the check-out counters of the majority of retail stores declaring ‘$100 bills are not accepted here.’

 

Of course, as usual the retailers willingly assume the role as the ‘enforcers’ because the Bank Of Canada in co-operation with the Canadian Federal Government conjure up a policy whereby businesses will not be compensated if they are ‘lumbered with duds.’ Of course, the Usury Elites say that ‘to offer compensation’ is ‘to encourage falsification.’ Really !!

 

Simon Cooper writes “perhaps the Bank of Canada should just get rid of the bill the same way it stopped printing the $1000 note two years ago, partly because of counterfeiting and partly because it was so handy for money launderers.”

 

Consider that you are strategically positioned in power at the apex of the pyramid of the Usury Elites and your mission is to eliminate cash and condition we-the-people to accept ‘the cashless society’ and ‘your chip’ – what would you do?

 

If you were very bright and a respected leader of the Usury Elites – you would (1) eliminate the $1000 bill (2) eliminate the $100 bill (c) eliminate the $50 bill and eventually the masses will beg for the ‘chip’ because it is so cumbersome carrying around pockets full of $20, $10 and $5 bills.

 

How would you do this in the most effective way? Why not set up a professional counterfeit ring with an ingenious Wesley Weber as the patsy or fall guy? Nothing new eh? Have his little clandestine operation churn out tens of thousands of counterfeit $100 bills and label them ‘the best we’ve ever seen.’

 

This will instil ‘fear’ into the minds of the ‘retailers’ and the ‘customers’ who are both desperate to survive in this vicious but failing usury-based, orthodox economy which is designed to breed and foster scarcity and lack. You might even be motivated to have the Bank of Canada with the support of the Police insist that things are under control because the stores are refusing to accept them and ‘currency educators’ are busy teaching the retailers how to spot a ‘fake.’

 

To make your point with more emphasis assure the consumers that the government deems larger denominations as more economical for a whole list of reasons. Assure we-the-people that the process to withdraw the C-Note would be long and involved.

Then have Denis Abbot, the Bank’s Assistant Director of Currency Education suggest that next year ‘we could see a new $100 bill, complete with a whole new armoury of tough security features including raised ink on certain parts of the bill, three iridescent Maple leaves that change colour as the note is tilted and a ‘hidden 100,’ which appears only if the note is held at an angle at eye level.’

 

One wonders if Tex Marre’s information about a ‘multi-coloured’ currency is on target.

 www.texemarrs.com/092000/currency.htm

 

In any case, it is timely indeed that we find a story in a Seattle newspaper on April 27th, 2002 – just a coincidence, nothing to worry about J Just another step for Big Brother towards 666  -  the latest way to pay is at our fingertips

 

______________________________________________________________________

 The latest way to pay is at our fingertips
http://seattlepi.nwsource.com/local/68217_thumb27.shtml

Saturday, April 27, 2002

By JANE HADLEY
SEATTLE POST-INTELLIGENCER CONSUMER AFFAIRS REPORTER

Shoppers headed for the West Seattle Thriftway Wednesday can leave their credit cards, debit cards and checks at home. They just need to make sure to bring their index fingers.

The supermarket will be the first in Washington and one of the first in the nation to use a biometrics system -- finger scanning -- to tie consumers to their credit cards, electronic benefit cards and checking accounts, says the maker of the system, Indivos of Oakland, Calif.

"The main thing is, it's fast, it's easy, and it's secure," says Paul Kapioski, West Seattle Thriftway owner.

Consumers enroll in the system by putting their index finger on an image reader, which runs digital information for 13 points on the finger through a formula, and stores the encrypted information on Indivos servers. Consumers register whichever cards or accounts they want associated with their finger scan.

"It takes about one minute to enroll," Kapioski said. Enrollment begins Wednesday and is strictly voluntary, he emphasized. Wary customers still will be able to pay the old-fashioned way if they want.

Once enrolled, consumers won't need to hassle with their wallets or purses. Instead, they'll just pass their fingers over the image reader.

For those whose payment is tied to their checking account or debit card, that's it. Customers who want their credit card billed still will have to sign a receipt.

The main advantage of the new system, Kapioski said, is the security. People no longer have to worry that their cards will be lost or stolen and then used to run up hefty charges. Stores and credit card issuers will likewise avoid the losses associated with identity theft.

"If we can come up with a payment method where there's no opportunity for fraud, then the fees come down," Kapioski said.

He first saw the Indivos system at a technology show in San Diego in January and expressed interest to Doug Mills of Associated Grocers. Mills agreed that Kapioski's store, at Southwest Morgan Street and California Avenue Southwest, could be the first Thriftway to try it.

Employees underwent 15 or 20 minutes of training in the system this week.

"They're excited about it," Kapioski said.

Kapioski said he's put about four months into studying the system to remove any doubts, and he claims "it's foolproof."

If other stores adopt the Indivos system, consumers would not need to re-enroll, because their finger scans and accounts would already be in Indivos' servers, said Jim Nickerson, a company spokesman.

McDonald's has done a limited pilot of the system in California.

"They love it because it takes the cash out of the hands of 18-year-old clerks," Nickerson said.

Nickerson expects a flurry of announcements in coming weeks of major chains adopting the system. Indivos' main competitor, Biometric Access Corp. of Round Rock, Texas, rolled out a pilot test of its biometric system in some Kroger grocery stores in Texas about two weeks ago.

Indivos has sued Biometric Access for patent infringement.

Kapioski said his store will not have to pay for installing the image readers, but will pay a per-transaction fee to Indivos.

Because Indivos makes its money per transaction, it is focused on getting its system into stores that have many small transactions, Nickerson said. [Note: the attribution in this sentence was incorrect in the original version of this story.]

"They say they don't own Manhattan," he said. "They own the bridges to Manhattan."

 P-I reporter Jane Hadley can be reached at 206-448-8362 or janehadley@seattlepi.com

 

 Now read Wally Dove’s email – another timely coincidence …

 __________________________________________________________________

----- Original Message -----

From: Wally Dove

Sent: Sunday, April 28, 2002 10:43 PM

Subject: VeriChip's National Rollout Begins

 

Hi Folks,

 

Well, another prediction has come true. They are starting to "chip" us, and it looks like people are lining up to take the implantable computer chip.

 

This has to be the "Mark of the Beast" that is prophesied in Revelations. Once we take this chip, they will eventually know all there is to know about us, by simply scanning us. Additionally, they will be able to track us anywhere on earth. How about, we will not be able to buy or sell without it. This is coming for certain.

 

The thing is folks, if we do not fight back now, it will eventually be too late.

 

I would urge you to get in our database. We are building a database of people who are educated in the truth about what is happening and are willing to become part of a movement to take back our freedom and our country. We do not want the One World Government (Dictatorship), it spells slavery no matter how it is spelled.

 

Regards,

Wally Dove

_______________________________________________________________________

 

 Monday April 22, 827 am Eastern Time
 
Press Release
 
SOURCE Applied Digital Solutions
 
VeriChip's National Rollout Begins in Palm Beach County, Florida
 
Jacobs Family to ``Get Chipped'' May 10, 2002
 
Local hospitals and physicians to participate in initial rollout of VeriChip(TM) and the GVS Registry
 
PALM BEACH, Fla.--(BUSINESS WIRE)--April 22, 2002-- Sales and registration of VeriChip to begin May 13, 2002

Applied Digital Solutions, Inc.  (Nasdaq ADSX - news), an advanced technology development company, announced today that the Jacobs family will be the first in the world to ``get chipped''(TM) with VeriChip's personal verification microchip.

The historic ``chipping'' procedure will take place in the first Authorized VeriChip Center in Palm Beach County, Florida, on May 10, 2002.

VeriChip is a miniaturized, implantable, radio frequency identification device (RFID) that can be used in a variety of security, emergency and healthcare applications.  On April 4, 2002, the company announced that it had received written guidance that the U.S.  Food and Drug Administration (FDA) does not consider VeriChip's personal verification device to be a regulated medical device, enabling the company to begin sales,  marketing  and distribution of VeriChip in the United States.  The company believes its first-mover advantage will enable it to gain significant market share in the emergency information and verification market that is estimated to exceed $15 billion.


Each VeriChip is composed of FDA-accepted materials and contains a unique  verification number that can seamlessly integrate to the Global VeriChip Subscriber (GVS) Registry.  This Registry program will enable VeriChip subscribers to store pertinent personal verification and healthcare information in the company's secure database.  The GVS Registry is hosted and maintained by Digital Angel Corporation's (Amex DOC - news) state-of-the-art, FDA-compliant operations center in Owings, Maryland.

Information provided by the subscriber will be stored in the GVS Registry database.  Only information authorized by the subscriber will be available for access via VeriChip's proprietary scanner.  Instant access to such vital information as allergies to medications, medical device implants, pre-existing medical conditions and emergency contact numbers could save lives in an emergency and enhance the peace of mind of subscribers and their loved ones.

VeriChip System Affiliates such as hospitals, healthcare clinics, search and rescue units, and EMTs will be able to use proprietary VeriChip scanners to read a subscriber's VeriChip and gain access to the subscriber's Registry information if authorized to do so by the subscriber.

Scott R.  Silverman, President of Applied Digital Solutions, first announced the May 10, 2002, event during a recent interview on MSNBC and said ``On May 10th we'll make history with the first-ever `chipping' procedure and the launch of VeriChip and the GVS Registry into the U.S.  market.  We're delighted that we've been able to bring VeriChip's  life-enhancing technology to market in record time.  We announced VeriChip less than six months ago and now we're about to launch the product into the U.S.  market.''

Silverman continued  “We're very pleased with the excellent cooperation and excitement we've received from the healthcare community in Palm Beach County.  The active involvement of VeriChip System Affiliates like hospitals and EMS units who will use VeriChip proprietary scanners and link into the GVS Registry is critical.  In addition, we've identified a well-respected medical practice in Palm Beach County to become the first Authorized VeriChip Center.   In conjunction with this Center, we're launching the first ChipMobile(TM) - a state of the art, medically equipped mobile unit that will deliver VeriChip to initial target markets such as elder care centers, critical care facilities and Generation Y events. This initial rollout in Palm Beach County will last until June 30, 2002, at which time we will explore other geographic market opportunities and nationwide distributor alliance programs.''

The historic chipping procedure on May 10th will be followed by a press conference and an invitation-only brunch for business partners and community leaders.  During the press conference and the business brunch, Applied Digital executives will unveil more details about VeriChip's rollout plans.

About VeriChip(TM)
 
VeriChip, first announced on December 19, 2001, is a miniaturized, implantable, radio frequency identification device (RFID) that can be used in a variety of security, emergency and healthcare applications.  On April 4, 2002, the company announced that it had received written guidance that the U.S.  Food and Drug Administration (FDA) does not consider VeriChip's personal verification device to be a regulated medical device, enabling the company to begin sales, marketing and distribution of VeriChip in the United States.
 
About the size of a grain of rice, each VeriChip is composed of FDA-accepted materials and contains a unique verification number. That number is captured by briefly passing a proprietary, external scanner over the VeriChip.  A small amount of radio frequency energy passes through the skin energizing the dormant VeriChip, which then emits a radio frequency signal transmitting the verification number.  VeriChip Corpor ation is a wholly owned subsidiary of Applied Digital Solutions.

About Digital Angel Corporation Digital Angel Corporation (Amex DOC - news) was formed on March 27, 2002, in a merger between Digital Angel Corporation and Medical Advisory Systems, a global leader in telemedicine that has operated a 24/7, physician-staffed call center in Owings, Maryland, for two decades.  Prior to the merger, Digital Angel Corporation was a wholly owned subsidiary of Applied Digital Solutions.  Digital Angel (TM) technology represents the first-ever combination of advanced biosensors and Web-enabled wireless telecommunications linked to the Global Positioning System (GPS).
 
By utilizing advanced biosensor capabilities, Digital Angel will be able to monitor key body functions - such as temperature and pulse - and transmit that data, along with accurate emergency location information , to a ground station or monitoring facility.  For more information about Digital Angel, visit www.digitalangel.net.
 
About Applied Digital Solutions
 
Applied Digital Solutions (Nasdaq ADSX - news) is an advanced technology development company that focuses on a range of early warning alert, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them.  Through its Advanced Technology Group, the company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers.  For more information, visit the company's website at   http//www.adsx.com

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are ``forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995.  Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results.  The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

 

“When the people lead, the leaders will follow' and leading does not mean emulating the present leaders.” Bill Ellis 

 

"We will go into the future as a single sacred community, or we will all perish in the desert" Thomas Berry

 

 

You are invited to visit The UsuryFree Time Currency Cyberclassroom www.cyberclass.net/ufoh.htm to ‘re-educate’ yourself on importance of creating and using your own ‘usuryfree’ time currency immediately.

 

If you have any questions about how to start in your local community email me or call me at: 1.613.746.9702

 

Tommy-Usury: Free
Email: tom@cyberclass.net

Website: www.cyberclass.net