from: http://www.wired.com/news/politics/0,1283,36190.00.html Click Here: <A HREF="http://www.wired.com/news/politics/0,1283,36190.00.html"> Canada Makes a Grand Escape</A> ----- Canada Makes a Grand Escape Reuters 8:00 a.m. May. 8, 2000 PDT OTTAWA -- The Bank of Canada said Monday it will stop issuing C$1,000 banknotes effective May 12 and will begin to withdraw them from circulation in an attempt to fight organized crime and money laundering. The decision formalizes a proposal made in February by the Finance Department, the central bank, and the Royal Canadian Mounted Police to do away with the bills, coveted by criminals looking for an easy way to transport ill-gotten gains. The pink-hued, bird-depicting banknotes -- dubbed "pinkies" by criminals -- are the largest denomination in the country. With the C$1,000 bills out of circulation, stacks of cash will be at least 10 times heavier and bulkier than before -- because the next largest bill is the C$100. Police have complained that drug-runners and money launderers were using the bills to transport spoils by hiding the cash in small shipments of other goods. The Mounties investigated one drug-running operation in 1997 and found C$8 million in cash hidden in candles being shipped to Britain. About 90 percent of the money was in C$1,000 bills. The bank said the withdrawal of the notes will have little impact on the currency system because the C$1,000 bill is rarely used for cash transactions. "In 1999, for example, there were about 3.8 million C$1,000 notes in circulation, representing less than 0.3 percent of all notes in circulation," the bank said in a statement. The central bank said the bills, which have been around since 1935, will remain legal tender as long as they are in circulation, and individuals are free to hold the notes as long as they want. But no new bills will be printed and commercial banks have been asked to return any bills that are in their possession or deposited by the public. Have a comment on this article? Send it. Printing? Use this version. Related Wired Links: Copyright � 2000 Wired Digital Inc., a Lycos Network site. All rights reserved. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, misdirections and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://home.ease.lsoft.com/archives/CTRL.html <A HREF="http://home.ease.lsoft.com/archives/ctrl.html">Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
