GOP Bill Would Put Trump’s Portrait On $500 Bill

June 17, 2024 Republicans, Trump cultists

Via press release from far-right GOP Rep. Paul Gosar:

Congressman Paul A. Gosar, D.D.S. (AZ-09), issued the following statement after introducing H.R. 8620, the Treasury Reserve Unveiling Memorable Portrait (TRUMP) Act, legislation requiring the Secretary of the United States Treasury to print $500 Federal Reserve notes featuring a portrait of the 45th President of the United States, Donald J. Trump.

“As Bidenflation continues to devalue our currency, the issuance of $500 bills featuring President Trump by the Treasury offers several practical advantages. First, larger-value currency will empower Americans with the freedom of more tangible options to save and exchange goods and services.

“Additionally, the absence of large-denomination currency issued by the Treasury encourages Americans to rely on digital banking, which faces greater vulnerability to surveillance and censorship.

“Furthermore, from a collector’s perspective, these $500 Trump bills will become highly sought after, generating revenue for the government through increased demand for numismatic items. Collectors often covet currency with unique designs and historical significance and bills featuring the very popular 45th President will attract considerable attention from collectors.

“This will no doubt create a market for the $500 Trump bills far beyond their face value and increase the seigniorage earnings of the government, thus increasing overall revenues.”

Fox Business reports: 

The last version of a $500 bill featured a portrait of President William McKinley and was printed in 1945. The denomination was discontinued 24 years later, according to the Bureau of Engraving and Printing.

Historically, U.S. currencies in higher denominations than $100 were used by banking institutions for large money transactions, but by 1969 technology had outpaced the need for large bills.

The largest U.S. dollar denomination ever printed was the $100,000 Gold Certificate, which featured a portrait of President Woodrow Wilson, who created the Federal Reserve in 1917.

Note: Gosar’s bill is dated June 5. My apologies for missing it at the time.



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