“A 2018 research paper from the Federal Reserve Bank of Chicago estimates that 60 percent of all U.S. bills and almost 80 percent of all $100 bills are now overseas.” https://t.co/IabX4f2wdl interest free loans to Uncle Sam
I delivered pizza for 10 years. Still never heard a good explanation for carrying them and not paying with card. The easy go-to is drug dealing, but I can’t even withdraw a 100 without going into a bank and specifically asking for it. I still can’t describe a single coherent theory. I’ve been told it’s so rich people can fit the money in their wallet. Maybe 40 years ago that made sense, not today.
Most likely forgeries inflating the bills in circulation. Peru suspected the US$100 bill in 2005 due to the flood of near-perfect forgeries in circulation. Ecuador, which had dollarised its currency, suffered a similar onslaught.
If you take 400 out in Germany, you will get 3x100 bills and the rest in the smaller denomination bills. Banks treat you like children and potential criminals in the US. Its annoying to go to the ATM and have to carry a wad of 20's. I'm a big boy, I can carry $100 bills.
Replace the batteries in your BS detector! So just WHEN did 'in circulation' statistics start to imply that paper money is being wielded for nefarious purposes? Why are retiring mattress-hoarding baby-boomers excluded from mention? If the past decade has seen a surge in issuance of $100 bills, does that mean we've identified the US Treasury Department as the source of corruption? Why is someone trying to pass off a 10 year moving average as a surge'n'skyrocket? Holding of large denominations of paper money is also an indicator of paranoia about the economy. Is that now a corrupt practice? Delving into previously hoarded money and spending it is a sign of optimism about the economy. Is that now a corrupt practice? And WHO would like you to think so? In the end, is pocket money people spend for illegal drugs 'corruption' or is it just 'commerce'?
Corruption has always carried a connotation of subversion, oppression and coercion. Everyone is fixing on the few celebrated cases of cash by the ton (Iraq, Iran etc) but over a decade even those are small blips. If anyone tries to tie cash to corruption you must ridicule and lambast them publicly. Or the friendly officers who now tell you to empty your pockets because your taillight is broken and confiscate the $10,000 cash you were bringing to the flea market... will be seizing everything over $100 (One Franklin) tomorrow.
Middle East War, we printed trillions of dollars for it, sent them over by the cargo plane load. If China had not had such a good time in manufacturing in the last 20 years there would have been a reckoning, it may come soon, when they want the value of their fake credits back, we'll see. I'd love to see a mathematician and an economist go head to head on this and figure it out. #fiatisnotjustanitaliancar
I read a thing about how retiring the $100 would make alot of cartel and corruption issues more difficult. As in twice as heavy. If we ditched the $50 too, that would make money 5 times as heavy/bulky.
Are there any good reasons for keeping the $100 or the $50?
This makes complete sense and we are missing some metrics.
First off, the day of the bail out we doubled the money supply. Yes, doubled. Effective inflation rate of 100%, but that's a different story all together.
So, my question is, do we have more bills than are being printed by the federal reserve (or whoever actually does the printing) because, subsequently with QE we've added considerably more currency to the money supply, so yes the number of hundred dollar bills should also be growing proportionately.
For anybody else wondering why that specific bill was 'a go-to for criminals': Turns out the 100 is literally the highest-value USD bill in use since due to the typical financial situation of USD users, higher values wouldn't have any realistic use cases and flat-out aren't printed anymore.
The number of people in here who dont understand that other countries around the world "back" their currency's using USD is absurd. Please go learn about our current "dollar standard" keynesian economics.
if you'd like a quick history lesson of the previous systems we used before the current lmk and ill dig through my post history and reply to you with it.
This is the beginning of hyperinflation coming to the US. Buy gold and silver while you can. All the USD around all over the world that we sent to buy their goods/products/raw materials are making there way back home to nest. Inflation will rise as will prices and everyone will be fucked as purchasing power falls.