It’s time to kill the $100 bill

[Koz1]

Originally Posted By: Trav
The man is an full idiot, its bad enough to mess around with hundreds when buying a car or high priced item with cash imagine friggin around with 50's and 20's. They should bring 500 and 1K notes back.


Fully agree!!
Why not ban every note but the 1.00 with that logic then everyone can suffer the same!!

 

[Koz1]

Originally Posted By: Leo99
Originally Posted By: Trav
The man is an full idiot, its bad enough to mess around with hundreds when buying a car or high priced item with cash imagine friggin around with 50's and 20's. They should bring 500 and 1K notes back.


Did you read the article? The whole point is they want to make it more difficult for people to buy large ticket items with cash to dissuade crime.


Yes 1.00s only makes sense then.

 

[ET16]

The Swiss have a 1,000 franc bill (around $1,000). What about that?

 

[javacontour]

I'm sure this will work. Drug dealers and Russian mobs will never think to use the Euro or other currency.

 

[dave1251]

Originally Posted By: silveravant
Originally Posted By: hatt
Originally Posted By: silveravant
When I lived in South Africa the largest note was 10 rand (roughly 10 bucks). Hard to rob a bank, or smuggle money out of the country. The piles of money at the Sun City and Swazi casinos were amazing. People would have many stacks of bills a foot high.
SA's crime rate suggests this tactic isn't very effective.


This was in 1978. Completely different situation.


From 1963 to 1983 South Africa saw a 35% increase in crime including robbery.

 

[69GTX]

No $100 bill means a smaller piece of the drug trade pie. That's a big pie. Summers is the same guy who pushed the strong dollar policy of the mid-1990's and later, which resulted in the dismantling of the banking laws that had been around since the 1930's, and the creation of an unregulated otc derivative's markets. Haven't we had enough fallout from Summers' policies?

 

[dave1251]

Originally Posted By: Leo99
Originally Posted By: Trav
The man is an full idiot, its bad enough to mess around with hundreds when buying a car or high priced item with cash imagine friggin around with 50's and 20's. They should bring 500 and 1K notes back.


Did you read the article? The whole point is they want to make it more difficult for people to buy large ticket items with cash to dissuade crime.


Sounds great. Yet it is against human nature.

 

[demarpaint]

Originally Posted By: Leo99
Originally Posted By: Trav
The man is an full idiot, its bad enough to mess around with hundreds when buying a car or high priced item with cash imagine friggin around with 50's and 20's. They should bring 500 and 1K notes back.


Did you read the article? The whole point is they want to make it more difficult for people to buy large ticket items with cash to dissuade crime.


So they'll use twice as many 50's, do they really think it will matter? I find it very funny, people who commit crimes will continue, and at the same pace. All this will do is make waits longer for honest people at cash registers buying large ticket items with cash.

 

[Kruse]

Meh, I wish they'd bring back the $100,000 bill. I also wish I owned a few of them. (Yes, they did exist)

 

[Garak]

Pot dealers here apparently insist on the $5 bills whenever possible. One can always justify getting rid of something, I guess.

 

[OneEyeJack]

Many merchants along the border with Mexico say that the hundred dollar bill is the currency of trade for illegals coming across the border. Merchants don't like the idea of giving change for hundred dollar bills to make a sale but feel compelled to do it or lose the business.

 

[PandaBear]

Doubt it would make any differences, and if it does they would have switch to coins that are heavy and hard to rob than paper that's light and easily damaged.

Most places don't take >$20 already so $100 and $50 are practically obsoleted in the US.

 

[CT8]

How many people believe the garbage in the mainstream media?

 

[69GTX]

Big retailers still take $100's. I've never had a problem using a $100 bill at Stop and Shop. At larger collectible and antiques shows the $100 bill is still widely used as well.

 

[dparm]

While I don't agree with his opinion, he's certainly entitled to it.

 

[eljefino]

Originally Posted By: PandaBear
Doubt it would make any differences, and if it does they would have switch to coins that are heavy and hard to rob than paper that's light and easily damaged.

Most places don't take >$20 already so $100 and $50 are practically obsoleted in the US.


That's because the drawers only have four slots. If we nuked the penny and made a dollar coin the $50 would have its place.

 

[Mr Nice]

$100 bills are necessary to 'make it rain' in the club on Saturday night.

 

[hatt]

I support axing the $50. I've never liked it. $20 and $100 do what you need. We do need a $500 or preferably a $1000 bill.

 

[dave1251]

Originally Posted By: Garak
Pot dealers here apparently insist on the $5 bills whenever possible. One can always justify getting rid of something, I guess.


Meth dealers prefer $20's around here. The users use lesser domination to play penny slot machines.

 

[DoubleWasp]

I have never heard of a weaker or more ineffective means of fighting crime.

You're going to fight crime by making a criminal's largesse too heavy for him?

Let's make the ignition temperature of Crack inconveniently high to ignite. Then let's cure sex addictions by making pants harder to take off. Let's put all banks at the top of 4 flights of stairs so they are harder to rob.

The only solution to a problem is the solution to the problem.

High level international crime requires organizational and logistical abilities well beyond that necessary to figure out how to move large amounts of paper.

That individual is very ignorant of the fact that small bills are the preferred bills of individuals looking to launder money.

If they really think that Oleg the Child Sex Trafficker is going to shut his operation down tomorrow and start driving a taxi just because his huge financial gains have become a little harder to move around, they're completely insane.

Another feel-good bunch of fluff by an idiot-savant trying to write something "shockingly intelligent".