Author Topic: There are more $100 bills in circulation than $1 bills, and it makes no cents  (Read 573 times)

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Offline corbe

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There are more $100 bills in circulation than $1 bills, and it makes no cents

Taylor Telford, Jeanne Whalen
 
40 mins ago

 
A puzzling surge in the number of $100 bills in circulation and the planned demise of the 500-euro bank note have resurrected debate on the need for three-digit currency at all — given their favor with criminals around the globe.

A decade ago, the number of $100 bills lagged well behind $1 and $20 notes. But the tally has doubled since the end of the financial crisis, according to data from the Federal Reserve; by 2017, the $100 note eclipsed the $1 to become the most widely distributed U.S. currency. Output is still climbing, and experts are perplexed.

“It could be driven by a global fear of negative interest rates in Europe and Japan, or it could be a savings vehicle for U.S. households worried about another financial crisis, or it could be driven by more demand from the global underground economy,” Torsten Slok, chief international economist of Deutsche Bank, wrote in a note to investors last week.

The Benjamin Franklin-faced currency has been the largest U.S. bill since the $500, $1,000 and $5,000 were axed in 1969, but it’s not very popular for day-to-day transactions. The average American carries about $60 in cash, according to a 2017 study from the Federal Reserve Bank of Atlanta. A December study from Pew Research Center found that about 30 percent of Americans use no cash at all on a weekly basis, suggesting that, in the digital age, cash is going out of style altogether.

<..snip..>

http://www.msn.com/en-us/money/markets/there-are-more-dollar100-bills-in-circulation-than-dollar1-bills-and-it-makes-no-cents/ar-BBUncpu?ocid=ientp
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Online Bigun

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Elections coming soon and the dems need those $100 bills for trailer park trolling!

Offline catfish1957

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There are more $100 bills in circulation than $1 bills, and it makes no cents



Makes sense to me.....

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Offline Sanguine

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Elections coming soon and the dems need those $100 bills for trailer park trolling!

I thought they used $10 bills?
Cui bono?

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Online jmyrlefuller

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It's like these cretins have never heard of inflation...

Offline Sanguine

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It's like these cretins have never heard of inflation...

Cretins?  I thought much of the bills were being held internationally as a hedge against instability.  Sounds pretty smart.
Cui bono?

Walk in Wisdom
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Offline andy58-in-nh

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The drug trade and money-laundering have also increased the velocity with which $100 are circulated.   
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Online jmyrlefuller

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Cretins?  I thought much of the bills were being held internationally as a hedge against instability.  Sounds pretty smart.
I was talking about the handwringers who wrote this article.

Offline Sanguine

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I was talking about the handwringers who wrote this article.

Ah.  Got it. 
Cui bono?

Walk in Wisdom
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Offline Cyber Liberty

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The singles I get are beaten to crap.  The Bureau of Engraving and Printing is not replacing them like they should.

I think the DeeCee controllers are trying to force us into using dollar coins again.  No.  I lost every one I ever had by accidentally using them as quarters.
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Online jmyrlefuller

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The singles I get are beaten to crap.  The Bureau of Engraving and Printing is not replacing them like they should.

I think the DeeCee controllers are trying to force us into using dollar coins again.  No.  I lost every one I ever had by accidentally using them as quarters.
Forget dollar coins. The feds would love to be able to trace as many transactions as they can by going cashless.

Offline Cyber Liberty

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Forget dollar coins. The feds would love to be able to trace as many transactions as they can by going cashless.

Theere's that.  As long as there's a Black Market for anything, there will always be media of exchange.
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Offline Drago

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"Puzzling..."  Not at all, the $100. bill is the new $20...twenty bucks doesn't go very far anymore. They need to start printing $500. & $1000. notes again to keep up with inflation...but since the Feds would like to go "cashless" I doubt that will happen.


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