Benjamins Are Safe (For And From Cybercriminals)

Because they're too much of a headache to ax.
Author:
Updated:
Original:
Not going anywhere.

Not going anywhere. via Wikimedia Commons

Last month, the European Central Bank announced that it would stop printing €500 notes, because the only people who use them are criminals and terrorists. One of the guys who came up with that idea, former Standard Chartered CEO and current Harvard thinker Peter Sands, thinks it’d be nice if the U.S. one-upped Frankfurt and got rid of the C-note. But before you start to write a musical to save Ben Franklin from currency oblivion, fear not: The $100 bill isn’t going anywhere. It would just be too big a pain in the ass.

There are 11.1 billion $100 bills in circulation, and about 75% of them are held in other countries, in part because the U.S. dollar is the dominant international reserve currency. Retiring it would have a ripple effect beyond the borders of the U.S….

Replacing the bill would be expensive. It costs 14.3 cents to produce a $100 bill. The next largest denomination, the $50 bill, costs 10.6 cents, but twice as many would have to be printed, at a higher cost overall….

Regular Americans use $100 bills. Some automated-teller machines even dispense them.

End the $100 Bill? Uncle Sam Says No [WSJ]

Related

AIG Making Crowdfunding Safe For Cowards

"Crowdfunding insurance" is a thing now.

MickMulvaney

Mick Mulvaney Issues New Sackcloth And Ash Uniforms For CFPB

Trump’s man doesn’t want consumer protectors getting too uppity.

Taking his country back. fir0002 | flagstaffotos.com.au [GFDL 1.2], via Wikimedia Commons

Crispin Odey’s Chickens Safe From Foreigners, Lower Standard Of Living

The hedge fund manager has declared himself (and his fowl friends) "the winner" of the Brexit.

blogpost

Bubbles Are Getting Bubblier For Those Who Can't Distinguish Between Absolute And Relative

BAML compares bitcoin and XIV to the housing bubble and China because who cares anymore?