https://www.wsj.com/articles/for-russia ... 1652125119For years, Russians’ bill of preference has been the $100. As of 2019, more than 661,500 pounds of $100 bills were in Russia—many of them stashed in lumpy mattresses and home-sewn money belts. That’s $31.5 billion.
Messing with the $100 note at all causes panic in Russia. Millions of Russians were alarmed in 1996 when Washington redesigned the $100 bill to be less easily counterfeited.
End the $100 Bill to Pressure Russia? (WSJ)
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End the $100 Bill to Pressure Russia? (WSJ)
Re: End the $100 Bill to Pressure Russia? (WSJ)
Inflation seems to be doing that job pretty well.dualstow wrote: ↑Mon May 09, 2022 6:50 pmhttps://www.wsj.com/articles/for-russia ... 1652125119For years, Russians’ bill of preference has been the $100. As of 2019, more than 661,500 pounds of $100 bills were in Russia—many of them stashed in lumpy mattresses and home-sewn money belts. That’s $31.5 billion.
Messing with the $100 note at all causes panic in Russia. Millions of Russians were alarmed in 1996 when Washington redesigned the $100 bill to be less easily counterfeited.
Shouldn't we have a $500 bill by now?
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Re: End the $100 Bill to Pressure Russia? (WSJ)
Yes, but it should be a coin!
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Re: End the $100 Bill to Pressure Russia? (WSJ)
Exactly. Worth a bit less right now, but it's certainly what was on my mind.
what a world it would be if we could exchange these coins on a daily basis, and buy & sell them in a frictionless way, ie very near spot.
Back on topic: It was suggested in the comments under the article that too many people outside would suffer if $100 bills were declared worthless. But, I think they missed the point that most of the rest of the world would be able to trade them in. Cartels probably wouldn’t like it very much.