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)
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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.
9pm EST Explosions in Iran (Isfahan) and Syria and Iraq. Not yet confirmed.