Abolishing the $100 Bill?
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Jean $�ott
http://queenofcomps.com/
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Abolishing the $100 Bill?
Jean says in the blog:
However, I am willing to make some sacrifices if it would
indeed make a major problem for criminals and terrorists.
I couldn't disagree more.
Removing the $100 bill from circulation (which would be impossible
anyways) would not change the risks of terrorism or crime one bit.
Meanwhile, it would make life more difficult for many people.
Gamblers bemoan the fact that the W-2G amount ($1200) hasn't been
adjusted for inflation. But the $100 bill is worth about what the $20
bill was worth when they introduced the W-2G.
Meanwhile, the casinos will never go for it. Between bill acceptors
and TITO redemption machines, they love not only the reduction of
manpower they need, but the fact that someone can buy in and cash out
at will most likely results in more action. Having to jump through
hoops would only decrease the impulse gambling.
You want to see the effect of the War on Drugs(TM) and more recently,
The War on Terrorism(TM)? Get $20,000 in $100 bills and drive around
the country. Get stopped by the Highway Patrol, and when they ask you
if you mind if they search your car, answer yes. If they find your
cash, you can kiss it goodbye. They'll seize it and you'll never see
it again. This despite the fact that you won't be arrested or
anything. Forget about due process, it's obviously the result of drug
activity. You can point out the fact that it says right on it that
it's legal tender, but that won't help.
If you think the mere fact $100 bills are in circulation is risky,
tell me why there are 500 Euro notes. Europe isn't a smoking crater.
They must not be all that dangerous.
I think if Europe can stomach the (negligible, at most) risk, the
United States can, too.
On Sat, Mar 8, 2008 at 5:01 PM, vpFae <vpFae@cox.net> wrote: