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Printing record amount in $100 Bills fuels Drug, Illicit Arms Trade and Tax Cheats
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[quote:Anonymous Coward 24210762:MV8yMDcwNzkxXzM0ODQ5MzAzXzNENzZBODNG] Digital currency propaganda.... .. and when the digital currency is here, there will still be drugs, illegal arms, etc. [/quote]
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There always seems to be a consequence to things.
[
link to blogs.marketwatch.com
]
The U.S. government printed 3 billion $100 bills in the 12 months ended Oct. 31, according to a Tuesday note from Nicholas Colas, ConvergEx Group chief market strategist.
That’s 100% more than the average production of $100 bills over the past 5 years
, and 50% more C-notes than $1 bills printed in the same period, according to Colas.
Hard cash holds a special place in global finance as the preferred mechanism for drug, illegal arms and tax evasion transactions, Colas notes and $100 bills are the preferred denomination. While the use of smaller denomination bills has fallen in recent years with increased use of credit and debit cards, demand for $100 bills appears to be growing.
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