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The amount of $100 bills in circulation is surging. And it's leaving some economists scratching their heads.
The number of outstanding U.S. $100 bills has doubled since the financial crisis, with more than 12 billion of them across the world, according to the latest data from the Federal Reserve. C-notes have passed $1 bills in circulation, Deutsche Bank chief international economist Torsten Slok said in a note to clients this week.
[...] "By eliminating high denomination, high value notes we would make life harder for those pursuing tax evasion, financial crime, terrorist finance and corruption," [former Standard Chartered bank chief executive Peter] Sands wrote.
The global illicit money flows were "staggering" and fuel crimes from drug trafficking and human smuggling to theft and fraud, Sands said. He estimated that depending on the country, tax evasion robs the public sector of anywhere between 6 percent and 70 percent of what authorities estimate they should be collecting. And despite "huge investments in transaction surveillance systems, and intelligence, less than 1 percent of illicit financial flows are seized.
[...] "The Federal Reserve and Treasury make 99 dollars for every $100 dollar bill they print and sell offshore," Colas said. "There's a natural desire to keep printing these things — the U.S. government makes a lot of money selling them."
Superbills?
https://en.m.wikipedia.org/wiki/Superdollar
(Score: 2) by dry on Saturday March 02 2019, @06:35AM (4 children)
Judging by the number of Americans in jail and the number the police kill, your weapons aren't helping all that much. At that it seems like an arms race that the cops are winning.
(Score: 0) by Anonymous Coward on Saturday March 02 2019, @12:27PM (1 child)
Oh Americans do use all those guns -- to regularly mow down school children.
But hey, less Americans, win-win.
(Score: 2) by Phoenix666 on Saturday March 02 2019, @03:33PM
And what makes you think all that isn't according to plan, to breed the survivors into an army of super-soldiers to better oppress everyone else's children in the future? China makes its school kids learn how to march in formation, America uses a brutal, Darwinian "surprise drill!" approach.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Saturday March 02 2019, @08:48PM (1 child)
that's just because they are winning the propaganda war so most of the people with the guns still think the cops/govebbermint are working for the people. lack of firepower is not the problem, i assure you.
(Score: 2) by dry on Saturday March 02 2019, @08:55PM
A good chunk of the population seems to support the cops no matter what they do and would be standing along side the cops if the other good chunk tried to use their arms to correct things.