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Surprise - a central banker[1] wants to have more control over how people use our currency. Summers seems to be discounting the value of large denomination bill
by cmsmith 11y ago
Surprise - a central banker[1] wants to have more control over how people use our currency. Summers seems to be discounting the value of large denomination bills as a savings vehicle for ordinary citizens in countries with weak currencies. In addition to improving the life of your average (e.g.) Venezuelan, keeping the US Government associated with financial stability seems to be a cheap and effective way to promote pro-Americanism. My guess would be that the positive value of $100s far outweighs the value of inconveniencing criminals, but if it's the other way around then the proposal might be worth considering.
[1] Basically