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Scrap the $100 bill and make life tougher for criminals, Larry Summers says
- grej 11y agoI find this trend very disturbing. In Norway the largest bank has called for the outlawing of cash writ large. There have been similar statements by other bankers here in the US. This all serves to give banks more control. Ability to impose negative interest rates without individuals hoarding cash, ability to greatly lower the risk of bank runs, etc. But for the consumer and for privacy rights its a dangerous direction.
- aurizon 11y agoMake them stronger, use only coinage....;)
- cafard 11y agoFine by me, if Larry Summers agrees to convert his liquid holdings into nickels, and never henceforth pay with anything but.