Why hasn’t the government released bills bigger than $100, considering the various products nowadays that go above $1000? What kind of changes will we see and what kind of impact would it have?
Edit: By government, I mean US Government. thanks for pointing the ambiguity out!
In: Economics
The reason why the US stopped issuing $1000+ bills or bankers notes is because 1: finance has largely gone digital, and 2: the people needing large amounts of physical money are criminals.
My grandparents had $1000 bills they gave each other as a novelty for Christmas. That’s the only reason most Americans would use them.
Nowadays, if an American is traveling with a few thousand dollars in cash, and pulled over by the police, the police will just steal the money and add it to their budget thanks to anti-drug dealer laws called civil asset forfeiture (lookup relevant Last Week Tonight video online). It’s basically become illegal for Americans to possess large amounts of American currency
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