Time to Kill the $100 Bill?

I just read the article in the Wall Street Journal and the Washington Post that there is talk about killing the $100 Bill. This supposedly to avoid taxes and illegal activity. I'm wondering what the gambling world thinks of it. I've been getting lines of credit lately, but I still like to have Benjamins and walk up to a VP machine. What are your thoughts? Article below.

https://www.washingtonpost.com/news/wonk/wp/2016/02/16/its-time-to-kill-the-100-bill/

I'm not sure ion this is considered a political post, though it's not intended to be.

 

Kill the $100? Geez, my husband has been complaining for years that we don't have a $500 bill......

 

If you read the article, you will realize it was just an idea. Not gonna happen.

 

This is a stupid suggestion. So drug dealers and career criminals will have to carry $5,000 in the form of 100 $50 banknotes instead of 50 $100 banknotes. Big deal. Is that going to stop them or make them more detectable? The only thing this is going to do is incur the expense of printing more $50 bills and establishing a recall program to take the $100 bill out of circulation.

It may affect us as gamblers in the sense that the Benjamin is our banknote of choice and we'll have to carry $50 notes instead, but really, what am I going to do? Say "I'm going to stop going to Vegas because I can't gamble with $100 bills anymore"?

 

I was thinking the same thing. Vegas could easily use those!

 

There's about as much chance of getting rid of the letter 'Q'.

 

Apparently, the author of that article doesn't live in New Jersey. How am I supposed to conduct my business without $100 bills? What a silly idea.

 

They can't kill the penny and it takes more to make than it's worth! But seriously, we were supposed to be a paperless economy a long time ago with all transactions being electronic. There are reasons it hasn't happened and I can't see the general public going along with this.

 

26 years ago when I got in the newspaper racket the industry was all lathered up 'cause newsprint was gonna be dead in a few years.

 

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I always imagine Larry Summers (the one who floated the idea of killing the $100 bill) in his depiction in the movie The Social Network. Whenever I see him on CNBC or whatever news show featuring talking heads and officials, my mind checks out and I start laughing at this scene.

For those who haven't seen the movie, it really is one of the best movies of the past 6 years.

Larry Summers: Millions? I think you just might be letting your imaginations run away with you.
Tyler Winklevoss: Sir, I honestly don't think you're in any position to make that call.
Larry Summers: I was the US Treasury Secretary. I'm in some position to make that call.

 

I would like to see a $1000 bill so I wouldn't have to carry 40 $100 around the airport and on the plane going to Vegas, having paranoid shit fits every 30 seconds.

 

It would make a difference in the bulk cash smuggling and illicit trafficking world. The issue you raise s significant because criminal Enterprise doesn't deal with 5000 or 10000, but doubling the size of 500k or several million is significant.

The article is ridiculous, as this won't happen, but minimizing the outcome isn't accurate either.

Nick

 

I read an article many years ago --
That we had to get rid of PAY PHONES because of all the drug dealers transactions
being done on them.
This stinks of the same BULLSH*T !!!
*
Do you know why we had to get rid of all the PAY PHONES ?

 

I think it's because nobody was using them. Mobile phones are so ubiquitous that getting $0.25 or $0.50 per call isn't worth keeping and maintaining all of that equipment for.

 

I know the answer to my question.................you almost hit on it.

 

Because you can't play Candy Crush on a pay phone.

 

So you're saying there's a chance?

 

Somehow carrying 4- $1000 bills would ease your shit fits and paranoia? Misplacing a single bill may bring those results back.

Nick

 

I read that Finland, Norway or Sweeden has just about eliminated paper currency, almost all transactions are by credit card or some kind of phone pay. That's one way to "render to Caesar what is Caesar's".