Law officials are now trying to debate whether the $100 bill is even worth having around anymore. Since it has such high value, bank robbers and other criminals prefer to steal them since it is a lot less they need to transport to a different place and it does not take up as much space. Also, since about 80% of currency printed is $100 bills this makes it easier for counterfeits to be produced. Many printers can get away with making them since they are so abundant compared to any other dollar amount. The counterfeits are then brought to low key stores such as pharmacies, and car washes in order to be traded for real money. I chose this article because if the $100 bill was no longer printed it would greatly affect our economy and the value of the United States since our biggest amount of currency being produced no longer is.
http://money.cnn.com/2014/08/15/news/economy/100-bill/index.html?iid=SF_E_River
Do you think the $100 bill should no longer be produced or is it a waste of time and money?
If there are no more $100 bills will criminals be slowed down or do you think they will find another form of currency to reproduce?
I personally don't think that the $100 bill should stop being produced. If we stop producing the $100 bill then the US will have a hard time inflating our way out of debt, and it could cause a deflation. Criminals would be slowed down if the $100 bill stopped being produced but they would then probably start reproducing the $50 bill. However, the economy right now needs the $100 bill. If anything the US should get rid of pennies and not the $100 bill. I hope for the sake of the economy that the US continues to make the $100 bill.
ReplyDeleteI think that the $100 bill should keep being produced, because criminals can just as easily print smaller value counterfeit bills, so it will not slow people down from printing counterfeit bills. If criminals want to print fake bills that badly, they will find a way to print smaller value bills faster. Also, the $100 bill is very convenient for many honest people to use, especially if they are making a big purchase. Then, they don't have to fill their wallets with $10 bills . People only have to use a few $100 bills. Since criminals will still reproduce counterfeit money whether the $100 bill is being printed or not, I think the $100 should still be produced.
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