There was a big buzz about a year or so back about the US mint making a new $100 bill and someone leaked the information that showed it was going to be backed by gold? Something like a hundred billion $ or something was produced and sitting in one of the mint vaults waiting the "new dollar" to be unveiled. I have not heard anything in a while, was the leak just BS?
They might as well just start printing $1000 bills at this point if they are starting over. Part of me thinks that they are reconsidering somewhere at the Treasury or Mint about such a thing eventually. But to do it right now would tell everyone that the U.S. actually does acknowledge creeping inflation and is expecting rampant inflation soon. They will delay the new $100 until the new $1000 is warranted and inflation can no longer be denied.
Why wouldn't they have $1000 bills in circulation anyway? Why did they ever do away with them? Probably the MOPE of inflation whenever that decision was made.
Anyone know about the history of money or when the large denominations were discontinued and why???
An epic lack of foresight, accuracy and rationale... https://www.tfmetalsreport.com/comment/170246#comment-170246
I never thought of the 100 dollar bill blunder as a realization that inflation was going to hit hard.. I truly thought it was just a major foul up. But, if you think about it in the context of Zimbabwe and their having to print 10 fold higher denominations on a pretty much monthly, then weekly, then daily basis... you start to go "hmmmmm"..
That being said, I still think the 100 bill blunder was just that.. for now :)
That $1000 Silver Certificate was meant for bank to bank transfers.
It was not used in general circulation.
Printing a $1000 bill would be tantamount to officially showing that the FRN had devalued substantially.
Instead, they are locking us out of withdrawing more than several thousands dollars from our bank accounts.
Canada stopped printing $1000 bills to frustrate money-laundering, drug trade, etc etc.
Perhaps the Goldbugs should spread the word in those communities that $5,000 in gold is pretty easy to carry and 1oz coins are freely available. $100,000 in gold would actually take up less space than $100,000 cash.
Talk about crash JP!