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HARVARD PROFESSOR CALLS FOR END TO U.S. $100 BILL
Howard Berlin forwarded this story about a Harvard professor who is recommending the elimination of the U.S. $100 bill. I heard about this paper on National Public Radio this week, too. Thanks.
-Editor
Is the $100 bill more trouble than it's worth? Influential Harvard professor Ken Rogoff thinks so. Rogoff ought to know. He was also once the chief economist at the international Monetary Fund. Nearly 80% of the $1.3 trillion currency in circulation is in the form of $100 bills, Rogoff wrote in a paper earlier this year. The sheer number is far more than anything that can be traced to legal use in the U.S. economy. In other words, the U.S. "Benjamin" is a favorite of criminals. Law enforcement agents agree. Criminals tend to prefer $100 bills because its easier to carry more money in less space, said Stuart Tryon, deputy special agent in charge of the criminal investigative division of the U.S. Secret Service. "Internationally, the $100 is the most commonly counterfeited note there is," said Tryon. To read the complete article, see: Does the $100 bill need to go? (money.cnn.com/2014/08/15/news/economy/100-bill/index.html)
Wayne Homren, Editor The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org. To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com To subscribe go to: https://my.binhost.com/lists/listinfo/esylum All Rights Reserved. NBS Home Page Contact the NBS webmaster 
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