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I agree. I think the move from real money to electronic happening now is like what happened when we went from real silver coins and silver certficates to notes backed by nothing. Very subtle but powerful shift.
And of course no one notices.
It's funny how many things have moved to "Internet only" almost requiring you to have access to an Internet-enabled computer. Health insurance matters--right down to a list of service providers. Tax forms. Banking.
Just from my own personal standpoint, I always keep a few thousand dollars cash around the house, in case I need it ina hurry. I can only get $500 a day from an ATM. It's harder to find hiding places for a thick stack of bills. Whenever I go to Mexico, I always take a few thousand in cash in my moneybelt. It's pretty bulky with 20 or 30 bills in there. Somehow, I don't really feel comfortable watching my debit card disappear inside a machine in Mexico.
I once made a transaction in which I had to carry 12K in cash in my pocket when I went to work one day, luckily it was in Canada, where there are $1,000 bills. These are things that don't happen very often, but they still do. In Canada, there were probably a couple of times a year when I carried at least one $500 bill in my pocket.
It would be like the post office not making any stamps of more than 10c denomination, and if you sent a priority mailer when the post office is closed, you'd have to put 50 stamps on it. Wouldn't make sense.
A hundred dollars was a lot of money once. But it isn't any more. Is it time for the US government to bring back the $500 bill?
Should there be a single bill large enough to pay for a cart loosely full of groceries, or a SUV tank full of unleaded, or two grandstand tickets to a Red Sox game, or enough stamps to mail 250 Christmas cards??
Yes, I understand why it was abolished. With larger bills, it would have been impossible to achieve our gloriously and spectacularly successful victory in the war on drugs.
We desparately need a $500 bill! I am so tired of not being able to close my wallet because the stack of 100's is too thick.
Just from my own personal standpoint, I always keep a few thousand dollars cash around the house, in case I need it ina hurry. I can only get $500 a day from an ATM. It's harder to find hiding places for a thick stack of bills. Whenever I go to Mexico, I always take a few thousand in cash in my moneybelt. It's pretty bulky with 20 or 30 bills in there. Somehow, I don't really feel comfortable watching my debit card disappear inside a machine in Mexico.
I once made a transaction in which I had to carry 12K in cash in my pocket when I went to work one day, luckily it was in Canada, where there are $1,000 bills. These are things that don't happen very often, but they still do. In Canada, there were probably a couple of times a year when I carried at least one $500 bill in my pocket.
It would be like the post office not making any stamps of more than 10c denomination, and if you sent a priority mailer when the post office is closed, you'd have to put 50 stamps on it. Wouldn't make sense.
"I always keep a few thousand dollars cash around the house,"
You guys are missing the point: You'd never end up with a $500 bill unless you wanted one. How could you possibly end up with a $500 bill otherwise? By breaking a $1000?
Some of us would find it beneficial to have something larger than the $100 in the currency arsenal.
You guys are missing the point: You'd never end up with a $500 bill unless you wanted one. How could you possibly end up with a $500 bill otherwise? By breaking a $1000?
Some of us would find it beneficial to have something larger than the $100 in the currency arsenal.
There have been times where a $500 would have been perfect. Years ago, I bought a car from a guy who insisted on cash. Apparently his checking account had a judgement/lein on it so any type of deposit would be confiscated. He wasn't about to put $12000 into it and have it taken - I don't blame him.
So, I arranged with my bank to get that much cash. It was all $100 bills. It would have been so much easier to have $500 bills.
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