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Bye Bye $100 Bills

Former President Obama economic adviser, Lawrence Summers, had come out advocating for the end of the $100 bill and the €500. A million dollars, denominated in €500 weighs 2.2 pounds versus 50 pounds if denominated in $20 bills. Summers argues that the two bills are the currency of choice for illicit activity. However, some people have speculated that if the Federal Reserve ever wants to move toward negative interest rates, banning the $100 bill will make it more difficult for people to hide money at home.

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