high denomination currency Archives

currency, money, war on cash, high denomination currency, black money

More Evidence of the High Collateral Damage of a War on Cash

Larry White/January 26, 2018January 26, 2018 /6 Comments

The leading arguments for banning large-denomination currency notes are those made in a much-cited working paper by Peter Sands and at book length by Kenneth Rogoff. They have been rebutted persuasively by Pierre Lemieux and Jeffrey Hummel in their respective reviews of Rogoff’s book. I have previously…

$100 bills, Andrew Haldane, high denomination currency, Larry Summers, Private money

Fiat Money, Money & Politics

Against Currency Prohibitionism

Larry White/April 1, 2016April 1, 2016 /10 Comments

From time to time we hear calls for withdrawing today’s lowest and the highest denominations of US currency, the penny and the $100 bill, from circulation. In the last year a growing chorus has been calling for prohibition of the $100 bill. The rhetoric of the anti-high-denomination…