Even though Europe is phasing out it's 500 Euro note from circulation by the end of 2018, due to organized crime using the large denomination banknote, I feel that they are taking a step backwards and in the wrong direction, in a world where prices are going up, not down, and even though people can use checks debit and credit cards, and other technologies, I have been in long lines at the store, waiting about 20-30 minutes, for the line to clear up. Then, when I get to the last person in front of me, the person whips out their credit or debit card, and the machine goes haywire, and I am stuck in line another 10-20 minutes longer, waiting for the mess to be taken care of. Bottom line: Cash is still King.
Also, due to inflation $100 does not go as far as it used to, and if I want to make a large purchase with cash, I hate carrying a huge wad of $100 bills, which is more noticeable to muggers, pick-pockets and other thieves than a couple $200, $500 and/or $1,000 bills. And also, back in 1945, when the last $1,000 bill was printed, that $1,000 bill was worth $13,000 today, which brings the compelling argument to bring back, even the $5,000 and $10,000 bills and issue a $2,000 bill, as well.
Bringing back the $500 and $1,000 bills and issuing a $200 bill, would reduce theneed to print so many $100 bills each year, and thus, would save money.
As far as organized crime goes, the government needs to realize this simple truth, as, even if we got rid of cash altogether, organized crime would use bullion metals, such as gold, silver and the would also use valuable antiques and even artwork and such.
This was stated about Switzerland's $1,000 Franc note, worth $1,008 USD involving the organized crime issue:
"Switzerland's 1,000 Franc note ($1,008): This is currently Europe's most valuable note and, despite the demise of the 500 Euro note, the Swiss have vowed to keep it. According to the Guardian, a spokesman for the Swiss National Bank (SNB) said the bank believed that---despite other big notes being discontinued over money laundering fears---the size of a banknote had "no impact" on efforts to combat crime."
Therefore, I believe that, the U.S. should have $200 bills for the first time, and $500 and $1,000 bills again, to combat inflation, and to save tax dollars by reducing the amount of U.S. $100 bills, which the demand for this denomination continues to grow, especially overseas as a strong store of wealth, in underdeveloped countries, and with $100 bills costing more to print, as U.S. currency is redesigned to add expensive new anti-counterfeiting features, to stay ahead of counterfeiters, printing a few larger denominations besides the $100 bill, would cut down on printing costs of $100 bills. Also, the $200 bill will cut down on printing more $100 bills. The $500 bill would cut down on printing costs of $200 and $100 bills. And the $1,000 bill would cut down on the demand for $100, $200 and $500 bills, thus, saving the U.S. government time and money.
We need to stand up, and look at the good American people, who will benefit from these large currency denominations, and not let organized crime dictate, or put fear into the mind's of the U.S. citizens on "What if money launderers, drug dealers and counterfeiters take advantage of using $200, $500, and $1,000 bills?" We need to think of the good people who would benefit from these lager denomination Federal Reserve notes, and show that we are the better country, and take the step forward, and in the right direction, and issue new $200 bills and reissued the $500 and $1,000 bills. From what I have read, most crime doers like to use $5, $10, and $20 bills more than $50 and $100 bills, to avoid being under suspicion from carrying large denominations such as the $50 and $100 bills.
So, as a matter of convenience of the good, honest people, we should bring back our $500, and $1,000 bills and issue new $200 bills, with the Post 2020 Meaningful Access currency redesign.
