I get that large bills provide more opportunities for conterfeiters, money launderers, and other (in the eyes of the State) bad actors, I am surprised to see how low the line is being drawn. In the US they only go up to $100.[0]
The worrying thing is simply that it's in the State's interest to have every monetary transaction be electronic and thus entirely traceable, also in aggregate; whereas it's in my interest to be able to spend (or loan, or give away) my money privately.
The lower the available currency denominations, the more this balance shifts towards the State.
The worrying thing is simply that it's in the State's interest to have every monetary transaction be electronic and thus entirely traceable, also in aggregate; whereas it's in my interest to be able to spend (or loan, or give away) my money privately.
The lower the available currency denominations, the more this balance shifts towards the State.
[0]https://www.treasury.gov/resource-center/faqs/Currency/Pages...