$100 Bill Becomes The New $1 Bill

The amount of $100 bills being printed is to set to spike 100%. In the fiscal year ending in October 2012, the US Bureau of Engraving and Printing printed up 3 billion $100 notes, a record amount of production. A bit of the demand comes from sources like drug dealers, arm smugglers, tax cheaters and bribes.  Still other demand is due to the fact that increasing amounts of US citizens are losing faith in government and/or the economy and are shunning traditional investment strategies. The lack of trust has resulted in a spike in gold bullion and precious demand, but, also, for $100 bills.

The phenomenon makes sense, considering everything these days costs $100 for a family. From filling your gas tank, buying groceries to going out to dinner and visiting the doctor/dentist.

The hoarding, moreover, is taking place not just here , but overseas as well. Knowing the exact quantity is difficult to know, though it is generally believed that the majority of $100 bills are being held overseas.

“Cash really is king if you want to preserve wealth in an increasing tax environment,” Colas says. “Nothing beats a $100 bill if you have to buy some food.”

Perhaps we can expect mainstream circulation of the $500 note to keep up with inflation.

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