CNBC article —
"It’s time to kill the $100 bill.
"A moratorium on printing new high denomination notes would make the world a better place.
“Here is a step that will represent a global contribution with only the tiniest impact on legitimate commerce or on government budgets. It may not be a free lunch, but it is a very cheap lunch.”
Lawrence Summers, former treasury secretary
and director of the National Economic Council
- “The Federal Reserve and Treasury make 99 dollars for every $100 dollar bill they print and sell offshore. There’s a natural desire to keep printing these things — the U.S. government makes a lot of money selling them.”
Nicholas Colas, co-founder of DataTrek Research