The iGeneration-The Case Against the $100 bill

Even as people in advanced economies are using less paper money, there is more cash in circulation―$4,200 for every American, mostly in $100 billsKenneth S. Rogoff, PhD, author of The Curse of Cash: How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy believes the United States should discontinue the use of $50 and $100 bills, because they are primarily used as vehicles for tax evasion, the drug trade, terrorism, human trafficking, and other criminal enterprises. He outlined his plan for it phasing out, and said he believes it could cut criminal activity by 5-10%.