Bills Quote by Michael Hudson
“In China the largest denomination bill they have is 100 yen, and that's maybe $7. So here you have a whole economy working with only a $7 note as the largest denomination. The euro wants to get rid of the 500-euro bill just as the United States years ago got rid of the $1,000 bill because only the criminals used $1,000 bills.”
About This Quote
The quote highlights how a low maximum currency denomination can simplify an economy and reduce illicit use, as seen with past high‑value bills being eliminated.
In simple terms: Small top bills simplify economies and curb crime.
Key Takeaway
Consider the impact of currency design on society.
Themes
economics
currency
crime
policy
history
Mood
analytical
critical
Type
observational
informative
When to use this quote
- central bank policy
- cash handling
- financial education
Key Concepts
inflation
financial inclusion
black market
regulation
Questions to Reflect On
- How does limiting bill size affect everyday commerce?
- What alternatives replace large cash values?
A Different Perspective
High denominations can still be useful for large transactions.
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