CNBC: “$100 bills in circulation soar to a record, hinting at rise in global criminal activity”By admin_45 in IN THE NEWS
Excerpt from CNBC quoting DataTrek's Nick Colas:
.... "Nicholas Colas, co-founder of DataTrek Research who has been tracking $100 currency boom for about a decade, said he was expecting it to slow slightly. That has yet to happen and as he pointed out, we’re approaching the point where every human being on the planet could have to one hundred dollar bills in their pocket.
“Demand as a store of value far exceeds the demand for transactional cash,” Colas said. “It does lead to challenges if you want to track and deal with corruption, or not paying your taxes, or any of any other thing that cash also incidentally enables.”
While evidence is anecdotal and happens on a country-by-country basis, Colas said crime and use on the black market is a contributing factor in demand"....
Read the full article here on CNBC!