Been saving $20’s ever since they said they wanted to do away with $50 and $100 dollar bills. Guess this is the new way to track cash. Look for them to have a mandatory exchange program of old bills for new. Then expect a visit from a government agent if you exchange more than what they deem a reasonable amount. Every day it seems like the government is doing something new to exert total control. America was founded on freedom from government yet today’s youth seem more than happy to trade freedom and the opportunity to succeed for some free stuff. Might as well set the clock back 250 years.
Just wait until we go to a cashless economy.
I heard some country in Europe, don’t remember which, was phasing out paper money and coins. Your cash will be in the bank, and can only be accessed by electronic withdrawals to other accounts.
Among other things, there will be a record of everything you do with money.
I haven’t heard that it would happen here. But I would not be surprised if they do away with paper money and coins eventually. With almost all retailers accepting debit and credit cards, there’s little need to spend actual currency or coins.
Then this will evolve into a situation in which it would be suspect if you want to spend cash you have.