How to Carry $1 Million in Cash

How to Carry $1 Million in Cash

Assessment

Interactive Video

Business

University

Hard

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The video discusses Larry Summers' proposal to eliminate high denomination currency like the $100 bill to deter crime. It explains how reducing the denomination size would increase the physical bulk of cash, making illegal transactions more cumbersome. However, it also highlights the loophole of using foreign currencies, such as the Swiss note, which can hold higher values in smaller sizes. The video concludes that without international cooperation, cash handoffs will continue to be feasible.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What alternative does the text suggest could be used to circumvent the proposed currency changes?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Discuss the implications of using foreign currency as mentioned in the text.

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