Diary (May 17, 2022)

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Online diary of Karl Jones for Tuesday May 17, 2022.

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Diary

Hundred dollar bills

Lost in Iraq

How the US sent $12bn in cash to Iraq. And watched it vanish

Special flights brought in tonnes of banknotes which disappeared into the war zone

Surge

There’s been a mysterious surge in $100 bills in circulation, possibly linked to global corruption

WED, FEB 27 20199:22 AM

The number of hundred-dollar bills in circulation has skyrocketed in the past decade. It could be a troubling indicator for global corruption as high-denomination bills remain a go-to for criminals, given the anonymity and lack of transaction record. “There’s certainly enough evidence to say it is an enabler of corruption, but it is also a way for people to keep assets outside of the financial system,” says Nicholas Colas, co-founder of DataTrek research.

In the News

Fiction cross-reference

Nonfiction cross-reference

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