Where Are All the $100 Bills?
Planet Money reports on the surprising destination of most U.S. $100 bills:
In fact, as of 2011, roughly two-thirds of all $100 bills were held outside the U.S., according to an estimate by Ruth Judson, an economist at the Fed.
The article explains why the high demand for U.S. currency is a good thing:
As Bruce Bartlett recently pointed out, when foreigners hold U.S. dollars, they are effectively giving the U.S. government an interest-free loan.
More broadly, foreign demand for U.S. currency (and U.S. Treasury bonds) in times of crisis is a sign that people in the rest of the world still see the U.S as the home of one of the safest, most stable economies on the planet.
(HT: The Big Picture)