How to Carry $1 Million in Cash

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.

What is the main reason Larry Summers proposes to eliminate high denomination currency?

• To reduce the weight of carrying money

• To make illegal cash transactions more difficult

• To increase the value of the currency

• To promote digital transactions

If $100 bills are replaced with $50 bills, what is the immediate consequence for carrying the same amount of money?

• The number of briefcases needed doubles

• The money becomes easier to hide

• The weight of the money decreases

• The value of the money increases

How does reducing currency denominations affect the weight of the money?

• It remains the same

• It decreases significantly

• It increases significantly

• It becomes negligible

What is one of the easiest ways for criminals to bypass the reduction of high denomination currency?

• Using gold and silver

• Using foreign currencies with high denominations

• Using smaller denominations

• Using digital currencies

What is a major challenge in implementing a global solution to reduce high denomination currency?

• Lack of technology

• International cooperation

• Insufficient resources

• Public opposition