Stop Printing Cash?! Yes. Maybe.

This weekend’s WSJ has an interesting proposal: stop printing large denomination cash bills. It is an idea worth considering not only for the reasons discussed in the article, but also because right now the government seems to view with suspicion almost any business accepting large amounts of cash as payment for goods sold. Often innocent business owners are increasingly caught up in federal money laundering investigations simply for accepting legal tender. If the government really views all such transactions as inherently suspicious – as one federal prosecutor told me – then maybe its time for the Treasury to stop printing the cash. If the Feds don’t want people using it, should they stop printing it?