# Why not demonetize old bills?

**URL:** <https://boards.straightdope.com/t/why-not-demonetize-old-bills/464212>\
**Category:** Factual Questions\
**Created:** [September 18, 2008, 9:22pm UTC](https://boards.straightdope.com/t/why-not-demonetize-old-bills/464212 "2008-09-18T21:22:13Z")\
**Posts on this page:** 1\
**Page:** 3

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**Author:** ![Northern\_Piper](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/northern_piper/32/5304_2.png) [@Northern\_Piper](https://boards.straightdope.com/u/Northern_Piper)\
**Post date:** [September 22, 2008, 1:05am UTC](https://boards.straightdope.com/t/why-not-demonetize-old-bills/464212/41 "2008-09-22T01:05:29Z")

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> [@BwanaBob](#):
>
> My goal with demonetizing is to screw over all those drug lords and other scum who hold wads of $100s (as some else mentioned, most of those bills are held overseas).
> 
> Anyone showing up with suitcases of old builds will have to do some explaining in order to justify the amounts they have. Jacques DrugDealer isn’t going to have a viable explanation and isn’t going to get his money exchanged.
> 
> Honest folk with bills to exchange have no need to worry.

Well, that’s a bit different from your OP, which suggested that the old bills would be “worthless” after six months. Now you’re suggesting a special process to exchange the old bills, as in the examples in the UK and Sweden, discussed earlier. That doesn’t sound like de-monetization to me.

But in any event, what does your proposal accomplish that isn’t already dealt with by the [Bank Secrecy Act](http://en.wikipedia.org/wiki/Bank_Secrecy_Act#Affected_transactions), which requires disclosure of cash transactions/deposits of over $10,000? If a drug-dealer shows up at a bank with a suitcase with more than $10,000, even nice, crisp new ones, the bank has to report it to the feds. What additional safeguard would your proposal add?

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