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WHAT PERCENTAGE OF ORGANIZED CRIME UNITS HAVE SWITCHED FROM THE USD TO THE EURO AS THEIR CURRENCY OF CHOICE FROM 2000 TO 2006?

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WHAT PERCENTAGE OF ORGANIZED CRIME UNITS HAVE SWITCHED FROM THE USD TO THE EURO AS THEIR CURRENCY OF CHOICE FROM 2000 TO 2006?


[+] ballot by texsue57
ACTIVE Sun Apr 02, 06 - Fri Dec 26, 08

Before thirteen national currencies of Europe were consolidated into the Euro, 99.6% of organized crime units used the $100 bill to conduct their illegal transactions. Resulting from the advent of the 500 Euro note, criminals can now fit six times the amount of money in the form of an equally reliable currency into the same amount of space.

500 Euro = 605.796 US Dollars
(As of April 2, 2006)

The amount of illegal transactions performed in USD fell from 99.6% in 2000 to 95%, 91%, 87%, 81%, 75%, and 60% in 2001, 2002, 2003, 2004, 2005, and 2006, respectively. It is estimated that by the end of the decade that number will stabilize somewhere between 40-50%.

It is estimated that 60-70% of United States currency is in circulation abroad at any given time. The switch from the USD to the Euro by organized crime syndicates has resulted in a drop in demand of United States currency of nearly 8.5% contributing to the decline of an already weakened dollar.

It has been suggested by a few representitives in the United States Congress that the United States resume printing of at least the $500 and $1000 bills in order to be "more competitive" in the world currency exchanges.

On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use. Although they were issued until 1969, they were last printed in 1945. These notes still retain their legal tender status.

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