Koch Drug Weapon: Recall All $100 Bills
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United Press International
NEW YORK — Mayor Edward I. Koch wants President Reagan to pull $100 bills out of circulation because the notes are “the backbone currency of drug traffickers.”
In a letter to Reagan dated Wednesday, Koch recommended that all $100 bills be eliminated and that a redemption program for the currency be set up.
The redemption program proposed by Koch would require those who turn in more than $10,000 in $100 bills to explain how they acquired the currency.
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