There was a demonetization in India. I heard that this was difficult for Indian residents to handle.
I understand most of the money is in digital forms, but there is still a large amount of actual currency in circulation with other countries holding a large amount of it and I am sure a big chunk is in $100 or $50.
Can the world's leading currency USA have a demonetization with large USD bills such as $50 and $100?
If yes, how will that affect cash users immediately and long term?
How will it affect me if I am paid with cash inside or outside the US? How will it affect me if live in a country with unstable currency and I use US dollars for short-term savings? How will it affect those who prefer to pay for goods and services with cash?
With due respect, this is not a hypothetical question and is a possibility per 'The Trade Dollar" being demonetized in 1876. Thanks @HartCO . Certainly there is contrary argument that "demonetization in USA is a not a possibility per 14th Amendment prevents demonetization" thanks to @chepner