Are they just go to banks with bag of money and no one question that?
The launder it.
What do you mean with “replacing banknotes”? Issuing new banknotes isn’t just a fingersnap, its a rolling process and old notes are always valid and can be replaced later down the line at the central bank.
Or do you mean outright changing the currency?
… and can be replaced later down the line at the central bank.
I think there are countries in the world where that is not the case. India maybe 2 years ago removed one of their large denomination bills with like a week’s notice to get it changed and after that you were SOL. I think (but am not sure) old Sterling notes may also no longer be more than paper.
Yeah, but that’s India…
Big time drug dealers don’t hoard cash anymore, they launder their money to make it legitimate and keep it in banks and investments. Small time drug dealers are poor and can’t hoard cash.
Counter question to answer it,
What would they do with my hard earned money that’s I my drawer when government replaces banknotes with new ones.
Its a process that slowly removes money from circulation. It’s like swapping the water of a fish pond. You take some out, you add some back
Buy Bitcoin.
Yeah they just change it out? I used to work cash in hand for a takeaway and I’d have to put hundreds into my account every few weeks.
