Are $100 bills really transactional currency in much of the US? I carry a few traveling internationally but I'd never count on being able to use one at a US convenience store and I'm guessing there would be some friction even at a chain store.

Not sure about you but in my area it's only true in the sense that new ATMs can dispense more bill types. They can also now dispense $5 and $10, where previously they only dispensed $20 and $50. I haven't seen any machines that only dispensed $20/$100, or $50/$100 for instance. The implication that they're preparing for some hyperinflationary event is therefore totally unfounded.

I'm pretty freaked out that ATM limits around me have dropped and dropped what can be withdrawn.

I used to be able to withdraw at least $500, now in a single transaction I can only withdraw $200 max. Given that inflation has gone so far the opposite direction, it's wild to me to see such low low maximum withdrawals.

$100 is the new $20. If I'm not buying $100 worth of goods it's hardly worth the gas to drive there.

Only time I pull out $20s is emergency money for gas station, since for whatever reason they won't take large bills.