Moneymoneyrcwrttrumprecession

Sun Oct 27, 2019, 12:25 PM

So Much for A Cashless Society: Currency Is Popular Again, Especially the $100 Bill

By LEONID BERSHIDSKY AND MARK WHITEHOUSE
BLOOMBERG
OCT. 27, 2019 3 AM

Modern finance requires a lot of trust, and its digital future will demand still more. If, for example, electronic payments are to replace cash, people must be willing to believe that the bits of data traveling among phones, cards, terminals and blockchains actually represent something of value.

So, will people believe? Judging from their growing predilection for physical currency, maybe not.

At first glance, cash would appear to be on its way out.

Sweden has almost eliminated its use for payments. In America, home of the almighty dollar, almost a third of the population gets through a typical week without using a single banknote.

Businesses are experimenting with going cashless, hoping to speed up transactions, combat theft and create a safer environment for their employees.

Actually, though, physical currency is experiencing a resurgence.

People in many of the world’s most advanced nations — including the United States, the euro area and Japan — are holding more of it than ever.

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https://www.latimes.com/business/story/2019-10-27/cash-is-more-popular-than-ever

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Reply So Much for A Cashless Society: Currency Is Popular Again, Especially the $100 Bill (Original post)
RCW2014 Oct 27 OP
DDKick Oct 27 #1
RCW2014 Oct 27 #2

Response to RCW2014 (Original post)

Sun Oct 27, 2019, 12:37 PM

1. Personally I decided years ago to keep some emergency cash at home.

I am not a doomsday prepper but it makes sense to not have everything in any form of investment. Diversity is a good strategy IMHO.

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Response to DDKick (Reply #1)

Sun Oct 27, 2019, 03:29 PM

2. Same here, silver coinage too. eom

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