11–20 of 254 posts
They are circulating in places beyond the borders, I assume. We let North Korea print their own$100 bills for years as a form of off the books aid, but once that stopped the underworld needed someone to provide the currency. Remember the pallets of cash being sent to Iraq?
That's very hard to believe. Citation needed!
I wonder how many others do the same? It adds up I imagine.
Earlier quoted context omitted.
Argentinians have a lot of cash that they (we) use as an edge against inflation
I assume you mean USD cash to hedge against inflation of Argentinian pesos?
There is a lot of rumor and speculation about very benign things. 1. Precautionary savings. In a low interest rate environment, there is not the same penalty for holding cash as getting interest in a savings account. A lot of people find it prudent to have a buffer of cash, say enough to cover 1 month of expenses. So cash withdrawn from an ATM but put into a piggybank or under the mattress will appear here as "missin…
Argentinians have a lot of cash that they (we) use as an edge against inflation
People still use cash, but most of the "money" is tied up in finance's parasitism. So while the amount of e-cash has skyrocketed, cash is still circulating and in high use/demand among the people. I know that for facebook marketplace/craiglist I exclusively use cash... when I buy something from my neighbors or go to a non-chain market I go out of my way to use cash since it saves on transaction fees (and taxes, lol.)
I buy and restore classic cars as a hobby and I always buy/sell them in cash if I can.
There is a lot of rumor and speculation about very benign things. 1. Precautionary savings. In a low interest rate environment, there is not the same penalty for holding cash as getting interest in a savings account. A lot of people find it prudent to have a buffer of cash, say enough to cover 1 month of expenses. So cash withdrawn from an ATM but put into a piggybank or under the mattress will appear here as "missin…
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
Earlier quoted context omitted.
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
Physical cash that buys less and less with each passing day is not as useful, though.
There is a lot of rumor and speculation about very benign things. 1. Precautionary savings. In a low interest rate environment, there is not the same penalty for holding cash as getting interest in a savings account. A lot of people find it prudent to have a buffer of cash, say enough to cover 1 month of expenses. So cash withdrawn from an ATM but put into a piggybank or under the mattress will appear here as "missin…
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
Suffice it to say, I've been seriously considering the tradeoffs of hoarding cash under my mattress.
Earlier quoted context omitted.
Physical cash that buys less and less with each passing day is not as useful, though.
If you don’t get paid interest at a bank, and no brokerage is going to take you on (or you don’t trust them), then what else are your options?
There is a lot of rumor and speculation about very benign things. 1. Precautionary savings. In a low interest rate environment, there is not the same penalty for holding cash as getting interest in a savings account. A lot of people find it prudent to have a buffer of cash, say enough to cover 1 month of expenses. So cash withdrawn from an ATM but put into a piggybank or under the mattress will appear here as "missin…
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…