January 30, 2009 by Patrick Madrid Filed under Patrick's Blog
I wonder what percentage of all financial transactions in this country actually see the transfer of physical currency. For example, my pay is deposited directly into my bank account electronically, and I can’t remember the last time that I used cash to pay for my gasoline. How does all of that electronic activity affect the money supply?
The little magnetic strip on my debit card can hold truckloads of money, theoretically.
I think I remember this really cool country called the Weimar Republic did something like this. Kids were building forts with bricks of money, milions of Marks(german currancy back then) and it was worthless. You needed a wheelbarrow to bring enough money with you to buy a loaf of bread. Huzzah for printing money.
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