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No, the overwhelming majority of money is purely digital. For example in 2009 the Bank of England issued £200 billion of quantitative easing, not a single penn
by dingaling 11y ago
No, the overwhelming majority of money is purely digital. For example in 2009 the Bank of England issued £200 billion of quantitative easing, not a single penny of which was physical.
M0 is the closest economic measure of what you and I consider physical money though it does include some non-physical assets that can be quickly converted to cash. In the USA today, M0 is about 15% of the total money system.