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How could you estimate the rate of theft for US currency? It depends on how you define 'stolen'. Was the 2008 global financial crash a huge case of theft? It al
by FatalLogic 11y ago
How could you estimate the rate of theft for US currency? It depends on how you define 'stolen'. Was the 2008 global financial crash a huge case of theft? It also depends on how you define 'currency', as there are various measures of money supply, not just physical currency.
One case, Bernie Madoff: $65 billion stolen
Though that 1 in 14 number which you cited is barely even a guesstimate, for bitcoin it is easier to estimate the rate of theft, because at least you know exactly how many bitcoins exist now, or will exist in future, unlike the USD.
A few other points for us to consider..
* About 75%-80% of banknotes in developed countries have traces of illegal drugs. One study suggested about 4% were involved in illegal activity such as purchasing, selling or using drugs[1]. Other crimes do not leave obvious chemical traces of course.
* The further back into history you look, into colonial times and earlier, the more true becomes the statement "All wealth is stolen"
[1]https://en.wikipedia.org/wiki/Contaminated_currency https://en.wikipedia.org/wiki/Contaminated_currency
- Animats 11y ago"One case, Bernie Madoff: $65 billion stolen" From bop.gov: BERNARD L MADOFF Register Number: 61727-054 Age: 77 Race: White Sex: Male Located at: Butner Medium I FCI Release Date: 11/14/2139
- jacquesm 11y ago> Release Date: 11/14/2139 I think given his age that he'll be released in a horizontal position a lot sooner than that.