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> most dollars are already electronic ... Americans still have a strong preference for cash. These two statements seem to nullify each other.
by mycall 7y ago
> most dollars are already electronic ... Americans still have a strong preference for cash.
These two statements seem to nullify each other.
- davisr 7y agoMost Americans don't have most dollars.
- rodonn 7y agoAgreed. Most money is digital money held by banks and businesses. Even with paper dollars, something like 95% of the paper money supply is in $100 bills, which the typical American only rarely uses. Most Americans are not representative of the most common uses of the USD when you weight things by payment volume.
- viklove 7y agoWhich is why measuring economic health by GDP is utterly useless. It only measures the wellbeing of a minority of Americans -- those that have the most money to spend.