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Per https://www.swissinfo.ch/eng/swiss-may-face-a-future-referendum-to-enshrine-status-of-cash/48297030 https://www.swissinfo.ch/eng/swiss-may-face-a-future-ref

Per https://www.swissinfo.ch/eng/swiss-may-face-a-future-referendum-to-enshrine-status-of-cash/48297030 https://www.swissinfo.ch/eng/swiss-may-face-a-future-referen... Swiss people have $11.8K in cash on average - an extraordinarily high amount. [edited to insert "Swiss"]

inductive_magic 4y ago
Fwiw, consumer prices in Switzerland don’t really compare to those in the rest of Europe or the US. Would be interesting to see a normalized bar chart.
raverbashing 4y ago
Swiss people are also good at saving money, regardless if it's cash or investments
- sschueller 4y ago
  Gets difficult when you are paying negative interest rates but at least that is over now. [1] [1] https://www.swissinfo.ch/eng/business/switzerland-exits-negative-interest-rate-era/47920304 https://www.swissinfo.ch/eng/business/switzerland-exits-nega...
542458 4y ago
I’m very very skeptical of that number… If all the US currency was evenly divided amongst the US’s population, each person would hold about $6600. But almost nobody actually holds that much cash in the US - that cash is mostly held by criminal organizations, individuals that can’t engage with the traditional banking system, and foreign governments. The Swiss Franc has similar utility to the USD in that regard, so I suspect that number is not representative of nearly all households.
- Scoundreller 4y ago
  Yeah, there's a ton of US$ cash outside of USA. Estimates have been between 40 and 72% https://www.bullionstar.com/blogs/jp-koning/how-much-u-s-currency-is-held-overseas/ https://www.bullionstar.com/blogs/jp-koning/how-much-u-s-cur... Swiss Francs are far from a reserve currency, beyond the poor recognition of the notes outside of Switzerland and nearby countries, so I'm doubting too many are held outside of Switzerland. Euros or Dollars would be far better.
dzhiurgis 4y ago
Whats the median, because average says nothing.

inductive_magic 4y ago

Fwiw, consumer prices in Switzerland don’t really compare to those in the rest of Europe or the US. Would be interesting to see a normalized bar chart.

raverbashing 4y ago

Swiss people are also good at saving money, regardless if it's cash or investments

sschueller 4y ago
Gets difficult when you are paying negative interest rates but at least that is over now. [1] [1] https://www.swissinfo.ch/eng/business/switzerland-exits-negative-interest-rate-era/47920304 https://www.swissinfo.ch/eng/business/switzerland-exits-nega...

542458 4y ago

I’m very very skeptical of that number… If all the US currency was evenly divided amongst the US’s population, each person would hold about $6600. But almost nobody actually holds that much cash in the US - that cash is mostly held by criminal organizations, individuals that can’t engage with the traditional banking system, and foreign governments. The Swiss Franc has similar utility to the USD in that regard, so I suspect that number is not representative of nearly all households.

Scoundreller 4y ago
Yeah, there's a ton of US$ cash outside of USA. Estimates have been between 40 and 72% https://www.bullionstar.com/blogs/jp-koning/how-much-u-s-currency-is-held-overseas/ https://www.bullionstar.com/blogs/jp-koning/how-much-u-s-cur... Swiss Francs are far from a reserve currency, beyond the poor recognition of the notes outside of Switzerland and nearby countries, so I'm doubting too many are held outside of Switzerland. Euros or Dollars would be far better.

dzhiurgis 4y ago

Whats the median, because average says nothing.