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Cash is dead. Long live cash

Cash is dead. Long live cash

Source: Federal Reserve Bank of San Francisco

Reports of the demise of cash are greatly exaggerated says John Williams, president and CEO of the Federal reserve Bank of San Francisco.

Since the start of the recession in December 2007 and throughout the recovery, the value of US currency in circulation has risen dramatically. It is now fully 42% higher than it was five years ago.

What explains the rapid rise in currency holdings at the same time other methods of payment are displacing the greenback? And what is the future of cash?

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Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 05 April, 2013, 19:28Be the first to give this comment the thumbs up 0 likes

I should've copyrighted "So, ..., tales of the death of cash are, like those of Mark Twain's, greatly exaggerated" when I'd written the line in The Death Of Cash Is At Least 190 Years Away.

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