Is cash dead? Like, we’re kind of talking about how we never use it—is it on life support? Is it a senior citizen living out its days in glory? Where is cash right now? How much is it being used around the world?
John Detrixhe: So cash is this amazing paradox. It is simultaneously losing popularity, and at the same time. more popular than ever. People are paying for things much less often with cash. But at the same time, there’s more cold, hard cash, particularly US dollars, in circulation than ever—more than $2 trillion is in circulation. And it actually accelerated last year—it went up by what the Federal Reserve called an ‘unprecedented‘ amount. So it’s this just beautiful, amazing paradox that cash is simultaneously not being used, but more popular than ever.
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John Detrixhe: So cash is this amazing paradox. It is simultaneously losing popularity, and at the same time. more popular than ever. People are paying for things much less often with cash. But at the same time, there’s more cold, hard cash, particularly US dollars, in circulation than ever—more than $2 trillion is in circulation. And it actually accelerated last year—it went up by what the Federal Reserve called an ‘unprecedented‘ amount. So it’s this just beautiful, amazing paradox that cash is simultaneously not being used, but more popular than ever.
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Cashless India hurts the Economy
