Money: Hard Money In The United States
Despite the rising popularity of digital payments in modern times, cash remains to be king, as proven by the 87-percent growth in the amount of American currency in global circulation in the past decade, says the Federal Reserve Bank of San Francisco, reported CNN.
CNN said it included “hard money held by banks, businesses, investors and ordinary people.”
Hard money often refers to coin money, with soft money being paper money.
From $783 billion back in 2006, the amount of US dollars circulating in the world reached $1.46 trillion in 2016, according to a study that served as a reference for the San Francisco Fed.
Another study, this time conducted by the Federal Reserve Bank of New York, reckoned that more of these dollars are held by people
CNN said it included “hard money held by banks, businesses, investors and ordinary people.”
Hard money often refers to coin money, with soft money being paper money.
From $783 billion back in 2006, the amount of US dollars circulating in the world reached $1.46 trillion in 2016, according to a study that served as a reference for the San Francisco Fed.
Another study, this time conducted by the Federal Reserve Bank of New York, reckoned that more of these dollars are held by people