Cash Still Rules!

01/27/2016 Mises Wire Joseph T. Salerno

The exhortations of our rulers and their crony fractional-reserve banksters to renounce our irrational desire to hoard cash and embrace a brave new cashless world appear to be falling on deaf ears, at least in Europe. In 2015 there were 1.08 trillion euros ($1.17 trillion) of bank notes in circulation, up 6.5 percent from 2014. The trend has been steadily rising since 2001 when the total value of notes in circulation was less than 300 billion.

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