Individuals see paper currency as a store of value and hedge against another financial crisis
My latest contribution to Bloomberg Prophets is about money. Real. Cash. Money. Despite all the great non-cash payment solutions out there, we haven’t seen “Peak Cash” in either the US or Europe. Weird fact: there are more transactional (non-$100 bill) cash dollars in circulation than ever before, and the same goes for euros (ex 100 – 500 notes). Why? Read my commentary here.