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I heard on a TV show (Leverage) that there is only $500 cash in our country for each American.

Could that possibly be true?

Ok, let's think this through.

300 million people, more or less, times $500 equals One hundred fifty billion dollars.

Someone want to check the Treasury department and see if they tell how much cash they keep in circulation at any given time?

peacock2121 wrote:I heard on a TV show (Leverage) that there is only $500 cash in our country for each American.

Could that possibly be true?

Due to the title of the thread, I do not feel qualified to answer this question.

The web site chacha quotes the NY Federal Reserve bank as saying that in December 2007 there was $829 Billion cash in circulation. The $500 number may be off by a factor of 5 or so.

Rexer25 wrote:

peacock2121 wrote:I heard on a TV show (Leverage) that there is only $500 cash in our country for each American.

Could that possibly be true?

Due to the title of the thread, I do not feel qualified to answer this question.

LOL - We can just sit in the corner and look cute.

nitrah55 wrote:The web site chacha quotes the NY Federal Reserve bank as saying that in December 2007 there was $829 Billion cash in circulation. The $500 number may be off by a factor of 5 or so.

It should be illegal for shows to say things that are not true.

peacock2121 wrote:

nitrah55 wrote:The web site chacha quotes the NY Federal Reserve bank as saying that in December 2007 there was $829 Billion cash in circulation. The $500 number may be off by a factor of 5 or so.

It should be illegal for shows to say things that are not true.

Don't say that in front of Limbaugh. He'll insult you on national radio.

Rexer25 wrote:

peacock2121 wrote:

nitrah55 wrote:The web site chacha quotes the NY Federal Reserve bank as saying that in December 2007 there was $829 Billion cash in circulation. The $500 number may be off by a factor of 5 or so.

It should be illegal for shows to say things that are not true.

Don't say that in front of Limbaugh. He'll insult you on national radio.

But you won't find me apologizing to him.

nitrah55 wrote:The web site chacha quotes the NY Federal Reserve bank as saying that in December 2007 there was $829 Billion cash in circulation. The $500 number may be off by a factor of 5 or so.

It took some hunting on the Federal Reserve website to confirm that, but the $830.2 Billion* is correct, as of February 2, 2009.

*

1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.

peacock2121 wrote:

nitrah55 wrote:The web site chacha quotes the NY Federal Reserve bank as saying that in December 2007 there was $829 Billion cash in circulation. The $500 number may be off by a factor of 5 or so.

It should be illegal for shows to say things that are not true.

Because there is $829 Billion in circulation does not mean it is all in this country. Indeed a goodly portion of it probably is not. Many people around the world horde US cash as a hedge against their own currency. And there are 6 billion of 'em out there to do the hording! Thats $138.17 a piece, give or take. Some have less, some have more...

Hell, drug cartels probably have at least half of it if cop shows are to be believed!

Currency is only one of the various parts of our money supply, which (as included in various measures) includes checking account deposits, savings accounts deposits, etc.

Rexer25 wrote:

peacock2121 wrote:I heard on a TV show (Leverage) that there is only $500 cash in our country for each American.

Could that possibly be true?

Due to the title of the thread, I do not feel qualified to answer this question.

But you're the one collecting the Hamiltons. You must have a ton of them by now.

ulysses5019 wrote:

Rexer25 wrote:

peacock2121 wrote:I heard on a TV show (Leverage) that there is only $500 cash in our country for each American.

Could that possibly be true?

Due to the title of the thread, I do not feel qualified to answer this question.

But you're the one collecting the Hamiltons. You must have a ton of them by now.

I should have a ton of them by now. What I do have is several tons of scrapbook materials, Barbies & Nintendo DS equipment.

MarleysGh0st wrote:Currency is only one of the various parts of our money supply, which (as included in various measures) includes checking account deposits, savings accounts deposits, etc.

Yes- actual currency is rather a SMALL part of our overall money supply, thanks to fractional reserve banking and the money multiplier.

Jeemie wrote:

MarleysGh0st wrote:Currency is only one of the various parts of our money supply, which (as included in various measures) includes checking account deposits, savings accounts deposits, etc.

Yes- actual currency is rather a SMALL part of our overall money supply, thanks to fractional reserve banking and the money multiplier.

I could use one of those...where did you get your money multiplier?

Rexer25 wrote:

Jeemie wrote:

MarleysGh0st wrote:Currency is only one of the various parts of our money supply, which (as included in various measures) includes checking account deposits, savings accounts deposits, etc.

Yes- actual currency is rather a SMALL part of our overall money supply, thanks to fractional reserve banking and the money multiplier.

I could use one of those...where did you get your money multiplier?

Can I convert my Avatar Genie to a money multiplier?

Rexer25 wrote:I could use one of those...where did you get your money multiplier?

Get yourself chartered as a bank...and then you can have a money multiplier!