General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThere is approx $3776.64 cash for every man, woman, and child in America
According to the Federal Reserve Board, there was approximately $1,198.3 Billion of Federal Reserve notes and coins in circulation as of December 31, 2013
- http://www.federalreserve.gov/paymentsystems/files/coin_currcircvalue.txt
The United States population on December 31, 2013 was: 317,292,487
- http://www.census.gov/popclock/
1,198,300,000,000 / 317,292,487 = 3776.64158...
So how do we extract it from all the hiding places around the globe and redistribute it equally here in the United States?
Cartoonist
(7,323 posts)So what's the term for other money? I was going to say paper, but that can't be right.
ohnoyoudidnt
(1,858 posts)How much is there electronically? I don't think if one have a billion in a Swiss account that the bank has a billion in physical bills.
The amount of total US currency is way over 1.2 trillion.
Warren Stupidity
(48,181 posts)But money circulates, it is always in motion. Dividing it up statically misses the point. How to achieve lower inequality? Raise the minimum wage; increase public services, for example universal single payer health care and universal access to higher education through grants, not loans; adjust tax policy: a progressive wealth tax, reverting income tax rates to pre-1981 levels.
Travis_0004
(5,417 posts)Under fractional reserve banking, there is a lot more money created by banks than is ever created by the federal reserve.