Depends, but generally speaking, the answer is No. It has been no in 1973, a no in 1984, a no in 1999, a no in 2013 and will be a no for the years to come. A CD or certificate of deposit is perhaps the lowest risk, lowest yield form of investment vehicle available to […]
You can bring as much money as you want to the United States. There are no limits or restrictions. A simple way to do this would be to wire-transfer the money into your bank account in the US and you would have to provide a source-of-funds proof statement, how did you get the money? Contrary […]
From a consumer point of view, it is very easy for users to understand what they are buying and paying for. Just like groceries, when you buy say oil, or rice or lentil, you are buying up front and then use it over the coming days. The very same consumer purchasing mentality was applied to […]
It depends: It is either pre-funded, i.e. arrangements are made to have enough money on the other side, so that when a payment is made, the money is taken out of the available balance and paid for. The other arrangement is credit (which has a counter party risk factor higher than the pre-funded one). In both cases, […]
Can it? Yes, it is a human construct. Will it? Eventually, yes! If you look at some of the futurologists like Gene Roddenberry, the creator of Star Trek, there was no money in Gene’s future. Gold, Silver, Diamonds, all lose relevance when you have a meteorite that is for example made of gold of platinum. when humanity […]
How much US currency physically exists? What percentage of US money only exists as data on banks’ computers?
The total number of Coins and Currency Notes, etc. are as follows: Source: The Fed – Data There was approximately $1.63 trillion in circulation as of March 21, 2018, of which $1.59 trillion was in Federal Reserve notes. Source: How much U.S. currency is in circulation? You also need to look at the M1 and M2 money […]
To give you an analogy, the same difference between an Airline and its flight number. Foreign Exchange refers to a currency type. For example US Dollars, or Philippines Peso, Kenyan Shillings, etc. Foreign Exchange rate refers to the the exchange rate between two currencies. If I hand over to you 1 unit of my currency, how many units […]
What would happen if I stole 10 cents from every bank account in the world, but paid it all back from my invested billions?
With roughly 7 Billion people in the world and 2 Billion being unbanked. You have essentially 5 Billion Bank Accounts to steal from. 5 Billion x 10 cents = $500 Million. Now sure how much you will make from your invested $500 Million. It is not the invested billions you had thought of. Even if you assume […]
When will cash, coins, paper money completely go away and only digital money or cards will be valid?
Suffice to say in the next 50 years, our money supply of cash, coins, and paper money would be a thing of the past. The increase in the clampdown on cash, and undocumented economies, and forcing (or migrating) everyone to the digital economy means that at some point in time in the next 50 years, […]
Cash and traditional fiat money channels are still on top of the list, however, it seems, it does not seem too far fetched an idea of exchanging payments using say Ethererum or Bitcoin. And if you are worried about price volatility, you can always convert it to USDT, or similar stable coins.