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 […]
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 […]
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 […]
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.
Law. A decree that cites that the fiat money being issued is legal tender for exchange and settlement of debt between two parties. When the first fiat was issued, it was asset backed, which at the time was gold, silver, etc. (precious metals), but because it was the first time money was being issued, it […]
We’ve been taught this way. The majority of the world that is. If I had to fathom a guess, I would say 99.9% of the world population doesn’t know what fiat it, or how it is created, etc. All they know, that all their adult lives, they will live and work for something called money. It […]
You and I. This includes the government, and a little bit of faith. A “value” in the fiat world (IMHO) is an abstract term. It comes from demand and supply. What people are willing to assign for purposes of a medium of exchange. In a world of very little items, for example, consider Corn, Rice, Chickens, and […]
That there are TWO kinds of money, one that… Creates Jobs, improves the GDP, increases manufacturing, or provides a service (like elderly care or gardening or mechanic, etc.) The real money goes here. It builds businesses. Land, factory, plant, and machinery, etc. This is what the 99.9% of the people work for. This is the real world. This is the world’s […]