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So a report popped up (Z.1) Flow of funds that indicated "US households have $9.561 trillion in deposits, which include checking and savings accounts and certificates of deposit." Yet the Federal Reserve said, "there was approximately $1.67 trillion in circulation as of June 27, 2018, of which $1.62 trillion was in Federal Reserve notes." -what gives? Additionally, I wonder how many 'notes' are being hoarded over-seas...?
Cliff Notes version: printed/coined money is a small fraction of "money" and there are about five different ways to categorize "money" in a macroeconomic system. If you have the vague notion that printed money represents some majority of "money" in and out of banks, you're going to need to start on page 1.
Hey Quiet..... Not sure what your reply addresses. Well, on its face, nothing. I never used the term 'money.' So forget that. I didn't quote a 'vague' notice, I quoted information from the Fed (you know, 'from your cliff notes,') the 'note' factory. Care to try again?
Your post indicates you have no idea of what the difference is between bank deposits and notes in circulation, let alone the larger indexes of what we call money. There is no answer to your slightly muddled questions except for you to read up on what these different measures of money are.
My answer was completely straightforward in this regard.
Here's a different take on a starting point: Printed money is essentially pocket change in our monetary system. The money in banks and investments has almost nothing to do with printed bills. The why of this is a bit complicated and is best understood by reading some formal intro to Econ stuff, not arguing about it in a forum.
So a report popped up (Z.1) Flow of funds that indicated "US households have $9.561 trillion in deposits, which include checking and savings accounts and certificates of deposit."
And that's one key measurement of money, which ignores many, many times that amount in commercial and governmental circulation. It has nothing to do with printed/coined money.
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Yet the Federal Reserve said, "there was approximately $1.67 trillion in circulation as of June 27, 2018, of which $1.62 trillion was in Federal Reserve notes."
This is a statement of how much money is out there in the form of printed and coined dollars, a completely different number drawn from a complex picture. FWIW, I read it as "$1.62T in paper and $0.05T in coins and other specie."
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-what gives?
You don't understand the different references in your two sources, and that you could continue with the slightly conspiratorial...
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Additionally, I wonder how many 'notes' are being hoarded over-seas...?
...indicated to me that you don't really understand monetary systems. Again FWIW, there are a lot of US bills outside the country, but I'd wager that most of them are in more or less legitimate circulation rather than being "hoarded" for any nefarious purpose.
The short answer to your meta-question is no, some huge amount of US wealth is not squirreled away under Saudi, Russian and Nigerian seat cushions.
(It's squirreled away under Wall Street and Upper West Side seat cushions.)
Your post indicates you have no idea of what the difference is between bank deposits and notes in circulation, <------ (Wasn't the original post clear enough (at least as quoted from the Federal Reserve ---> Flow of funds that indicated "US households have $9.561 trillion in deposits, which include checking and savings accounts and certificates of deposit."??? or, are you simply 'special?') let alone the larger indexes of what we call money. There is no answer to your slightly muddled questions except for you to read up on what these different measures of money are.
My answer was completely straightforward (more ignorant than anything else) in this regard.
Here's a different take on a starting point: Printed money <-- (Again, not what the post is about. Do you know how to read, or comprehend those funny text symbols commonly referred to as letters??) is essentially pocket change in our monetary system. The money in banks and investments has almost nothing to do with printed bills. The why of this is a bit complicated and is best understood by reading some formal intro to Econ stuff, not arguing <-- (It's a question, that's all. And you, as you've 'muddled' about already, have no idea of the answer. Yet, you're idiot enough to try and rephrase it into question, in which you have no idea of the answer.) about it in a forum.
Sorry if you found that offensive. <--- (what, your little insult about Econ101? Or your idiotic answer? Go back to finger painting and don't bother commenting in this thread, please)
Wow. What a pompous, semi-retarded response.
The post never, ever, (READ THAT AGAIN, if you're capable) mentioned 'money.'
...what? No raging denial that Federal Reserve Notes are money, or that you ever mentioned them, or something? With all name-calling elaborately highlighted in red?
Look. Essee. Old pal:
(1) Your entire first post was about "money" as it's understood in Western economics.
(2) Fifty percent of your first post was about printed money, and your own words say so.
So,
(3) You got an answer that was about the two completely different categories of "money" you were trying to compare.
You might want to try to come to some understanding of all of that before you blow off again and, as the phrase puts it, remove all doubt.
The post never, ever, (READ THAT AGAIN, if you're capable) mentioned 'money.'
Your thread is titled “show me the money—in circulation”.
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