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First Cyprus, then Canada now FDIC ?
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John Burns
Posted 3/30/2013 16:32 (#3002323 - in reply to #3001628)
Subject: a funny thought about cash



Pittsburg, Kansas

Ok, so it is not so funny.

You know how we all make fun and joke about the Germans of Weimar wheeling around wheel barrows of cash to pay for things????

Imagine a farm of any significant size, paying bills with the highest denominated currency unit available and demanding cash payment for income. Say an average size farm generates a million of revenues and pays out a similar amount in bills and turns it over a time or two each year. Say three million in transactions (million in, million out and some turnover).

That is 30,000 one hundred dollar bills to handle (assuming you never have to make change in any transaction). That is 2,500 bills a month. Figuring ones, fives, tens and twentys to make change for each transaction and small transactions would be at least double that so 5000 bills to carry, mail and hand out each month.

We are getting closer to wheel barrows than we think. Technology and plastic has just came to the rescue.

John

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