Loading ...Instead of killing cash, the pandemic might have saved it.
Apocalypse now? Canadians turn to cash as a hedge against chaos
https://financialpost.com/news/economy/canadians-hoard-cash-hedge-against-chaos
Story is Paywalled but here is the survey…click on “available as a PDF”
https://www.bankofcanada.ca/2022/12/staff-discussion-paper-2022-23/
Lots of charts at the end…but this one is the most important
According to this analysis by July 2022 there was about 12 BILLION more in circulation than there would have been with the normal trajectory before covid. ( thats about 10% More due to hording)
I’ve been paying for most items with cash and personal checks for many years now.
Rarely do I need to use my credit card, but sometimes it becomes necessary.
I try to keep several weeks supply of cash stashed away so it is readily available when I need it.
Every time you use a credit card to pay for an item, some bank is taking a cut of that transaction.
On top of that, the credit card issuer imposes over-the-top interest charges on unpaid balances.
Not to mention they know your every move
I think they’re saying that people are hoarding much more cash but they’re not actually using it for transactions. Cash payments continued to fall over the years to a current 22% of transactions, the same level as credit cards. On the other hand, can we trust anything at all the gov’t says about matters related to the Great Reset? Why not publish “data” that confirms what they want to do? The central bankers keep popping up as the core group of instigators in all these evil schemes.