{"id":29082,"date":"2017-12-22T07:08:37","date_gmt":"2017-12-22T12:08:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29082"},"modified":"2017-12-22T07:08:37","modified_gmt":"2017-12-22T12:08:37","slug":"66-of-the-economy-is-already-electronic-99-of-money-is-electronic","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29082","title":{"rendered":"66% of the Economy is Already Electronic & 99% of Money is Electronic"},"content":{"rendered":"
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66% of the Economy is Already Electronic & 99% of Money is Electronic<\/a><\/h3>\n<\/div>\n
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QUESTION:<\/strong> I loved your mention of how our money is not \u201cprinted\u201d. You are THE ONLY financial expert to mention this. And you can\u2019t understand our economy without understanding Electronic Money. I researched this 3 or four years ago and came up with, .003 physical currency vs the rest as Electronic Money. I later stumbled across an article on the same subject by an economics professor who put the ratio at .0003 physical. SO, who\/where\/how much\/ and by who\u2019s authority is E money created? E money is how the economy is propped up, and the amount is in TRILLIONS UPON TRILLIONS.<\/p>\n

ANSWER:<\/strong> That is about correct. However, it is actually much worse. About 40% of the value of the paper currency of the United States circulates outside the USA. In fact,\u00a0about 40%<\/strong><\/a> of the debt is also held outside the USA.<\/p>\n

Moreover, the bulk of the money is not just electronic already, but people failed to understand the change in the debt structure. Why do governments even borrow money when they have NO INTENTION<\/strong> of ever paying anything back? Once upon a time, before 1971 under Bretton Woods, it was illegal to borrow against government bonds. That was when the theory emerged that it was LESS INFLATIONARY<\/strong> to borrow than to print. The bonds were not part of the money supply. However, post-1971, you could borrow freely against government bonds. It no longer made any difference to print v borrow.<\/p>\n

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\"\"<\/a>Today, on average, 50%+ of the national debts of most countries is accumulative interest payments. When Federal paper\u00a0money began, it was really circulating bearer bonds in the United States. In fact, the reverse of the notes displayed the interest you would earn holding that currency.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

66% of the Economy is Already Electronic & 99% of Money is Electronic QUESTION: I loved your mention of how our money is not \u201cprinted\u201d. You are THE ONLY financial expert to mention this. And you can\u2019t understand our economy without understanding Electronic Money. I researched this 3 or four years ago and came up […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5496,15611,17620,5479,5432],"class_list":["post-29082","post","type-post","status-publish","format-standard","hentry","category-economics","tag-armstrong-economics","tag-cryptocurrency","tag-electronic-money","tag-martin-armstrong","tag-physical-cash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29082"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29082\/revisions"}],"predecessor-version":[{"id":29083,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29082\/revisions\/29083"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}