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Dinesh

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Posted: 16 Apr 2022

Taken: 16 Apr 2022

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The History of Money •
Author •
Jack Weatherford •

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 Dinesh
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The emergence of the global electronic money system with the free-floating currencies of the world allows millions of dollars to be transferred from one currency to another instantly at any time and on any day of the year. By 1995 this homeless electronic money had surpassed $ 1.3 trillion a day in transactions as traders deserted the dollar, fortified the mark, then raced to the yen or off to some other momentarily popular currency somwehre in the farthest corners of the world.

The volume of transactions measured in trillions is hard to conceptualize, but if converted to one-dollar bills, a sum of 1.3 trillion would weigh more than thirty-two steel ships the size of the Titanic. Yet the new money need no fleet of ships to transport it around the world because travels instantly. ~ Page 252

The History of Money
2 years ago. Edited 2 years ago.

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