I'm not a big reader of "IMF" publications, but this article is interesting. JMR
http://www.imf.org/external/pubs/ft/fandd/2002/03/rogoff.htm The Surprising Popularity of Paper Currency A quarterly magazine of the IMF March 2002, Volume 39, Number 1 The Surprising Popularity of Paper Currency Kenneth S. Rogoff Will the global underground economy be the prime destination for those large euro notes? ------------------------------------------------------------------------ The introduction of shiny new euro notes and coins at the beginning of this year was indeed an exciting event. But one has to wonder. Why hasn't paper and metal currency already gone the way of the horse and buggy? With credit and debit cards, online banking, and so on, why isn't the demand for currency steadily shrinking to zero? Curiously, all prognostications about Internet money to the contrary, there is not a shred of evidence that the public is about to give up currency in the United States, Europe, or Japan. Indeed, evidence of the reverse is stunning. ..... --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
