Touch the Soil News #761 (feature photo – Ellin Beltz – CC SA 3.0)
An Editorial by Benjamin Gisin
Do you ever get tired of using debit cards at the grocery store? People are always fussing with the card reader and being asked if you want e-mail stuff. When checking out, folks leave loads of statistics about what they purchased. Grocers use this information target you with ads, promotionals and may even stalk you when shopping online.
Over the past few years I have been favoring the use of cash. There are no questions asked, no hassling with the swipe machine, no risks of identity theft and I leave no audit trail of my purchases. I now notice when people pay in cash and there is a respectable number, so I thought I’d do some research.
On a national scale, the Federal Reserve reports that the use of cash is going up faster than the population by over three times. Over the last seven years, the volume of cash circulating in the U.S. is estimated to have gone up from $361 billion on 7/1/2010 to $604 billion on 7/1/2017 – an increase of $243 billion. This translates into $750 more per person in cash circulating around the economy today than seven (7) years ago.