My source is none other than the Fed and their own stats.
Here is a link: http://www.federalreserve.gov/releases/h6/hist/h6hist1.pdf
Take a look at the relative rate of increase of M1 over M2 since say Jan 2009. I look at the unadjusted numbers.
So where oh where is all that currency going? I’ll tell you my theory, but I’d like to hear your theory first.
;-)
I have to say I don't know...but I do know that it's immediately spendable CASH. Checking accounts and physical currency.
Perhaps it just a symbol of the inflation over the years. Same amount of purchasing power.
That said I do know many persons who are actually keeping physical cash in the house and keeping the checking accounts as flush as they can waiting for a pop of the bubble and/or complete social collapse. Whether that's a trillion dollars, I don't know. But it might be.