[JRandomFreeper]

The dollars in your checking account are only electronic entries in a database. You don't think there is actually cash sitting in a bank, do you?

See the M1 vs M3 money supplies data.

/johnny

[Atlas Sneezed]

The dollars in your checking account are only electronic entries in a database. You don’t think there is actually cash sitting in a bank, do you?

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I can buy gold or real estate from ANY seller with those dollars.

Can I do that with bitcoins?

[enraged]

Most certainly there is cash in the bank. At least enough to cover what piddly amount I keep in there. I get the whole frqactional reserve scheme, but if I want cash today, I can get cash today. Tomorrow? That’s another question / argument.