In the United States, there was approximately $1.29 trillion in circulation as of October 1, 2014, of which $1.25 trillion was in Federal Reserve notes. Interesting enough, this was nearly matched now by the Euro. According to the European Central Bank , which publishes its balance sheet every week, circulating euro banknotes has just crossed the €1 trillion euros, exactly €1.0172 trillion euros. What is fascinating is that the amount of currency is INCREASING despite the fact that the GDP is declining. The amount of notes in circulation increased 6.4% in 2014 while GDP in Euroland increased only by about 1.3% … Continue reading Europeans Hoarding More Cash