Absolved

Law of Supply & Demand Is Dead for Gold & Silver

THE PSYCHOLOGY OF A CASHLESS SOCIETY:

I think the reason we have not seen more bank runs lies in a current phenomena which couldn't have existed during the Great Depression. Most people, myself included, don't typically carry cash like days past. Our society, for better or worse, has grown accustomed to direct deposit, automated bill payments, and direct access to our checking accounts through debit cards. As our banks reel in the storm of massive de-leveraging, I can't help but think that our apparent lack of concern for our cash is a direct result of our disconnection from even the paper cash. It seems to have lost even the fiat value represented by the paper, displaced largely by the electrons actually exchanged in the system each day. Just my two cents.