Paper money= useless?

[Low-Eight]

In regard to my call, here's my calculations:
the metal equivalent for $100,000 is:

Platinum: 5.07 pounds

Gold:  6.03 pounds

Silver: 446.5 pounds

$1 bills: 220 pounds

$5 bills: 44 pounds

$10 bills: 22 pounds

$20 bills: 11 pounds

$50 bills: 4.4 pounds

$100 bills: 2.2 pounds

That’s calculated at 1 us federal reserve note= 1 gram

blog post: http://anaphilo.wordpress.com/2009/08/04/paper-moneyuseless/

[MacFall]

I can't think of a single scenario where anyone would be carrying $100,000 in cash. That's exactly the sort of thing that bank notes are for. But for normal, day-to-day transactions, metal would be just fine. And I think that in a full reserve banking industry, banks would be reluctant to print certificates for small amounts without charging additionally for that service, and people would contrawise be reluctant to pay in addition to their warehousing fee for the dubious convenience of having a wad of bills instead of a few coins.

[fatcat]

I don't get it?

This guys saying money is useless because its heavy?

What about credit cards, bank transfers, cheques, etc?

Who the fuck buys anything worth $100,000 in cash besides professional poker players and drug dealers?

There are a number of reasons why actual metal currency is unideal, not least of which is coin shaving and forgery.

It would seem to make much more sense that if fiat currency was disbanded, digital currency transaction would become near universal, perhaps on a combined metal index to back it up with.

[Level 20 Anklebiter]

Okay, kiddos, economics 101. Supply vs demand equals money price. Money equals a universally accepted form of exchange which is in itself a commodity. Yes, even paper money is a commodity so long as it follows Say's Law (which that for any supply of commodity, there will be a demand for that of another commodity). It's a weird when folks don't grasp this most basic idea. X_X

[TimeLady Victorious]

if there are people out there who no longer wish to have federal reserve notes they can send them to me, I'll take them >

[Level 20 Anklebiter]

if there are people out there who no longer wish to have federal reserve notes they can send them to me, I'll take them >

This.

[Andy]

if there are people out there who no longer wish to have federal reserve notes they can send them to me, I'll take them >

This.

3rded.

[Diogenes The Cynic]

Even during the Weimar republic, paper money was useful. People used the marks they had for wallpaper, heating, etc.

[Manuel_OKelly]

Not to mention that the gold is only four pounds heavier.