pull down to refresh

40 sats \ 2 replies \ @Undisciplined 22 Jan \ on: China 🇨🇳 is busy at the printing press 💵 bitcoin_beginners
My impression is that holding lots of cash reserves is common in East Asia. Is that correct?
If so, this is the easiest way to tax the people.
write
preview
27 sats \ 1 reply \ @south_korea_ln 23 Jan
Not that common anymore. Not in Korea, and even less in China. Or did you mean, "cash in the bank" kind of cash?
reply
0 sats \ 0 replies \ @Undisciplined 23 Jan
Thanks, I did mean physical cash.
I recall reading about the Japanese tendency to hold a significant share of their net worth in physical cash and how it was common throughout East Asia to a lesser degree. That was a while ago, though, so I'm not surprised to hear that it's changed.
reply