“Demand for $100 bills has jumped since 2008 as nervous Europeans stuff them under the mattress, providing vivid proof that the world still loves the dollar and confirming the benefit to the US of the currency’s status as a global reserve.  The amount of dollar cash in circulation has risen by 42 per cent in the last five years, with a main reason being demand from Europe, according to a top US Federal Reserve official.  According to one set of estimates by the Fed in Washington, the share of US currency held abroad has risen from about 56 per cent to nearly 66 per cent in the last five years.  It amounts to a $19bn-a-year gift from the rest of the world.”

http://www.economicpolicyjournal.com/2013/04/where-nervous-europeans-are-really.html

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