Is cash king? In times of trouble, people have been known to hoard currency as a financial security blanket. Now, the status of money, passed from hand to hand just like the virus and causing newfound fear, has changed — perhaps for good. By zkaram
In this Saturday, May, 2, 2020, photo, a man uses banknotes to pay for his purchases at the mall in Basra, Iraq. The coronavirus pandemic has reawakened debate about the continued viability of what has been the physical lifeblood of global economies: paper money and coins.
From the supermarkets of the United States and Japan to the shantytowns of Africa to the gas stations of Tehran, “Currency represents value that we can hold in our hands. Cash provides a way for us to translate a day’s work into something tangible and easily traded,” Cohle says.
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