China admits money laundering

[dawp]

China is literally cleaning its money to stop the spread of coronavirus

The money will be treated with ultraviolet light or high heat, and then sealed away for up to two weeks before it's reintroduced.

qz.com

if that what it takes to stop the spread.

 

[shortylickens]

in all seriousness would it not be easier to simply make new money?

 

[K1052]

in all seriousness would it not be easier to simply make new money?

From what I've read they're doing that as well. It's probably not physically possible to print enough currency to replace everything that comes back to the banks.

 

[uallas5]

I'm not getting the two weeks part. It takes upwards of two weeks to show signs of illness after a human is infected. I've read no where that the virus can live outside the body for two weeks.

OK answered my own question. So two weeks might be overkill but better safe than sorry I guess.

New Study Indicates How Long Coronaviruses Can Survive on a Surface

If the new coronavirus is anything like its family members, a new study suggests it could survive on inanimate objects for well over a week. According to the United States Centers for Disease Control and Prevention (CDC) it's "currently unclear...

www.sciencealert.com

 

[MagnusTheBrewer]

From what I've read they're doing that as well. It's probably not physically possible to print enough currency to replace everything that comes back to the banks.

Very little cash money returns to the banks.

 

[kage69]

I've seen cultures grown from a single touch of random fivers in the goo, cash really is disgusting. Up there with public touchscreens, doorknobs, hotel TV remotes, etc.

Sounds like a good step China, bravo. This will probably save lives.

 

[quikah]

Mostly for the old people. Pretty much everyone just uses Wechat or Alipay to pay for everything using their phones IME.

 

[Jhhnn]

Very little cash money returns to the banks.

That's not really true. Dunno about China, but the amount of American currency in circulation has gone up, particularly $100 bills. It's near constant for other denominations that get swapped around like spit at an orgy by consumers, banks & the FRB.

Circulation of Money - Dollars & Cents: Fundamental Facts About U.S. Money

As the nation's central bank, the Federal Reserve is responsible for distributing currency to depository institutions and processing the cash that comes through the Federal Reserve Banks.

www.frbatlanta.org

 

[ch33zw1z]

Physical money is indeed filthy. Good for China making this effort

 

[zinfamous]

Physical money is indeed filthy. Good for China making this effort

also lots of cocaine residue, so....

 

[HomerJS]

Why bother? According to Trump virus will vanish in April due to the heat.

Trump news – live: Trump says coronavirus will go away in April because of 'the heat'

Crisis averted! https://www.yahoo.com/news/trump-news-live-president-plots-115300550.html

forums.anandtech.com