Question

The total amount of US currency in circulation divided by the US population comes out to about $3,500 per person. That is more than most of us carry. Where is all the cash?

Answer 1

Some of the money is stored in banks - those are called reserves. Banks usually keep a portion of the money that people deposited in their reserves.

Additionally, some cash is in the cash register - every cash register has some money to be able to give people change - so this is money owed by companies, and not by private people

Answer 2

The total amount of US currency in circulation divided by the US population comes out to about $3,500 per person. That is more than most of us carry. The rest of the cash are in banks.