Money burning

Joss paper burned around the Ghost Festival

A receipt from the Albany, New York Comptroller’s Office certifying that $5,000 from the Bank of Whitestown had been legally destroyed by burning on 15 November 1842.

Money burning or burning money is the purposeful act of destroying money. In the prototypical example, banknotes are destroyed by literally setting them on fire. Burning money decreases the wealth of the owner without directly enriching any particular party. However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.

单词	Burning money
释义	Burning money 英语百科 Money burning Money burning or burning money is the purposeful act of destroying money. In the prototypical example, banknotes are destroyed by literally setting them on fire. Burning money decreases the wealth of the owner without directly enriching any particular party. However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.
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