Add the following:
Americans have about $11.1 trillion in their “digital” bank accounts. But there’s only $1.35 trillion of “paper” money in circulation.
According to Zero Hedge, $100 bills account for 80% of the “paper” money in circulation. If the government got rid of the $100 bill, there would be just $271 billion worth of “paper” money…or one “paper” dollar for every 41 “digital” dollars.
If you’re going move some cash outside the digital financial system, do it soon. If you wait until other folks catch on to the government’s War on Cash, it may be too late.
So – what happens with large bank runs when the total amount of paper money is only 12% of the deposited “dollars” in the bank? They literally cannot come up with enough paper money to satisfy everyone even in just a fairly substantial bank run.