What kind of economist has a million dineros ? What kind of economist leaves a million dineros just sitting in a crummy checking account? Something does t seem to add up right here???
Think just a little... if you had to liquidate all your brokerage accounts like Schwab, Vanguard etc... if you look carefully, they are not held in CASH but in a Treasury fund that has $1 equivalents. So if you're thinking the jig is up and you liquidate your funds, your stocks and even your "gold shares" and now have cash.... what to do with it. Well you move it into as liquid a position as you can. That would be insured cash checking accounts... and now he's given us a big hint that he thinks THAT isn't even going to be liquid because of what? Why take money out of a bank unless you thought the bank would somehow NOT have your money or not give you access to your money.
I wouldn't question his placement of the cash but I would question THE WITHDRAWAL of his cash.
That's what I'm doing in weekly withdrawals to build up a little cushion. I'd advise others to just maybe get 1 or 2 months of cash and maybe find a nice little niche for it, just in case we have a bank holiday. Remember that safety deposit boxes are also not your property, the contents can be held till the bank decides to open its doors.