if all the banks go broke, what happens to all that cash?
At the point where the currency no longer has value, we are all indeed screwed.
But I think you are having a critical misunderstanding of what I’m trying to say which is: If the bank is broke, closed down, ATMs shut down, FDIC “in suspension” (or whatever you’d like to call it)....in short...a “bank holiday”....then obviously you have a problem.
Ahh, but see, I am talking about GREEN cash. Not electronic cash. GREEN cash. In your hand. Inside the bank, your “cash” is blips. Outside the bank, in your hand, it has been de-blipped. Inside the bank, it isn’t really cash, it is only CREDIT with an assumed ease-of-conversion to cash. Should that assumed ease-of-conversion suddenly disappear, as you imply, it isn’t cash at all. “Cash in the bank” is under 99.99% of circumstances, readily convertible to cash, and we never even think about it. What about the other .01%?