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To: Fred Ragan who wrote (1)10/25/1998 7:34:00 PM
From: Caroline  Read Replies (1) | Respond to of 6
 
Fred, well done, but missing a logical piece. What good is cash ("cash is king") in an economy where most of the headlighted deer don't have it?

In your disaster scenario, cash would become worthless because too few people have it. The economy goes barter at that point.

If 5% of the people are "smart" enough to withdraw their funds, 95% have no cash, so they're not working on a cash basis anymore.

CB


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