> Cash is money. Cash is immune to bank runs. > If you have $10,000 then you have $10,000. Playing devil's advocate: that's as long as the denomination doesn'

> Cash is money. Cash is immune to bank runs. > If you have $10,000 then you have $10,000. Playing devil's advocate: that's as long as the denomination doesn't change. Once it changes (for instance Cr$ -> NCr$ -> Cz$‎ -> NCz$‎ -> Cr$‎ -> CR$‎ -> R$, and I lived through most of these changes), and you're outside of a conversion grace period (when you can take your cash to a bank and exchange it for new notes), your cash is worthless; if I find an old Cr$ bill stashed somewhere (I probably still have some), they're not worth much more than the paper they're printed on. If your money is in a bank, on the other hand, it will always be converted automatically and transparently. (On the other hand, I also lived through the infamous "confisco da poupança" which froze most of the money in everyone's bank accounts, so I can clearly see the importance of having money outside of the reach of banks. On a third hand, I also lived through the hyperinflation times, and know that having too much of your money not deposited in an interest-bearing bank account or other similarly good investment means it will lose its value quickly.)