The Dollar and the Banking System

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John Rubino: You should always have cash on hand because it's the liquid thing that gets you out of trouble in some kind of a crisis. If you've got cash you can manage in a situation where say there's a natural disaster, cyber attack or something like that. The downside of holding a lot of cash is that it's losing value. Like last year if you held a bunch of cash it got 10% less valuable in one year. It's something that everybody recognizes almost everybody will accept.

A centralized digital currency combined with the consolidation of a few mega banks due to the recent failure of regional banks, are two trends that could lead to the end of traditional savings and checking accounts. We speak to a former Wall Street analyst about the potential hazards of a Fed controlled digital currency. Get the facts first on Morning Wire.

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