How You Can Win the Government's War on Cash

Most point to the bankruptcy of Lehman Brothers as the main trigger of the 2008 financial crisis. Perhaps equally as important, but certainly not as well-covered, is what happened the following day... That's when Reserve Primary Fund, one of the original and largest money market funds, saw its $785 million of Lehman holdings revalued to zero. Naturally, redemptions soared. The fund's net asset value fell from $1 to $0.97 - a rare case of "breaking the buck," and redemptions were frozen for seven days. As people ran for the exits from the 2008 meltdown, eventually almost 25% of money market assets sought redemption. Liquidity instantly went from a waterfall to a trickle, and the financial system was pushed to the precipice. With the crunch on, cash suddenly became extremely valuable. That was duly noted by central banks the world over. And those frozen redemptions give us some clues as to what lengths the authorities will go in order to achieve their aims; they're more determined than ever to do away with physical cash. We now have some compelling evidence that central bankers are pushing to eradicate physical cash completely - and it's not for your benefit. Here's what you need to know, and how to fight back right now... Tags: Cash , Government's war on cash , U.S. Dollar , win the war on cash To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post How You Can Win the Government's War on Cash appeared first on Money Morning - We Make Investing Profitable .