I’m not sure that Dave Ramsey said that people should use cash for privacy reasons, he probably meant that cash can help with personal spending discipline. However, cash is now absolutely necessary for privacy. You can also get discounts by paying cash.
During the Great depression people hoarded cash in their homes. It wan’t just because of bank failures, it was because of fear of confiscation. And of course gold bullion was in effect confiscated by FDR for paper currency trade in.
The government is trotting out that air head Suzie Orman to encourage people to keep their money in banks. Great, just sitting there for government confiscation.
She is no airhead. She is a serious, smart left-wing lesbian. She is also a bald-faced LIAR. She has for years told people to invest the majority of their money in stocks and mutual funds, as she did. In reality, 95% of Orman's liquid investments are in BONDS.
Of course he did not and you nailed his reason.
This gov't is looking at any and all approaches to confiscate our wealth. This Financial Reform Bill gives them the tools to monitor what we have. They will be able to "calculate" how much cash we might have on hand, simply by looking at pay checks, credit cards and what the average person in that neighborhood spends. It is very scary what the government can do and how they can "fill in the blanks" and "connect the dots."