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MEDIA CONTACT: Catherine Spilos 727.447.4992 x201
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FOR IMMEDIATE RELEASE

INTERVIEWS AVAILABLE, LIVE AFTER 10AM EASTERN

Currency Expert Andrew Gause says, “Show me the money!”


Are You Ready for Cash Rationing?

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Anticipated plunge may force banks to ration paper dollars

Some of us may remember the agony and frustration of “gas rationing” back in the 1970’s when chaos in the Middle East triggered nationwide gasoline shortages and unbearably long lines at the gas pumps.


Without ready access to gasoline, millions of irate motorists were forced to drastically alter their lifestyles, cancel vacations, mothball their vehicles, form up carpools or ride bicycles to work. 

Currency expert Andrew Gause says that similar frustrations could be awaiting consumers in the months ahead -- not from gas shortages, but from CASH SHORTAGES in the nation’s banking system.

“Don’t be surprised at “CASH RATIONING” when you try to cash a check or withdraw funds,” says Gause. “Banks may also shorten their hours of operation to reduce requests for cash at the teller windows.”

Why is the US banking system strapped for cash?

Gause says the first thing to realize about money is that 96% of America’s dollars are ELECTRONIC, not paper.

“This means that for every 1000 dollars in a checking account, only 40 exist in the form of paper dollars,” says Gause. “The remaining 960 dollars are just computer blips and can’t be given out by tellers or ATM machines in the form of cash.”

Gause says ongoing problems stemming from the sub-prime mortgage meltdown have shaken consumer confidence and will continue to do so throughout 2008. 

Uncertainties about the solvency of major financial institutions have already caused many consumers to close out savings accounts and take physical possession of their cash,” says Gause. “Such withdrawals have reduced the amount cash in the banking system.” 

Gause says that further stock market plunges could also drain paper money out of the banks and see it relocated under millions of mattresses.

“A war with Iran could also create panic withdrawals from banks,” says Gause. “Iran’s announcement outlining their decision to abandon dollars for euros in oil transactions will also shake the banking system and the economy.”

Gause says America’s banking system is the shakiest it’s been in decades.

“For the first time ever the banks have negative “free reserves” – meaning US banks have LESS THAN ZERO money to loan into the economy,” says Gause. 

“For many reasons, right now is a horrible time to have your cash sitting in a bank account,” says Gause. “Taking some out now may help ensure you won’t be inconvenienced down the line by long lines and rationing restrictions.” 

SAMPLE INTERVIEW QUESTIONS

1. You say that it’s possible we may see “cash rationing” in the year ahead. What events could trigger cash rationing?

2. You say that 96 percent of all money is now electronic. Is this good or bad?

4. The administration has approved a financial stimulus plan that will put a 600 dollar check in everyone’s mailbox. What does this accomplish? 

5. Will a war with Iran cause the economy to surge or sink?

6. For those with large amounts of cash in the banking system, what advice or comments do you have?

7. How can listeners get a free copy of your newsletter, “The World of Money.”

About Andrew M. Gause www.andygause.com

Andrew Gause is a foremost expert on the history of America’s monetary system.  A frequently invited guest on 100’s radio programs throughout the U.S., Andrew is the author of two books on the US monetary system: “The Secret World of Money,” and “Uncle Sam Cooks the Books,” and editor of “The World of Money” newsletter.
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Catherine Spilos 727.447.4992 x201, cs@theprgroup.com