Digital currency vs cash is not just a technology debate — it is a financial risk question.
Host Tom Wheelwright sits down with economist Professor Jay L. Zagorsky, author of The Power of Cash, to explain why physical money remains essential even as digital payments and central bank currencies expand. Governments and financial institutions are pushing toward fully digital systems, but removing cash changes how individuals store wealth, access money, and maintain financial independence.
In this episode you will learn:
- Why cash protects purchasing flexibility during crises
- How digital systems create systemic vulnerabilities
- The relationship between privacy and money
- Why businesses still need cash access
- How policy decisions affect financial control
Wheelwright connects these ideas to real-world financial strategy. Entrepreneurs depend on liquidity, optionality, and reliability — and cash provides all three. Zagorsky explains that electronic payment networks can fail, banks can restrict access, and regulations can tighten, but physical currency remains immediately usable.
As economies digitize, the structure of money is changing. Business owners and investors who understand the balance between digital convenience and financial independence will be better prepared for disruptions, policy shifts, and economic uncertainty.
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00:00 – Intro.
02:00 – The Calamitous Global Battle: Digital vs. Physical Currency
06:00 – Hoarding Cash is NOT the SOLUTION; Do This Instead!
08:52 – De-Banking: Can the Money Disappear?
13:25 – What you should do.
16:58 – The Pros & Cons
19:40 – Why Businesses & Governments Make Cash Challenging
26:10 – Problems of a Frictionless Society
Looking for more on Jay L. Zagorsky?
Book: “The Power of Cash”
Website: https://www.thepowerofcash.com/
Twitter/X: @Prof_Jay_Z
LinkedIn: https://www.linkedin.com/in/jay-zagorsky-58a90825a
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