> As a general statement, that's just as much an assumption as the GP's claim. Where are the studies to back it?

Never in my life have I ever heard of anybody (other than criminals and a few mentally ill people) with a cash hoard. Nor have I ever known anyone to do this. I've never seen any newspaper article about anyone with a hoard. Never a magazine article profiling millionaires with cash hoards. No books about it.

And yet, it is apparently conventional wisdom that wealthy people hoard cash as a general rule.

Name one wealthy American with a cash hoard.