I am aware of at least one person who has removed all cash from hands of others and is now burying cash in various places. He is rolling up $20 bills and securing in coffee cans. He figures $20 is better as when the economy collapses, anything larger will be difficult to exchange.
Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor.
Source: Giant Write-Down Is Seen for Merrill - New York Times