So, Warren Buffet is selling bank stocks for cash because of an impending crash in business real estate.
Maybe that's not the best way to summarise the situation, but it hits a bunch of fallacies.
First off, once someone gets into the millionaire class, they tend to make more money doing nothing than most people do by working. Especially if they are in the Warren Buffet league.
Next is the dislike of fiat currency for something commodity based, which is loaded with fallacies. First, commodites ARE volatile: just do a search on "economic crash commodities" for an eye opener. The Panics of 1869 and 1893 saw quite a bit of controversy around gold and gold reserves. Fiat currency is based upon the stability of the issuing body (usually national, but the European Central Bank issues the Euro, so multinational and definitely governmental).
But the bottom line is that currency is basically a tool for commerce. The best example of this comes from Terry Nation's show Survivors from the 1970s, where a man has a suitcase he is very protective of. He dies during the night and we find out that its full of paper money, which is pretty much useless since most people have died from the plague. The world of Survivors is the libertarian's dream.
Seriously, while many people don't like central banks, they do a fairly good job of keeping the economy running along. Of course, any realistic discussion of avoiding crashes requires that we talk of things that the right likes to term "socialistic" because there is governmental intervention in the economy and people are supposed to play by the rules (e.g., competition laws).
