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Started By
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What if everyone globally withdrew their money from their bank?
Posted on 9/6/23 at 2:02 pm
Posted on 9/6/23 at 2:02 pm
And demanded to be paid cash. Would this fix the global economy considering we’re giving most of our money to idiots that waste our money worse than a meth addict?
42
Posted on 9/6/23 at 2:03 pm to mattchewbocca
Total economic collapse
Posted on 9/6/23 at 2:03 pm to mattchewbocca
All the banks would collapse and most people would only be able to have ~10% of their money due to fractal reserve banking. This would lead to a complete and total economic collapse.
Posted on 9/6/23 at 2:03 pm to mattchewbocca
quote:
Would this fix the global economy
No.
Posted on 9/6/23 at 2:03 pm to mattchewbocca
Yes. this is the only, easy, logical solution to "fix the global economy"
Posted on 9/6/23 at 2:03 pm to mattchewbocca
banks don't have the cash, they loan it out.
Posted on 9/6/23 at 2:04 pm to Hermit Crab
5% or more interest is a pretty good return.
This post was edited on 9/6/23 at 2:05 pm
Posted on 9/6/23 at 2:05 pm to mattchewbocca
Banks wouldn't allow it. If they did, the economic system we currently recognize would be shattered. Probably would lead to another war, as well. Not sure who would be fighting, but with that much instability in the world, it's bound to happen.
Posted on 9/6/23 at 2:05 pm to mattchewbocca
Most local banks usually only have about $10,000 (or less) of cash on hand.
What would probably be better at wrecking the global economy would be if everyone just stayed at home for 6 months (don't go anywhere) and stopped paying all their bills and don't buy a damn thing.
What would probably be better at wrecking the global economy would be if everyone just stayed at home for 6 months (don't go anywhere) and stopped paying all their bills and don't buy a damn thing.
This post was edited on 9/6/23 at 2:08 pm
Posted on 9/6/23 at 2:05 pm to mattchewbocca
Global economy would be a fraction of its current size is banks weren't able to lend money. Good luck paying cash for cars and houses.
Posted on 9/6/23 at 2:05 pm to mattchewbocca
The fed would cut you off and then print a bunch more
Posted on 9/6/23 at 2:06 pm to mattchewbocca
quote:Most folks wouldn’t have tree fiddy.
What if everyone globally withdrew their money from their bank?
Posted on 9/6/23 at 2:06 pm to mattchewbocca
quote:
And demanded to be paid cash. Would this fix the global economy considering we’re giving most of our money to idiots that waste our money worse than a meth addict?
Man this place is dumb as hell lmao
Posted on 9/6/23 at 2:06 pm to mattchewbocca
Watch It's A Wonderful Life for a lesson as to why this wouldn't work
This post was edited on 9/6/23 at 2:07 pm
Posted on 9/6/23 at 2:09 pm to Ostrich
quote:
Total economic collapse
Teach me
Posted on 9/6/23 at 2:10 pm to mattchewbocca
If by “fix the global economy” you mean send us back to the Middle Ages, then yeah, it would “fix the global economy”.
Posted on 9/6/23 at 2:12 pm to mattchewbocca
So banks “pretend” to have money they don’t have? Is there many people in the world with money they think they have with trillions “digital currency floating around? What does this mean exactly?
Posted on 9/6/23 at 2:15 pm to mattchewbocca
So it’s not the banks that are the problem? Didn’t they just literally get bailed out in 2008 for nearly bankrupting the entire world?
Posted on 9/6/23 at 2:15 pm to mattchewbocca
quote:
Teach me
Bank Runs Explained in One Minute - Youtube
Banks don't actually have the cash to withdraw everyone's money.
Posted on 9/6/23 at 2:16 pm to Suntiger
quote:
If by “fix the global economy” you mean send us back to the Middle Ages, then yeah, it would “fix the global economy”.
Let’s fricking do it
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