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re: What if everyone globally withdrew their money from their bank?
Posted on 9/6/23 at 2:58 pm to SantaFe
Posted on 9/6/23 at 2:58 pm to SantaFe
quote:
everyone just stayed at home for 6 months
They did this with the Covid fear mongering. All that did was make people more dependent on the swamp. Which was their goal
0
Posted on 9/6/23 at 2:59 pm to Obtuse1
quote:
I know there are a million subjects that "should be taught" but extremely basic economics should be one of them. The idea that there is a paper dollar behind every dollar in a bank account is something that should be extinguished by the age of 12 at most
So how does it work? I know they don’t have the money but how does currency today work cuz we’re still using paper currency as well as digital. So how do they determine a persons wealth?
Posted on 9/6/23 at 3:02 pm to mattchewbocca
What is it you think banks do with your money?
Posted on 9/6/23 at 3:04 pm to SantaFe
quote:This isn't true.
Most local banks usually only have about $10,000 (or less) of cash on hand.
Posted on 9/6/23 at 3:06 pm to mattchewbocca
quote:
What if everyone globally withdrew their money from their bank?
Most community banks borrow money based on the average of their balance of funds. If everyone withdrew their money the banks go under.
Posted on 9/6/23 at 3:08 pm to mattchewbocca
Is this a real question? Like really? How old are you?
Posted on 9/6/23 at 3:10 pm to mattchewbocca
No that’s actually not what happened in reality. It’s a good talking point for people but not really what happened.
Posted on 9/6/23 at 3:13 pm to LaLadyinTx
quote:
So shouldn't they have taken Economics by then?
Or at least American history!
Posted on 9/6/23 at 3:20 pm to Sp0728
quote:
Banking system is a bubble waiting to pop
And to think it only started in 1472. Gone too soon.
Posted on 9/6/23 at 3:20 pm to mattchewbocca
quote:
What if everyone globally withdrew their money from their bank?
We’d wait about 2/3 weeks and then go visit it in Ukraine?
Posted on 9/6/23 at 3:22 pm to mattchewbocca
quote:
What if everyone globally withdrew their money from their bank?
quote:
And demanded to be paid cash. Would this fix the global economy
Yes, if by “fix” you mean completely destroy it and user in an era of Mad Max Beyond Thunderdome , end of civilization as we know it, style dystopia.
If that’s not what you mean, then no, it won’t fix it.
Posted on 9/6/23 at 3:24 pm to SlowFlowPro
quote:
SlowFlowPro
There's a donkey kong kill screen coming up
Posted on 9/6/23 at 3:36 pm to mattchewbocca
Posted on 9/6/23 at 3:40 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?
Oh man, the irony is thick as a fall gumbo with this one.
Posted on 9/6/23 at 3:41 pm to mattchewbocca
Have you ever heard of this thing called the Great Depression? Look up how that started.
Posted on 9/6/23 at 3:45 pm to mattchewbocca
quote:Not going to be a good time. $100 trillion in IOUs trying to find a home in $5 trillion physical dollars.
What if everyone globally withdrew their money from their bank?
You would murder family members over a quarter. You could buy an island in the Bahamas for around $1,000.
Posted on 9/6/23 at 3:54 pm to mattchewbocca
There is about 1.5 trillion in US currency out in the world. Total US bank assets total about 30 trillion.
If it's going to happen, you better be one of the first to do it.
If it's going to happen, you better be one of the first to do it.
Posted on 9/6/23 at 3:57 pm to mattchewbocca
There would be a lot of people still waiting in line to withdraw funds and the bank would not have the money to give to them. Ironically, neither would the FDIC.
Posted on 9/6/23 at 4:07 pm to Sp0728
quote:
Banking system is a bubble waiting to pop
Stock market is also the biggest fraudulent bubble
House of cards. If there's ever a run on banks again, the stock market will crash, again.
Honestly, there will be pain for everyone, but I'm all for it. It will quickly separate the weak from the strong. Those adding to society from those taking. It's a societal reset that I think the human race clearly needs. It will happen eventually, no doubt about it.
ETA: not talking about a total economic collapse. That would likely bring about the end of the human race or get damn near it.
This post was edited on 9/6/23 at 4:12 pm
Posted on 9/6/23 at 4:24 pm to mattchewbocca
In this dumb scenario, do the banks get to take all the shite that you are financing? Like your house?
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