/biz/ - Business & Finance

>>18188966

> B-BUT MUH FEDERAL INSURANCE

Anon, don't be silly. You have the same amount of money whether you have it in cash or in a bank account.

You are in fact in a much, much less secure position having it in the bank in fact, as the fed can only insure 2% of all deposits, unemployment is likely to rise to around 30%, it's almost certain that you will not be in that 2% even if nobody participates by next month.

While you have cash you can spend it anyway you want and redeposit it at your leisure. When your money is in the bank, they can and perhaps will impose draconian spending limits, essentially semi-bailing you in, and that's without legal changes that our desperate state may impose. You don't want to be caught in a bail-in for a failed bank, do you? In Lebanon their banks have already collapsed and they can only take 100 bucks a day out of THEIR own money. Imagine that?

Just take it out now, ya big dummy!

>>17909888

Gonna shamelessly bump as I want the whole board to see this.

>>17883434
What fucking difference will it makes no that there's zero reserve requirement anyway?

WE CAN DO OUR OWN QUANTITIVE EASING NOW ANON