[kopite]

Originally Posted by Moppel

What if happens if 50% of people go to the bank and take all their money of their account? Exactly.....

You can't.

[DeluxeBerry]

The bank goes under and they have 99 years to pay you up to 250k. That's how it actually works. Aka you're dead when they pay up.

[GMT]

Each country has its own banking rules. I can only talk about the UK.

[Douglas.Curtis]

Originally Posted by GMT

Why would you carry billions through an airport? You don't even hold billions in cash. You hold it in a secure account that can be accessed from anywhere.

Funny. Up until bitcoin, your comment was the only viable option.

Yes, the word intrinsic is wrong for BTC value. I'm afraid my memory retrieval is down and I'm unable to find the correct word. lol I appreciate the chuckle.

[MJPassion]

Originally Posted by Moppel

What if happens if 50% of people go to the bank and take all their money of their account? Exactly.....

Originally Posted by GMT

The bank goes under and the govt pays the account holders out. Look up northern rock UK.

Bitcoin has no intrinsic value at all. Just because it costs money to do something, didn't give that thing intrinsic value

Why would you carry billions through an airport? You don't even hold billions in cash. You hold it in a secure account that can be accessed from anywhere.

I reiterate,...
Read “THE CREATURE FROM JEKYL ISLAND” & you will KNOW how banking works.
Every bit of it is, & always has been, a ponzi scheme for the removal of wealth from the poor & middle class to the banking elite.

IF... citizens started a bank run only about 10% could draw the cash that they have in the entirety of the banking ledgers, world wide! Possibly even less since most of the printed cash is in circulation.

ALL banks, the world over, practice “fractional reserve banking”!!!

[MJPassion]

Originally Posted by GMT

Each country has its own banking rules. I can only talk about the UK.

Nearly every bank on earth is run by one family... the Rothschilds!

Last I looked there were exactly 3 banks that weren’t Rothschild ran.
Iran
N Korea &
Either Chili or Peru (it’s been a while since I looked).

[Douglas.Curtis]

Originally Posted by MJPassion

ALL banks, the world over, practice “fractional reserve banking”!!!

Very good point.

[GMT]

Please conspiracy theories are meant to be for mental gymnastics and entertainment. When you start to believe in them, you sound a little crazy. People write books on everything from magic kids like Jesus and harry potter to ancient aliens collinating the earth. It doesn't make it true just because there's a book about it. I understand how banking works, I understand the adjustments to the rules that was negotiated during the crisis. The UK govt owns 2 banks at the moment. I understand the recapitalisation of the banks going on at the moment. Please don't start telling me that I don't understand things I learned 30 years ago and made a living working within the parameters ever since.
Most people get it, and most need the system to keep on going just to survive. If you want to farm your own food, make your own clothes and do without medical care, then the hills are there for you. Most of us want a better life than that though, and for that we need the banking system to keep functioning. Not to mention how much easier it is than trying to barter part of a pig for a loaf of bread.

[geneva_sativa]

Funny how the people pull the conspiracy, race, and/or pretty much any other kind of bullshit card you can think of, when the status quo gets called out for their fraudulent practices.

[DocTim420]

Hmmm, when the Feds measure USA's money supply there is "cash" and, then there is "cash".

If you want to count JUST greenbacks & coins then the "money supply data" called "M0" is what you want to investigate (rounded to the nearest Million).

If you want to count all greenbacks plus bank deposits (let's call these "digital dollars" since they are not in the form of "paper money"), then follow the data for M1 (rounded to the nearest Billion).

If you want to include individual's savings & money market balances (more "digital dollars") then follow M2.
If you want to include institutional money (more "digital dollars") then follow M3.

Issue...the cash reserve (amount of cash banks are required to have on hand) is different for each country. USA banks are required to have 3% (that is--3% of customer deposits must remain in cash and not be loaned/invested out) while Euro area banks have a 1% cash reserve ratio.

In the USA, the Federal Government is the biggest issuer of "digital dollars" (all those entitlement payments are direct bank deposits--no cash is ever directly given).

Moral of the story: There will never, never be enough "cash"--lots of "digital dollars", but not enuf dough (period).