Americans don't want nor need more TAXES, so what happens to the banks when people withdraw their money? The moronic liberals never do think that far ahead. LOL
Don’t say “tax” - you’ll get John Roberts all excited ......
You can withdrawal your deposits. But only for the new orange currency that redeems at the rate of ten greenbacks for one orange slice. Greenbacks are being recalled at that rate universally. It will cripple the drug world.
“Americans don’t want nor need more TAXES, so what happens to the banks when people withdraw their money? The moronic liberals never do think that far ahead. LOL “
I suspect that “the people” have relatively little money in banks, other than 401k’s. Big companies have no choice but to keep money in banks as doing otherwise would be an accounting and logistical nightmare. It might also be illegal not to keep it in banks. So, this will be a tax on companies.
The Fed is a private corporation that has too much power. Congress needs to reassert itself and take over the Fed.
“,,,so what happens to the banks when people withdraw their money?”
The Feds will NEVER allow a run on banks. They’ll suspend withdrawals, close banks (bank holiday)and limit amounts that can be removed by transaction.
If you have not already removed your money (or a substantial portion of it), and converted it to barter bait, you will be left holding the (empty) bag, I’m afraid.
Home mortgage refinance opportunity perhaps?
There is plenty of other money to lend. They don’t want deposits, obviously.
Money no longer comes from depositors, simple as that. Why should they pay interest when they have all the money they need?