All who oppose me are terorists
So the little man now declares himself king
Will the Canadians stand by, or do the sensible thing and pull all their cash from the “banks”?
“Will the Canadians stand by, or do the sensible thing and pull all their cash from the “banks”?”
Interesting thought exercise. The bulk of people’s money is invested in markets. To take the money out they’d have to sell their securities and incur taxes. If a “run” occurs on banks, people removing savings and checking as cash, the banks would all have to close their doors as there isn’t nearly enough “cash” in existence to cover the withdrawals. There hasn’t been enough actual printed money to cover the amount of money in existence probably since about 1970.
Quantitative easing, which is usually defined as “printing” money, hasn’t actually printed any cash in decades. Someone clicks a mouse and the funds “appear” in a central bank’s account. If there’s ever a huge solar flare or an EMP we are all screwed.