So, can you pay your bills?
I have no idea whether this will happen or not. But if it does, I’m wondering how they’ll blame Trump and the Mega MAGA Republicans.
Someone is itching for rebellion.
Never heard of him
Such an event would be unlikely, but not impossible. Back in 1933 FDR declared a “bank holiday” and ordered all banks closed for four days.
https://en.wikipedia.org/wiki/Emergency_Banking_Act
Hey, dude, go ahead. Encourage more runs!
Sure, your money is not your own! Everything is fine, being 3 out of the 4 biggest bank failures happened in the past year.
If my VISA card doesn’t work, the State of Florida will take a 7% sales tax haircut for every dollar I can’t spend.
Not too many people I know stick over $100,000 in a bank.
It mainly occurs for ordinary people on their house sales.
If a company has payroll of over $100,000 in a week, it probably has done due diligence already.
The premise of the article is silly.
Banking is largely automated.
My VISA and ATM transactions are automated.
The FDIC will stuff my bank’s ATMs, or I will use a networked ATM.
My bank’s VISA and ATM software has no idea if my bank is solvent or insolvent.
So, after more than ten years of almost 0.00% interest rates in the USA, people are moving their cash savings into investment grade debt that actually pays 4%-5%.
Why should that surprise anyone?
USA investment grade interest rates are STILL below the inflation rate in most cases, so it is just cash sloshing around the financial system.
Want further ruin confidence in the US banking system?, Just do it and find out.
No Big Deal!
Our communist masters know that the pathetically servile and indolent Aamerican people will just continue to roll over and spread their collective cheeks...