4 ms·
You have more money in banks than you have insured? You trust the credit of US government more than any bank?
by jsprogrammer 11y ago
You have more money in banks than you have insured? You trust the credit of US government more than any bank?
- samclearman 11y agoGiven that a US default would likely cause the collapse of the US financial system and possibly the entire world's financial system, it makes perfect sense to trust the US government's credit over that of any bank.
- jonknee 11y agoAnd the US Government has a big advantage over banks--they can print more USD.
- jsprogrammer 11y agoBanks can 'print' more USD so long as they find a counter-party.
- jonknee 11y agoIf you own the bonds you are the counter party.