4 ms·
They can't possibly do that with a bank account though? In the sense that a collapse would see you get cents in the dollar back, hopefully the taxpayer pays the
by A2017U1 7y ago
They can't possibly do that with a bank account though? In the sense that a collapse would see you get cents in the dollar back, hopefully the taxpayer pays the rest if you are lucky.
You can pay them for a safe deposit box and they can properly _hold_ your money if you want, but that money won't be worth much in 30 years.
Unless I'm wrong and some banks provide a fully backed savings account? Doubt it would be worth the effort for them.
- gruez 7y ago>You can pay them for a safe deposit box and they can properly _hold_ your money if you want Depends on what your threat model is. A safe deposit box is safe from bank collapses/bail ins, but not against theft. >but that money won't be worth much in 30 years. In that case you'd probably be stashing gold rather than bills. >Unless I'm wrong and some banks provide a fully backed savings account? Doubt it would be worth the effort for them. because right now there's no demand for it. if there was a period of zero/negative interest combined with low confidence in banks, I'm sure that non-fractional reserve banks would pop up. Either that or people stash their money overseas.
- tonfa 7y agoThe FED is not very happy about narrow banking so far: https://www.bloomberg.com/opinion/articles/2019-03-08/the-fed-versus-the-narrow-bank https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe...
- ohiovr 7y agoI was told I could not put paper us bills in my safe deposit box. Bank was Chase dunno if others are the same.