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With #1, you count money in a checking account as cash right? Even though it's technically a line of credit that happens to have an insurance policy attached?
by MichaelBurge 4y ago
With #1, you count money in a checking account as cash right? Even though it's technically a line of credit that happens to have an insurance policy attached?
Or do you mean strictly physical cash under the mattress(or in a safe)?
- toomuchtodo 4y agoCash in a deposit account is entirely reasonable. Money market funds a bit less so. If FDIC fails, the fiat in the database won’t matter.
- landemva 4y agoWhen the debit card does not work due to network failure or bank holiday, crisp paper money will still spend.
- ironlake 4y ago>Even though it's technically a line of credit that happens to have an insurance policy attached? Dear god. If your federally insured bank goes belly up and the federal government doesn't fulfill it's promise to make you whole, what will make the federal paper under your mattress have any value? Libertarianism is a cult.