4 ms·
Can I just open a bank account at the federal reserve directly rather than worrying about bank failure?
by photonbeam 4y ago
Can I just open a bank account at the federal reserve directly rather than worrying about bank failure?
- dexter0 4y agoIn time.
- paxys 4y agoNo but you can buy government bonds.
- neon_electro 4y agoWould be nice if we could open an account at the local post office: https://en.wikipedia.org/wiki/Postal_savings_system https://en.wikipedia.org/wiki/Postal_savings_system
- anon291 4y agoRecall that a dollar bill is a promise by the federal reserve to pay a dollar. There is no guarantee that that promise holds.
- photonbeam 4y agoThat feels circular, what is a dollar then
- piperswe 4y agoIf the promise doesn't hold, then the American financial system comes crashing down and you have bigger worries than that.