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People can learn how to use Treasurydirect.gov instead of using their bank as a lousy bond broker. Inflation protected bonds, that you can buy only $10k a year

People can learn how to use Treasurydirect.gov instead of using their bank as a lousy bond broker. Inflation protected bonds, that you can buy only $10k a year of are some of the highest yielding risk free investments that exist. Banks should just make money off fees and hold short duration Treasury bills only. Other institutions that have LPs should lend to businesses, students and home owners.

tempestn 4y ago
But then you don't have the convenience and liquidity of a bank account. The system works because the bank can invest the aggregate deposits of all depositors and still be ready to cash people out as needed (of course, barring a situation like this one, which is what the deposit insurance is for).
- xthrown1 4y ago
  The majority of people don't need daily bank accounts. The only reason why we are using them is because to dollar notes have not kept up with inflation. A $500 bill from 1900 would be a $17,500 note today. Two of those notes provide more liquidity than the majority of bank accounts in the US.
  - BlueTemplar 4y ago
    Don't underestimate the risk of getting robbed of your savings.
    - xthrown1 4y ago
      My house has been broken into fewer times than the number of bankruns in the last week.
      - mtrower 4y ago
        Perhaps in part owing to the fact that people don’t generally keep hefty sums of cash in hand? Anyway, how are you expecting to transact digitally with your paper notes?