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> The bank makes a business claim that they can redeem ALL of the green paper back to everyone at the same time. They never claimed this. Everyone has known ab
by lukas099 4y ago
> The bank makes a business claim that they can redeem ALL of the green paper back to everyone at the same time.
They never claimed this. Everyone has known about bank runs, fractional reserve banking, etc. for a long time.
- HervalFreire 4y agoPeople know about it. But in principle the bank is suppose have cash redeemable. Would you ever put money in a bank that you know for a fact will never be able to redeem your money ever??