Money in bank vaults are insured and recently 200k is also insured by FDIC so even if the entire financial system crumbles, 200k is guaranteed by the government

Money in bank vaults are insured and recently 200k is also insured by FDIC so even if the entire financial system crumbles, 200k is guaranteed by the government. When a robber steals money from a bank vault, its not like one day you see. oh shit look at that someone must have stolen my money from the bank. = If someone even robs your safety deposit box, i'm pretty sure that it's insured. Also when markets collapsed people did and still do bank runs and convert their paper money to gold. So it's not like the dollar hasn't experienced a lack of confidence before. Currency is all about confidence.