4 ms·
This is essentially the opposite of reality. If someone steals your cash nobody gives a shit. No csi team goes hunting them down. Bank fraud on the other hand
by rhino369 11y ago
This is essentially the opposite of reality. If someone steals your cash nobody gives a shit. No csi team goes hunting them down.
Bank fraud on the other hand is the banks problem. If someone steals your money the bank makes it whole.
- mschuster91 11y agoHuh? I don't remember the Cyprese people who got their accounts drained by the government ever got their money back. With cash the cops would have to raid my apartment to get the money (also likely they wouldn't know about the money in the first place, so no cop raid there!).
- 9872 11y agoAnd there are countries in which the police would just shoot you and take your cash. That doesn't say anything about whether cash is better than electronic payments, it says don't live in such shitholes.
- rhino369 11y agoIf America was going to give a "haircut," they'd dilute the money supply instead of just taking 10% from banks. So yes, uncle sam can steal the money in your mattress without having access. Or the Fed could release a newDollar and only accept a certain amount of oldDollars. Russia (I think) has done that once or twice.
- guard-of-terra 11y ago"the Fed could release a newDollar and only accept a certain amount of oldDollars" 2/3 of oldDollar cash is stored outside the US by people who mostly can't enter the USA without visas etc. And those will be pissed royally. It would be not wise choice to piss off more people than your own population, however not never done by the USA.