[Woodsie1]

I had a wonder to myself if all the people in the world wanted to withdraw all their money from the bank,would there be enough cash to do it?

I reckon no.

[Tamara tamara]

Originally Posted by Woodsie1

I had a wonder to myself if all the people in the world wanted to withdraw all their money from the bank,would there be enough cash to do it?

I reckon no.

Ok.

And what did you wonder about next?

To be continued.

[greencap]

no.

due to fractional reserve banking.

[biko]

We should return to the gold standard

[Woodsie1]

Originally Posted by greencap

no.

due to fractional reserve banking.

Whats that?

[Woodsie1]

Originally Posted by Tamara tamara

Ok.

And what did you wonder about next?

To be continued.

AH is for stupid sh1t,whats the problem.

[Noveight]

It’s all about that mattress money, baby.

[greencap]

Originally Posted by Woodsie1

Whats that?

if you could get interest for lending out money, and your mates asked you to hold on to some money for them for a bit, what would you do.

well thats what it is.

you tell people you'll hold the money for them, but then you lend it out, get the interest for lending it out, and in the meantime you hope that they won't all come back looking for their money all at one time.

if it goes to plan then you're just like 'ah yeah here you go' and you keep the interest.
if it doesn't go to plan you just nationalize the debts, put the country into austerity, then snort some coke, ride some brazzers, and wait til they all forget.

[Woodsie1]

Originally Posted by greencap

if you could get interest for lending out money, and your mates asked you to hold on to some money for them for a bit, what would you do.

well thats what it is.

you tell people you'll hold the money for them, but then you lend it out, get the interest for lending it out, and in the meantime you hope that they won't all come back looking for their money all at one time.

So basically not a hope in hell theres enough cash to go round.
Cheers.

[Cee-Jay-Cee]

Originally Posted by Woodsie1

I had a wonder to myself if all the people in the world wanted to withdraw all their money from the bank,would there be enough cash to do it?

I reckon no.

It’ll never happen as I can’t remember my PIN so I’m out of the challenge and therefore it’s doomed to fail.

[dotsman]

Originally Posted by greencap

no.

due to fractional reserve banking.

Its not because of fractional reserve banking. Its simply down to the very simple idea that the vast majority of money deposited in banks is subsequently lent out. Which is the whole concept of banking. Fractional reserve banking is simply a more "extreme" version.

[B.A._Baracus]

Originally Posted by Woodsie1

I had a wonder to myself if all the people in the world wanted to withdraw all their money from the bank,would there be enough cash to do it?

I reckon no.

There's this clip on YouTube from some rte2 show back in the day (or should I say network 2, jaysus haven't said that in a while)

But anyways it's like early 2000s (or there abouts) and it talks about recession and the likes. Uses a nice visual aid of a bath full of water and a bucket. IE, how much money people could people take out. Long story short there would be a point when banks would have to stop giving people money.

It ends with the line a recession couldn't happene in Ireland could it? (Again to that effect)


TL;DR - yes. There wouldn't be enough paper money to go around.

[Tamara tamara]

Originally Posted by Woodsie1

AH is for stupid sh1t,whats the problem.

Absolutely no problem.
You exceeded yourself in fact.

[Badly Drunk Boy]

This documentary will explain:

[Moomoomacshoe]

Originally Posted by Woodsie1

I had a wonder to myself if all the people in the world wanted to withdraw all their money from the bank,would there be enough cash to do it?

I reckon no.

It would be a cashtastrophe