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.
04-08-2019, 01:41 | #1 |
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Cashfull society
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. |
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04-08-2019, 01:50 | #2 |
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04-08-2019, 02:04 | #3 |
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no.
due to fractional reserve banking. |
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04-08-2019, 02:04 | #4 |
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We should return to the gold standard
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04-08-2019, 02:12 | #5 |
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04-08-2019, 02:14 | #6 |
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04-08-2019, 02:31 | #7 |
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It’s all about that mattress money, baby.
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04-08-2019, 02:31 | #8 |
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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. |
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04-08-2019, 02:33 | #9 | |
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Cheers. |
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04-08-2019, 02:37 | #10 |
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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.
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04-08-2019, 02:39 | #11 |
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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.
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04-08-2019, 02:39 | #12 | |
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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. |
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04-08-2019, 23:17 | #13 |
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04-08-2019, 23:24 | #14 |
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This documentary will explain:
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04-08-2019, 23:30 | #15 |
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