14Tdebt

Oh no. I just heard this being though of. "If everybody did this, it would BREAK THE CORRUPT BANKING SYSTEM: If everybody went and pulled their money out of their bank accounts, and took it home in cash, it would break the banks. The way our banking system works is that banks loan out 30 to 50 times more money than they really have, since we have a "fractional reserve" banking system. So for each $1,000 you pull out, the banks have a $50,000 problem. If people did this en masse, it would wreak havoc and show the banking system as totally flawed." I hope the Occupy crowd doesn't do this!

Joined Oct. 16, 2011