• Community Banks and Credit Unions concerned about Bank Transfer Day, "Pick another time" says one ma
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[QUOTE=Ridge;33146601]You DO realize that only 10% of the world's currencies are in paper form, right? The rest is all digital. A run on banks would empty their safes and leave people unable to withdraw their funds. That is why the feds closed all the banks at the start of the Great Depression.[/QUOTE] Which is why these institutions aren't allowed to assume debt. You'll make no real money from interest, but you'll also almost never experience a bank run. [editline]6th November 2011[/editline] [QUOTE=Xain777;33146980]To clarify, I'm saying that you want "currency" not "currencies" because the way you say it makes it sound like third world countries have a monetary system based on debit/credit cards[/QUOTE] You are aware that the developed and underdeveloped countries constitute a rather large proportion of the world, and especially in terms of wealth, and that much of the economic system in undeveloped countries, where any system beyond subsistence bartering exists, is backed by debt?
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