Post
Topic
Board Economics
Re: Harvard Economist says your money isnt safe in the bank, withdraws $1 Million
by
snakebit
on 07/02/2014, 19:21:01 UTC
Why would one put that much money in one bank account? The bank doesn't have your money. The instant you "deposited" your money, the bank uses it as reserve for leveraging up lending. It isn't there in the bank. Your bank account is a loan to the bank, it's simply accounting entries in their books. It records how much they owe you... Not how much you have.