Wrong. If you hold fiat currency, that is, numbers it is the banking system, it is that system that ows you, not a particular bank. So if a particular failed bank sell their assets (loans included) to a different bank, it is that bank that will force the borrowers to repay their loans. And in order for the borrowers to be able to reply their loans they are forced to provide labour, services and products to the number holders. In that way, the debt, that the system owes to those holders (because they invested in debt whose quantity is represented with numbers) is paid.
Lets test these claims in practice.
Recent Bank runs in China:
More infos here:
There’s a run on Chinese banks and it’s being ignored by the world
Does this only happen in „third world“ countries?
- First of all, it doesnt.
- Second of all, every human in the world has the right to keep their life savings and money they worked for, no matter where theyre from. A wipeout has consequences that cant be made unhappened later on.
What are your practical suggestion for a person that just lost millions, or 40 years of work, without having done anything wrong?
After your logic, a victim of these things in china, would have been fallen for a scam if they put their money into Bitcoin, even tho they would still have it now. And they wouldnt have been scammed by having their money in fiat, even tho people just lost everything.