Comment by csmiller | Hacker News Reader

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Comment by csmiller | Hacker News Reader

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> Try and pull your savings out of a bank when there is a bank run.

Familiar with the FDIC?

Something that applies to the US only?

Most major countries have a similar scheme

https://en.wikipedia.org/wiki/Deposit_insurance

Take the EU for example from that link https://en.wikipedia.org/wiki/Deposit_insurance#By_EU_countr...

Limited to 100k, that is extremely low for a lot of people looking for safe asset havens.

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