> This is why banks are regulated
I can't imagine thinking that banks won't lose your money. You live in a complete fantasy world.
I can't imagine thinking that banks won't lose your money. You live in a complete fantasy world.
If you live in Argentina, I sympathize and I take your point.
People who essentially want government guarantees for their money should just buy government bonds.
Not with simple account deposits, no
Basel rules are still a thing
Customers stop monitoring their bank, when deposits are insured.
>The general assumption is that it would require the US government to collapse for your checking account to vanish, in which case you'd probably have larger problems to worry about.
See USSR-Russia transition in 1990-1992 for example.
Accounts didn't vanish, but all people's money where used to cover the deficit
Crypto 'banks' need orders of magnitude more security and it's not a trivial problem.
My grandfather lost his tuition money he had saved to become a dentist, in the great depression.
Instead he worked his whole life in a factory for GE.
Bank don't loose USD because it can printed at will the the holding country like they bailed banks in 2008.