this post was submitted on 10 Aug 2023
386 points (98.2% liked)
Asklemmy
43945 readers
838 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
elaborate
look friend, they had to make laws outlawing bank runs. You know what that means? They don't have all your money. And not only that, but the state is willing to use violence on you if you threaten their right to not have all your money. This sounds cut and dry.
They can't.
Unless they're referring to scummy mega-banks that exist by fucking over the little guy with random fees, hard to close accounts, and other scummy practices like Wells Fargo, BofA, etc.
But banks as an institution? No.
Lol. "Banks are good. Except those giving banks services"
"Banks are bad. Mattresses are good, store money there."
Through the magic of fractional reserve lending, banks are able to loan you money that doesn't exist.