posted on Sep, 13 2007 @ 06:29 PM
I agree that the banks won't just "lose" all the money, they may temporarily freeze everyone's assets at most. (The government can enforce a law
to make it illegal for you to withdraw money until things stabilize.)
I don't see why people would distrust a system of purely debit cards over cash, as cash already has no real value if people all decided to stop
accepting it tomorrow... it's just paper. It used to be backed, but now it's so partially-backed that you wouldn't stand a chance of getting gold
or anything worthwhile for it, nor would they give it out in the first place. Although I don't like the idea where you need to have your money stored
in a bank in order to be able to use it, and one piece of metallic strip representing everything you own.
Either way I can't see another great depression happening in our lifetime, or possibly ever again, let alone a bank system collapse. There are bound
to be a couple of quite severe recessions, but not to the point of a depression.
If you feel certain a severe depression is coming and no one is going to talk you out of it, I suppose the only logical yet rash thing to do
(oxymoron?) would be to withdraw all of your money from the banks before everyone else catches on, cash out of all your stocks and any other
short-term investments you could (and hope like hell it will still actually be worth something), and stock up on a lot of ammo and food. Seems to be a
common trend in this forum .
[edit on 9/13/2007 by Yarcofin]