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Originally posted by triplereiki
reply to post by snowspirit
I am wondering though, if something was to happen, and was huge enough to empty thousands of accounts, even though the banks are insured, where will all that money come from to bring back the effected balance amounts?
Like, through the years, when a bank was robbed, there were ways to make up for that, but if many banks are hit, and thousands of custimers from each bank, then I really do wonder how any of that money could be recovered.....from where?
BTW, thank you for posting.
Originally posted by snowspirit
Originally posted by triplereiki
reply to post by snowspirit
I am wondering though, if something was to happen, and was huge enough to empty thousands of accounts, even though the banks are insured, where will all that money come from to bring back the effected balance amounts?
Like, through the years, when a bank was robbed, there were ways to make up for that, but if many banks are hit, and thousands of custimers from each bank, then I really do wonder how any of that money could be recovered.....from where?
BTW, thank you for posting.
Much of it sits as a digital balance covered by assets and investments, I think, and the money makers would just have to make sure the cash was made if people wanted the actual cash. If they didn't cover what was lost, we would lose faith in our banks, and we seem to have a good system here. We had no banking problems over this last money meltdown.
www.craigmarlatt.com...&lists/currency.html
Money in Canada is made by two different governmental agencies. Notes (paper currency) are produced by the Bank of Canada. Coins are produced by the Royal Canadian Mint.