So basically all the “money” in the banks are just numbers on the screen.What would happened

@DeluxedEdition Even if they could, why would they want to? No one has ever pretended that paper money (aka "fiat" currency) is "the real thing." It doesn't even represent the real thing since 1968 when we went off the gold standard.

The good thing is that the government can control the economy better this way.
The bad thing is that the government can control the economy better this way.

Thank you for this reminder! I was about to go into shock that it was all getting out there for the first time!@SWisGoingWoke

@Mindful The only thing to fear is if the gooberment starts running the printing presses 24x7x365 and you have to start hauling cash in a wheelbarrow to buy a loaf of bread.

Which actually happened a few years back in Venezuela.

@Mindful i think people mass-withdrawing their money is partly what caused the depression of 1929. I am no history buff but I seem to remember hearing that.

@SWisGoingWoke no Venezuelan! No Venezuela! No Venezuela! Yes to Denmark and Canada. Yes to Switzerland.

@CestManan yep

Really? I thought it was because everybody was buying on credit at the time and then stocks crashed and it all was a snowball effect? I wonder how withdrawing money would cause a depression 🤔@CestManan

@DeluxedEdition banks used to rely in gold and transfers. It used to represent real value.

@Mindful I wonder though, where does all this digital money come from? I know bills are printed off but if most money is digital, where does it even come from? Is it the result of currency that the Mints of the world have long destroyed?

Yes, They used to be tickets that represented one gold piece😄. @Mindful

@CestManan right? That’s concerning 🤔

@CestManan there is a governing board... the federal reserve. It’s not so much a place as it is a management group in treasury department. It is an essential department. Some info provide public for financial institutions, public, but not all is revealed so public-some is top secret.

@Mindful Makes sense.

I think even if gold were used to back it - gold is just some damned metal anyways, not even that pretty or useful in it's raw form.