We all know the bank invests everyone’s money and keeps very little cash on hand. I propose a different system.
The bank should keep everyone’s physical money, to the dollar, locked in a vault, available any time the owner comes to claim it. They can charge a small fee, perhaps $5 per $1000 a month for their time and space.
This is how banks should work. It’s just better. It’s what banks should be for.
Physical money is going away. It’s part of where all this eco-socio-political-religious drama is moving us.
I like physical money. I will cling to it.
I understand your preference. However, physical money only matters as long as its accepted.
“Money and banking” is a game where the rules are out of our control, and the pieces you play with are developed by someone else.
Keep it where? One bank locationI need to use anytime I go?
You can do that now just use a safety deposit box.
What is the reason for having your money in a bank then? How is the bank going to lend out money if they have to keep yours physically there?
Worst bank robber ever! Imagine the amount of cash on hand at each branch if this was standard practice.
Keeps it safe from fire and robbery.
Why would they lend out my money? They should just be a fancy storage facility for me. They can lend out their own capital if they want.
Then you don’t want a bank, you want secure storage. Nobody is stopping you from doing that now. As mentioned above, use a safety deposit box to achieve what you want banks to do
There are banks in Switzerland that do that. But they charge fees every year for it. As someone said, get a storage locker and put a safe in it
Lol. Banks aren’t a storage place. I don’t even think you’re insured over 10000k. They are lenders
I keep my money under my mattress!
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Certified credsticks will still be around for shadowrunners
Banks should do it.
How much nuyen you got, chummer?
Fractional reserve banking. Implemented when the federal reserve was created. Another poster above kinda mentioned it
I wonder how they would be able to lend out to make business loans or pay you any interest on your money.
The correct way is to put your money in a bank that is tied to a brokerage and you can shift it around however you want.