How would you get your money out of the bank??
2007-11-08 08:34:31 · 8 answers · asked by james w 2 in Business & Finance ➔ Personal Finance
Besides this being the least of your problems...and assuming the bank was still physically open, since there would no doubt be mass rioting, etc...
The USA being broke really has nothing at all to do with getting your money out of the bank...The fact that you are asking how you "get your money out" implies that there is money to be gotten out! FDIC insurance protects depositors against the bank going broke....and the government is acting as a guarantor of the deposits, to the 100K limit.
Ignoring the fact that if the gov't was, in fact broke, and therefore the dollar would be virtually worthless in the marketplace, the fact that the deposits would be no longer guaranteed would really have no effect on your ability to get the money out of the bank.
2007-11-08 13:48:54 · answer #1 · answered by Brad 2 · 0⤊ 0⤋
FDIC insurance is based on the "full faith and credit" of the United States. If the USA went broke, then the money you kept in the bank would be worthless anyway...and getting your money out of the bank would be the least of your concerns.
We do enough borrowing from the rest of the world that the rest of the world would not allow the US to go broke. They have too many interests at stake. Having the US go broke wouldn't benefit anyone.
2007-11-08 08:38:10 · answer #2 · answered by Scotty Doesnt Know 7 · 1⤊ 0⤋
If the USA went broke, the money in my bank account would be the least of my problems.
2007-11-08 08:41:45 · answer #3 · answered by J M 4 · 0⤊ 0⤋
The style of banks on the FDIC's "concern checklist" maintains to advance. the financial issues run deeper than those couple of failures point out. The feds are scrambling to shore up the financial institutions yet while they might fix self assurance for the time of the great melancholy by utilising putting the load of the federal government in the back of the financial institutions, I have faith they might have the skill to do it now.
2016-10-01 22:12:33 · answer #4 · answered by corbo 4 · 0⤊ 0⤋
You would still be able to get your money from the bank, but it would be worthless. If the US is broke the dollar would have no value.
If I made up my own money, it would not matter howmuch I said i would give you for you house, you would not sell it. If the us was broke the dollar would be the same as my made up money.
2007-11-08 08:45:14 · answer #5 · answered by the_prankster 5 · 0⤊ 0⤋
If the US went broke your money in the bank would be the least of your concerns - the money would be worthless anyway. It'd be time to invest in things like hoarding food, water, and guns.
2007-11-08 08:58:32 · answer #6 · answered by voluntarheel 5 · 0⤊ 0⤋
If the USA went broke, your savings account would be the last thing you need to worry about.
2007-11-08 08:41:07 · answer #7 · answered by Anonymous · 1⤊ 0⤋
If the US went broke, money would be worthless.
2007-11-09 09:14:33 · answer #8 · answered by Steve R 6 · 0⤊ 0⤋