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A comment on Circulating in China’s Financial System: More Than $200B in I.O.U.s. Parent comment

Re:Circulating in China’s Financial System: More Than $200B ... by rapsey on Thursday August 08, 2019 @07:45AM (#20643586)
> The only way cash savings can be wiped out is rampant inflation, currency devaluation, or the currency being no longer accepted.

Also bail-ins. Any significant amount of cash in a bank account is a sitting target if real trouble starts. This is more likely in smaller countries like Greece.

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Re:Circulating in China’s Financial System: More Than $200B ... by oceanghost on Thursday August 08, 2019 @08:57AM (#20644058)
Yes. This. Greece was the test for the latest wealth-transfer mechanism. Why wait for unreliable governments to bail you out when you can just confiscate deposits?
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