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A comment on Central Bank Digital Currencies are coming. Parent comment
And yes, your bank doesn't have all the money required to pay everyone out at the same time. That's 'fractional reserve lending'.
But at the same time, the money it does have is not all cash.
[1] https://en.wikipedia.org/wiki/Money_supply
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And yes, your bank doesn't have all the money required to pay everyone out at the same time. That's 'fractional reserve lending'.
But at the same time, the money it does have is not all cash.
[1] https://en.wikipedia.org/wiki/Money_supply