News for hackers. Stuff that matters.
Re:Why the SEC Won’t Hunt Big Dogs by nobody3141 on Wednesday October 26, 2011 @05:09PM (#3160429)
You don't trust your local bank to store your $10 bill - but you still trust the central bank not to print a billion of them tomorrow?
Re:Why the SEC Won’t Hunt Big Dogs by cobrausn on Wednesday October 26, 2011 @05:16PM (#3160465)
Never really said I did. But the fact is a lot of people still use cash, and would continue to do so (regardless of actual value) after a banking system crash. At least, I perceive it would, unless governmental authority also broke down. Then we are back to a barter economy.
Re:Why the SEC Won’t Hunt Big Dogs by scott_s on Wednesday October 26, 2011 @05:39PM (#3160556)
Where would this cash come from? Right now, banks get it from the mints, which print it on a demand basis. And even if you use cash for most of your transactions, if you keep your money in the bank...
Re:Why the SEC Won’t Hunt Big Dogs by cobrausn on Thursday October 27, 2011 @10:53AM (#3163380)
My best guess to this would be the government would have to temporarily (or permanently) set up a federal bank that would get the cash out, perhaps giving back a larger amount than normal that year in tax returns that have to be picked up in cash from said bank. New problems would need new solutions.