Dana El-Kurd

Yes, and it blew up the entire world economy.

That wouldn't work for me.

No, fuck that.

No, no, no.

You need something that can buy a burger, and they're not giving you that.

So, okay, this is very, very bad.

If people try to do this, it is called a bank run.

It is not good.

It's bad.

Yeah, and so this blew up the entire world economy so many goddamn times that eventually we got financial regulation.

Now, this regulation requires banks to have money that is like actual cash they can hand you, like right now, on hand at all times.

And the government gets to, and this is, that's a little bit simplification, but like, yeah, that's how it works, right?

Yeah, the government will give you your money back if the bank goes under up to like a certain amount.

Yep, that's what that means, right?

The government will give you your money back.

But also, there's a trade-off to this.

So this is a massive benefit for the banks, right?

The fact that if they go under, all of their assets will be repaid by the government.

It's a massive benefit for them because it means that putting your money in the bank is safe.

Right?