BBOTC:
"No one in their right mind is going to run to the bank and draw out their money. That is irresponsible. Ever hear of a credit card?"
I haven't got a clue what the logic is behind your comment. The only reason a person WOULD take their money out of a bank is IF they believe the financial system could collapse (which would ALSO mean runs on banks)!
IF that happens, credit cards will not exist because everyone will demand cash. There is no question about that.
Now, it may be "irresponsible" in the sense that a person is contributing to the problem, but the bottom line is that no individual person can affect the big picture and it isn't the person's fault that the government has a fiat system where only a fraction of the "money" exists in paper. That money belongs to THEM and they have every right - guaranteed by the US government - to have possession of the cash if they want - keeping in mind that they have to report withdrawals over a certain amount.
I hardly see the person who owns the money as "irresponsible" for simply wanting to take possession of it to protect themselves and their family. It would be "irresponsible" to NOT do whatever they were legally entitled to.
"I'm sorry honey that you and the kids have no food to eat. I did it for the better good. You understand, right? ....
Honey? Wha... What are you doing? Where did you get that shotgun??? ...."
Len
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