People keep saying nobody thinks of bank deposits as a loan to the bank. This is fucking stupid and wrong.

My company literally just opened another checking account a few months ago because we sometimes need to hold more than $250K in cash for cash flow reasons and we weren’t comfortable having money in an account that wasn’t FDIC insured.

My partners are complete or normies too so this isn’t a Bitcoiner only way to think. It’s crazy to think your bank can’t fail.

Have none of these assholes watched It’s a Wonderful Life? I’ve been fascinated by bank runs since I was a kid partially because of that movie.

Hell, I had a panic attack at the beginning of the Covid lockdowns when I realized me and all my partners had all our cash sitting in separate accounts at the same local bank. I immediately moved a bunch of cash out of that account into several other accounts just so one of us would have liquidity if something went down at our primary local bank.

People putting all their eggs in one basket are morons. It’s that simple.