It’s a nightmare scenario: the banks start failing and people rush to withdraw their deposits and savings. So how much currency is available to cover such withdrawals?
It turns out that for every dollar that you have in the bank (in the USA) there is actually whopping $0.00061 available to cover each dollar in a withdrawal request!
In other words, banks could only pay out 6 cents for every $100 dollars of deposits that people … Continue reading...
