How much truth is there in that movie? Any finance, economics expert here?
more true than false
What do you mean by “our”? Like a specific country or in general?
All the big economy countries have the same system. US, UK, Europe, Japan
If you give $100 to a bank, they lend out $90 and keep $10 in reserve. The lent out money can be stored or spent in another bank or the same bank. If it’s stored, it turns into more money via loans. This is basically high school economics in North America. They probably go deeper in college classes but at the basic probably true. If everyone ran to the bank to withdraw all their money, the bank would likely collapse.
no bc they federal reserve would print $ to cover the deficit, it’s called FDIC insurance. but then u get screw through hyperinflation like wiemar germany
There wouldn’t be inflation if they print money to fund collapsing banks. That inflation has already happened when such banks have created the money as debt. But it would be hyper deflation if they don’t print money.
I don’t know the movie, but the day of reckoning is coming closer
It is 100% truth and we are phucked!