Published on May 27, 2012 by DeshpalSandhu
From a Hemingway story: How did you go bankrupt? Slowly at first, then all at once! Seems like the slow death of the dollar and the slow bankruptcy of America is moving from the slow stage to the all at once stage...
If you go into a bank and want to withdraw a large amount of cash they can't give it to you. It has to be ordered in advance. So if ninety-seven percent, or thereabouts, of money is electronic and never printed then if enough people ask for enough cash all at once, then we're going to find out that the banks don't even have the paper to back it up. We don't want gold, we just want paper and we can't get it.
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