Dave Smith on How the Banking System is a 'House of Cards'

BANKING 101

👀 Dave Smith on How the Banking System is a 'House of Cards'

"Everybody still kind of has in their mind that...the money in your bank account is your money and that they're holding it for you, right? But that's not right. That's not what's going on...There's not nearly as much money in the bank as we all think we have...If everybody came into the bank, or even just too many people came into the bank, and said we'd like to withdraw our money, there's nowhere near enough money for them to give you. So inherently, the whole thing is kind of a house of cards."