Question by  Lynore (191)

Can our economy crash to the point that your money in the bank will just be gone?

Will we wake up 1 day and banks will just be closed and our money gone?


Answer by  Hortense (206)

Yes, it could actually happen and that is exactly what happened to many people during the Great Depression. There are so many laws and restrictions in place now, though, as a result of the Depression that this is not going to happen again.


Answer by  Skullwing (746)

Theoretically yes as the paper and coin tender that is used as money is no longer backed by gold or any other tangible resource. The economy is literally make-believe.


Answer by  govindarajan (59)

no, the banks cannot go bankrupt all of a sudden. the economic indicators will give the signal of emergency so that the banks can increase their lending rates and stop loaning further so that they can escape from economy crash.

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