3/3 And average people wondering,
"Is my money safe?"
They start pulling their cash.
And after that, lines outside the banks,
smashed ATMs.
A couple of weeks,
there's no milk in the store.”
1/3 From “Too Big To Fail” movie:
“There's not a bank in the world
that has enough money in its vault
to pay its depositors.
It's all built on trust.
And, Wendy, we are so very close.
Morgan Stanley, Goldman are an inch away.
2/3 If the other banks stop trusting them, if they pull back on interbank lending, it's over in a matter of hours.
And from there it goes too fast to stop, a run, and not just on one bank, I mean on the whole system.
The most valuable thread you will read this year.
23 time tested ways to make $300k/year from people who’ve done it over & over.
Start 2023 with these 23 learnings 👇
1/ An Allegory of Finance
I have been posting a lot of educational (and humorous!) threads on finance, money, and economics.
My mission is simple: to demystify these concepts and make them accessible to everyone.
All of the threads can be found below. Enjoy and please share!