People have right on their money. Still due to the economic system followed over the past people have money and certain value assigned for money. So certain changes need to be done in economic system.
People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.
Not in my country, friend! Our deposits are insured. I get my money back if bank closes. 100% coverage up to 100k.
Well I don't know where you are, Iceland maybe? Switzerland?
...or the United States, Canada, Mexico, Saint Vincent, Caiman Islands, Argentina, Chile, Brazil, Uruguay, Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, United Kingdom, Belarus, Latvia, Norway, Russia, Switzerland, Turkey, India, Hong Kong, Malaysia, Thailand, Japan...
Deposit insurance, whether explicit or implicit, exists in effectively all countries that have a banking system though all might not cover 100% and limits will vary.
Hmm... Not if the banks go bankrupt no... Tell that to the Greeks!
It's not possible for the sole reason that banks actually own only 5% of the money they owe you so...
