Chinese run on NY and Philly banks.

Okay, they barely speak English so the concept of FDIC insurance probably makes no sense to them. Okay. It only takes a *rumour* that a bank is insolvent for all the depositors to come clamoring for their money back…and just like “Its A Wonderful Life”, the bank isnto going to ahve anywhere near the money thats actually been deposited. So the banks may restrict withdrawls or even close for the day..and then the rumors really start flying and a slef-fulfilling prophecy starts – the bank *does* become insolvent..at least until the .gov steps in.

Moral? Me and the LMI’s keep four different types of ‘money’:
Money in the bank (and bonds, CD’s, etc) for when things seem to be working
Cash for when things get a bit uneven or theres a short-term emergency
Gold/Silver in case things tank in a big way. Honored all over the planet.
Trade goods in case the wheels really fly off in a big way. When people are far more interested in a box of 9mm hloowpoints than they are in a 1 oz. Eagle, you’ll have landed in the world of Mad Max, The Omega Man and most of eastern Europe.