What Happens If... - Page 2

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On July 22 2008 14:34 LandisReed wrote: Show nested quote + On July 22 2008 11:31 matdon460 wrote:   On July 22 2008 11:00 Fraser wrote:   On July 22 2008 09:39 geometryb wrote: money put in a savings account is insured by the federal government i think only up to 10k afaik FDIC insures up to $100k it is 100k, but if there was ever a bankrun of the scale of the Great Depression, then most people wouldn't get anything. really the FDIC is more of a peace of mind thing, but if the shit really hit the fan then people would be out of most all their money.

No. People would get all of there money. It's a government gurantee.

The government will just print more money. lol_fiatcurrency.

On July 22 2008 16:39 Baal wrote: Show nested quote + On July 22 2008 11:06 Ket wrote: "Money covering player's balances is held in segregated accounts managed by the Royal Bank of Scotland, ensuring that PokerStars can fulfill its obligations to players at all times." (for pokerstars). so yeah ofcourse all money you hold in accounts is being invested by banks etc but pokerstars is not acting as its own bank or anything. and its laughable to think that if everyone on stars cashed out, royal bank of scotland could't cover it at once. baal dont present your speculations as fact Well it would be very weird for stars to pass on such a huge profit potential.... for example. Theres a VolksWagen assembly plant in city (its obv fucking huge), well every day all their possitive balance that will be used next day for stuff like salaries or other shit, after the turn is over, they have a whole "team" that transfers that money instantly to banking institutions in asia so they can use it, then early in the morning the funds are returned to VW and only by doing that they make millions of dollars every day out of interests and stuff. I guess stars has some very nice interest rate deal with the Scotland bank for them to pass on the oportunity to handle our money in other ways, what in the beggingin i were trying to say is that obviously our money sitting in stars gives them massive profits.

Its not scotland bank anymore. It was before. But I've asked them and they said that they moved out from scotland bank after the USA bill passed. I emailed them again asking spicificly for the name of the new bank and they only said its a leading bank in Europe.

i think lee jones stores all the moniez in his basement (or at least did before quitting)

lee jones doesn't need to store our monies. he shits gold bricks in the morning.

On July 24 2008 13:12 chris wrote: what rake isnt enough for PS now?

was waiting for this line

On July 24 2008 14:02 matdon460 wrote: Show nested quote + On July 22 2008 14:34 LandisReed wrote:   On July 22 2008 11:31 matdon460 wrote:   On July 22 2008 11:00 Fraser wrote:   On July 22 2008 09:39 geometryb wrote: money put in a savings account is insured by the federal government i think only up to 10k afaik FDIC insures up to $100k it is 100k, but if there was ever a bankrun of the scale of the Great Depression, then most people wouldn't get anything. really the FDIC is more of a peace of mind thing, but if the shit really hit the fan then people would be out of most all their money. No. People would get all of there money. It's a government gurantee.

1. It could take years before you got all your money, or any of it for that matter. The bigger the cluster fuck, the longer it would probably take.
2. Government would need to print up the money to meet their obligations, which would lead to devaluation, which would mean you ultimately would end up with less.
3. No such thing as a guarantee.

On July 24 2008 16:18 Cray0ns wrote: The government will just print more money. lol_fiatcurrency.

ding ding ding winner. ok my bad, you will get your "government guaranteed" money, but they will have to print so much that 100k will be worth what 1k was at the time of the event. lol. didn't people learn about inflation in school