Jun 16, 2014
Professor Laurence Kotlikoff is concerned about the dollar and the stability of the world banking system. So much money has been printed to get the world economy through the last crisis. Will that money cause inflation? Will it cause a loss of faith? Will there be bank runs like in the 1930's? I assert that the age of the 1930's style bank run is over because of the death of cash. So you go to your bank and they give you a debit card with your life's savings. Then what? Where do you take it? Or they give you a bank check, where do you go then? Take it to another too big to fail bank and deposit it? Bank runs are obsolete. So we're all stuck with the bank we have now.