That cash is virtually meaningless, though. It basically doesn’t represent any value unless a person withdraws it. The only people potentially getting screwed here are the ones who tried to make a withdrawal and don’t receive any cash. Hopefully the machine sensed it was empty and didn’t deduct fromt their accounts.
The bank didn’t lose any money. They’ll just have more printed to replace these. The petro dollar is a meaningless fiat.
Do you think these bills actually got deducted from their accounts?
Money is stored in computers these days, not bank notes. If the bank had $4,756,873,467,129 before the rats ate the bills out of the machine, the bank still has $4,756,873,467,129 after the rats eat the bills.
The money gets deducted from the bank when a person makes a withdrawal, not when they refill the ATM.
A bank note just means “the bank owes me this much and will therefore honor this as legal tender.” It’s meaningless before the bank actually issues it.
Sure, good luck with that. I suppose if you’re born into generational wealth and have hundreds of billionaire friends then it would be pretty easy to pull that off…
If you can jump through all the hoops and red tape that are there specifically to prevent people like you and your community from becoming a part of that in-group where rules don’t apply, the law protects but doesn’t bind, circular lending and insider trading are the norm, and you receive both government subsidies and tax cuts at the same time, then yeah I guess you can enjoy all that free money…
That cash is virtually meaningless, though. It basically doesn’t represent any value unless a person withdraws it. The only people potentially getting screwed here are the ones who tried to make a withdrawal and don’t receive any cash. Hopefully the machine sensed it was empty and didn’t deduct fromt their accounts.
The bank didn’t lose any money. They’ll just have more printed to replace these. The petro dollar is a meaningless fiat.
In order for the bank to be reimbursed, atleast 50% of the bill has to be identifable.
Do you think these bills actually got deducted from their accounts?
Money is stored in computers these days, not bank notes. If the bank had $4,756,873,467,129 before the rats ate the bills out of the machine, the bank still has $4,756,873,467,129 after the rats eat the bills.
The money gets deducted from the bank when a person makes a withdrawal, not when they refill the ATM.
A bank note just means “the bank owes me this much and will therefore honor this as legal tender.” It’s meaningless before the bank actually issues it.
Do you think the federal bank hands banks money for free?
To other banks, billionaires, and mega corporations? Yes.
There might be some legal wrangling to keep the paper trails looking legit. Circular lending and all that. But that’s essentially what they’re doing.
So the secret is start a bank for free money.
Sure, good luck with that. I suppose if you’re born into generational wealth and have hundreds of billionaire friends then it would be pretty easy to pull that off…
Or you can gather your local community and form a credit union. Should be easy with the free money.
If you can jump through all the hoops and red tape that are there specifically to prevent people like you and your community from becoming a part of that in-group where rules don’t apply, the law protects but doesn’t bind, circular lending and insider trading are the norm, and you receive both government subsidies and tax cuts at the same time, then yeah I guess you can enjoy all that free money…