“China’s Financial Tsunami Hits: 670 Banks Vanish Overnight, People Locked Out Of Their Own Money
August 23, 2026
This is the thing about money. If you do not have it in your hands it is not yours. If it’s in the bank it’s the banks not yours. Financial collapses are rare so it seems only older generations remember banks will steal your money. This is not limited to china. The U.S. did it during the great depression. There were many old people who lived during that time that would never put their money in the bank. Don’t believe me? Don’t take my word for it.
“The consequences for individuals were dire. At that time, there was no insurance protecting bank deposits, meaning that if a bank failed, depositors often received nothing back. This lack of a safety net was a significant factor contributing to the financial despair faced by many Americans…”
Now I don’t know what the bold means to whoever reads it but where I’m from taking someones money and never giving it back is called stealing. The good news is because of cryptocurrency banks are on borrowed time. Soon they will become a relic of the past. No need for a bank when a person has a flash drive with crypto. Until then be careful during hard economic times. There’s always the chance banks will fail and your money will cease to exist.