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cjd (cjd@pkteerium.xyz)'s status on Sunday, 15-Oct-2023 17:47:26 JST

  1. cjd (cjd@pkteerium.xyz)'s status on Sunday, 15-Oct-2023 17:47:26 JST cjd cjd
    in reply to
    • DrFell (Disgruntled Citizen)
    1. People deposited money in the banks
    2. Banks lent it out at 3% (back during 0% interest era)
    3. Interest suddenly went to 5%
    4. Everyone withdrew their money and put it into govt debt because it pays 5% and banks pay near 0%
    5. Effective run on all banks at the same time
    In conversation about a year ago from social.076.moe permalink

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