[trgn]

It's not that weird. It's basically a checking account. Lot of countries those have fees attached. It's also the historical origin of banks. strong men with vaults to store your coins. It's no longer attractive because of fiat currency, which has strong inflatuonary pressure; and because of the fish-in-water effect of two centuries of capitalism, people no longer can distinguish between savings and capital, the divider between those two conc3pts is no longer part of the mental model of forms of wealth.

[tyre]

Narrow banks are no longer attractive because lending out depositors’ money has positive externalities. It’s used to fund mortgages and small business loans. That’s a positive.

Are there downsides? Sure, but what we saw this past few days is that the system worked. SVB was dumb, the federal government stepped in to save deposits, management was fired because they did dumb things, and the shareholders were likely zeroed out because they owned the company doing dumb things.

Yes, we could pull money out of the financial system, but that might well be worse for everyone.

[SketchySeaBeast]

I have a checking account. I only keep a small portion of my money in there.