[kasey_junk]

There were major banking panics in the US in 1873, 1884, 1890, 1893, 1899, 1901, 1907 & 1908. All while the US was on a hard gold standard with weak central banks.

That’s of course without considering any of the pre and during depression era panics, where there was a quasi gold standard.

Savings can either be punished by inflation or risk. That’s an immutable financial fact. The only time you aren’t being punished for savings is if you exist in an economy where money can’t be put to productive use and is thus deflationary. Sometimes that’s good for savers but generally it means you are experiencing bad stagnation more broadly in the economy.