In China there is a saying: "Business is War" so a weapon from a Chinese point of view at least is using businesses as weapons against adversaries.
All democracies are adversaries to China (at the very least) at this point. China uses State Capitalism which means everything is owned by the Chinese Government and not individuals.
So, for China at the very least (and likely Russia too) they would attack Banks by causing runs on banks by putting out true or mostly true or lies about Banks on Social Media.
The problem is that a bank can collapse within about an hour because of Social media posts.
In the past it would have taken a day or more for this to happen but theoretically a bank could literally collapse from no problems at all to collapse within about 1 hour not just in one day from no problems at all. So, these problems could be manufactured (not real) or not and still the bank could collapse from too many withdrawals within too short a time.
So, likely there needs to be rules regarding banks which are like Stock rules like having money stop flowing in social media runs on banks and have a cooling down period of a few days when this happens. this is one way to stop Banks from collapsing. However, depositors might respond to this by putting money in mattresses or in cans buried in their yards too like people did during the Great Depression. My Grandfather for example, buried 25,000 dollars in his yard during the Great Depression so he would always have money available in an emergency. This could happen again the way this is going.
No comments:
Post a Comment