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@Pinboard

The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

Lonely street of broken dreams
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    Pinboard‏ @Pinboard 13 Apr 2020

    Pinboard Retweeted Emily Stewart

    I withdrew vast amounts of cash, as did every foreign-born person I know, not because I mistrust the banking system, but because I don't trust the system that keeps the ATMs full using low-wage labor. This is a fascinating test of the very American belief in normality and rules.https://twitter.com/EmilyStewartM/status/1249778915272527872 …

    Pinboard added,

    Emily StewartVerified account @EmilyStewartM
    People seem to be pulling their money out of the bank and so here is a reminder that the FDIC exists and it is harder to rob a bank than it is the cash under your mattress. https://www.vox.com/covid-19-coronavirus-economy-recession-stock-market/2020/4/13/21219141/bank-safe-fdic-insurance-coronavirus-money-deposits …
    12:25 PM - 13 Apr 2020
    • 16 Retweets
    • 84 Likes
    • Vaguery 🔲 Remember Me Matt Lehrer Mike Grusin Lucid00 Hyperlexic Tom PM Daniel Osborne How Awesome Was That Rush John D Pell
    9 replies 16 retweets 84 likes
      1. New conversation
      2. Pinboard‏ @Pinboard 13 Apr 2020

        It's fascinating to watch journalists whose retirement savings evaporated three weeks ago, and whose jobs will disappear three weeks from now, reassure the public about the basic trustworthiness of the financial system.

        2 replies 8 retweets 54 likes
        Show this thread
      3. Pinboard‏ @Pinboard 13 Apr 2020

        (A corollary to 'don't put too much trust in banks' is to keep your a bunch of your cash in usable denominations, not hundreds. If you don't have over a hundred bucks—problem solved!)

        3 replies 0 retweets 8 likes
        Show this thread
      4. Pinboard‏ @Pinboard 13 Apr 2020

        One final point—while bank deposits are FDIC ensured, the mechanism for backstopping the banks in case of mass withdrawals is functionally identical to the Paycheck Protection Program, and look how smoothly that's going right now,.

        4 replies 1 retweet 20 likes
        Show this thread
      5. End of conversation
      1. Till‏ @klimpong 13 Apr 2020
        Replying to @Pinboard

        Most places here went from „cash only“ to „card only“ over night.

        0 replies 0 retweets 1 like
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      1. Sarah T., disagreeable leftist stranger‏ @saraht_74 13 Apr 2020
        Replying to @Pinboard

        It's weird that in America there's such a yawning gap between "preppers with 40 barrels of protein powder" and...everybody else. Like, I had SOME cash on hand for just this reason (and some beans, and some water, and a thermometer), and apparently this was not at all common.

        0 replies 0 retweets 1 like
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      1. Kevin Hogan‏ @kevinahogan 13 Apr 2020
        Replying to @Pinboard

        Years ago, I arrived for a short visit to Paris the day before a nationwide armored-car strike. Fortunately, I was able to make my max withdrawal that night; the next day, many of my fellow tourists started learning the hard way that ATMs were not filled by magical gnomes...

        0 replies 0 retweets 0 likes
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      1. New conversation
      2. Michael Krakovskiy‏ @deadprogrammer 13 Apr 2020
        Replying to @Pinboard

        Also stop bragging about taking out 5000 yen. It only sounds impressive.

        1 reply 0 retweets 1 like
      3. Show replies
      1. Julian  💉 Missig‏ @jmissig 13 Apr 2020
        Replying to @Pinboard

        last weekend I tried to get cash from ATMs in my local downtown. They all displayed signs saying they no longer dispense cash while these bank branches are closed. FDIC 🤷‍♂️

        0 replies 0 retweets 0 likes
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      1. Roman de Renart‏ @howisthewater 13 Apr 2020
        Replying to @Pinboard

        Even if you can't access cash, it doesn't seem like credit and debt cards are all of the sudden going to stop working.

        0 replies 0 retweets 2 likes
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