What would happen if everyone in the world pulled their money out of the banks?

Question

What would happen to the World Bank, the richest people, and governments?

Answer 1

A world-wide depression and many economies

would be ruined!!

Answer 2

Oh, i think that's unimaginable, all bank will be bankrupted,

maybe money was useless at that situation. you can pick up

money you want if you stoop down!  It is only a joke i think

Answer 3

It's what called a 'Bank Run'. There's one in Mary Poppins! Banks never hold all their money in reserves (in fact, money itself was originally only a bank receipt for gold in reserve), and they frequently create money out of thin air just by loaning out more than they have in. Some say this is an evil financial conspiracy, others that their just stimulating the economy.

Anyway, as soon as people here there might be a bank run, they rush to get their money out before they lose it all, and warnings of a bank run can become a self-fulfilling prophecy (like with petrol crises, etc). If theres a run on all the majot banks in a country, the economy collapses. Worldwide, unimaginable. It'd be the worst disaster in human history (weird, because only numbers on paper (or computers) have switched around). Some forms of wealth would remain, of course, if you have a car, house and computer, you still have them after this economic apocalypse.

Answer 4

Mo.  It would just result in a lot of lumpy mattresses.

Answer 5

1 - The banks wouldn't have any money in them

2a - Dunno.

2b - Very little, if anything.

2c - They'd make us put it all back in.

Answer 6

A) The banks wouldn't have enough actual cash to support such an activity

B) Lending would cease, basically shutting down the world economy.

C) All outstanding loans would be called in, doing further damage to the economy.

D) The average person would suffer the most, as they'd no longer be able to borrow for their daily activities, or more important purchases such as homes, cars, or education.

Answer 7

There would be a massive depression the likes of which has never been seen in modern history.

How will it effect the rich?

Not as much because most of their assets are not in banks.

Since the U.S. finances the World Bank, I imagine the U.S. would be better off without a World Bank.

On the other hand you could expect LOTS of violence on a world wide scale from those who can't feed their families.

The World Bank is a device used to "bribe" or "buy-off" some societies for the purpose of preventing wars designed to gain monetary relief.