On my local Nextdoor.com, someone helpfully notified everyone that the BofA branch nearby was out of cash.
What followed was a flurry of responses noting that other BofA ATMs around town were experiencing problems, and some branches were closed, and there were withdrawal limits, and so on. Being the cynic I am, I thought: This is how it starts.
Sure enough, people are beginning to tell tales of long lines at ATMs, and how their cousin knows someone who works at BofA and says the bank is running out of money. Who knows if any of it's true, but as we know, it doesn't necessarily matter.
It doesn't help that 1) there has been a disruptive decrease in the circulation of coins 2) banks have fewer personnel available due to Covid-19 restrictions and 3) nutters are muddying the waters with conspiracy theories about how the world government is making its move to give us all the mark of the beast.
I am simultaneously amused, puzzled, and alarmed by all this. On the one hand, what is more likely: that a major bank is ready to dramatically fail, or that the dude who stocks the ATM called in sick? On the other hand, a cash run is a cash run, and even if it has an completely irrational basis, rational people should take it seriously.
Many months ago, in a thread here about "things that aren't coming back", I mentioned cash. As for myself, I literally haven't seen a Federal Reserve note since March, and I don't invest in dollar bills. It is my hope that people will notice that physical currency isn't really all that important to the economy, or necessary for daily living in the modern world.
The last thing I want to do is give any credence to this "cash shortage" idea. So very gently, without suggesting that anything is wrong, I'd like to know if anyone has experienced problems getting cash; if so, has it been a problem in your life; and might there be a more serious societal problem lurking here?
My own suspicion, by the way, is that it is all bullshit. But I'd like other perspectives.