Simavo Smith (simavo)
Where can I get more information about what would happen to my checking, savings, credit card, money markets, and certificates of deposit accounts in the event of an economic crisis? Would I lose money or convert my assets to a less liquidable format?
I would interview some bank managers and contact the FDIC with your query. That I know that when a bank fails, the FDIC moves to quickly transfer your account (s) and whatever money a bank has to a much larger and much more liquid bank to manage your account for you.
What would happen in a total economic collapse at the national level? I have no idea, but you can try to find out what happened and how the government handled things during the Great Depression Era and the banking system of 1929. Since then, a lot of legislation has been enacted to better prevent banks from operating. and economic collapse, and ensure accountability and management of depositors' funds. I am not a banking expert, so you can ask the authorities how things should be handled in the event of a national financial disaster, a system crash so to speak.