Open your wallet, Andy, and take out the currency in it. Are those greenbacks "money"? No, they're IOUs. Do you think that your bank has what you consider your money safely squirreled away like gold ingots in a vault? If you do, than you're a fool. Your account is basically another" form of IOU. Your bank has only a small fraction of its total assets (deposits) in the form of cash reserves. The rest is no more "real" than the assets of the Social Security Administration. How can you function and be so shamefully uninformed?