$SPXS Before 1929's Black Friday, nobody could imagine their life savings would disappear from the safety of the banks where the deposits existed until after those banks filed for Ch7/11 relief. The banks were still in a position to foreclose on hard hit farms, but families couldn't retrieve their $. The Federal Reserve (the guarantor of those green IOU promissory notes you carry in your wallet) consists of member banks--not all of them American. Its membership, in fact, has been declining of late. Nobody contemplates the possibility of its insolvency or filing for bankruptcy relief. Yet it is a for profit NGO and there is no law or Constitutional prohibition against it declaring bankruptcy, unlike the States. Hold your friends close, but your enemies and your wallet closer.