The haunting memory of bank runs from the past should serve as a stark reminder that banks are not as bulletproof as they seem.

In 1929, the stock market crash marked the beginning of the Great Depression, leading to widespread panic and a series of devastating bank runs. In just the first few months of 1933, over 5,700 banks failed, and depositors lost approximately $140 billion (in today's terms) of their savings. By the end of 1933, 11,000 had failed.

Fast forward to 2001, when Argentina faced a massive economic crisis. A run on banks led to the government freezing bank accounts and converting dollar-denominated accounts to pesos at a fixed rate, causing many people to lose a significant portion of their savings. In just a few months, the country witnessed a decline in GDP by 11%, and the unemployment rate skyrocketed to over 20%.

The threat of economic collapse and bank runs is still very real today. In a world where central banks continue to print money at an alarming rate, and financial systems teeter on the brink of collapse, the security of your savings is anything but guaranteed.