Story Archive

Imagine How Much Worse This Would Have Been If We Were Still on the Gold Standard

Two Indian tribes in South Dakota settled with the federal government for several million dollars over the mishandling of tribal assets. The Lower Brule Tribe issued $750 checks to about 3,800 members, and the nearby Crow Creek Tribe issued $800 checks to about 4,000 tribal members. That caused a run on the closest bank, a Wells Fargo branch in Lower Brule. “Oh, geez, it had to have at least 40 people in it,” said Marcia Surdez, 50, of the Lower Brule tribe, who waited for one of the two tellers to cash her check. “All of a sudden, there was a crack,” she said. “You could hear the nails popping. It was like gunfire.” The entire building shook, she said — and then the floor collapsed, dropping about two feet. No one was injured, and the bank is closed “indefinitely.” (RC/Mitchell Daily Republic) ...Finally: an explanation of what “broke the bank” really means.
Original Publication Date: 13 January 2013
This story is in True’s book collections, in Volume 19.

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I believe humanity is held back by the lack of thinking. I provoke thought with examples of what happens when we don’t think, and when we do. This is True is my primary method: stories like this come out every week by email, and basic subscriptions are free. Click here for a subscribe form.

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