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A US deposit account is a credit product, and cannot be made otherwise without breaking it.
Drawn from what Patrick McKenzie said
SubjectAmerica
What Patrick McKenzie actually said
- Patrick McKenzie Software engineer and writer, known online as patio11
For one thing, typical deposit accounts in the U.S. are actually credit products. It's baked in and can't be baked out without making them unfit for purpose.
Where this was said
↗Debanking (and Debunking?)bitsaboutmoney.com
All 5 korrents from this piecethis one is 3rd
Added to korrents 7 Sept 2026 · How quotes work · Something wrong? Tell us
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