I'd be concerned that one of the friends or their spouses could run off with everyone's money and leave the friends with no recourse.
A system where all funds taken out are technically promissory notes, with the mutual understanding that they're to be extended if they couldn't pay it back would be a little less vulnerable.
Even among immediate family, shared bank accounts represent a vulnerability.
Yeah, the system as is is probably dangerous because you have no solution to some asshole taking advantage. But the idea is fucking cool af, and you can totally design a new system around culpability.
I'd be concerned that one of the friends or their spouses could run off with everyone's money and leave the friends with no recourse.
A system where all funds taken out are technically promissory notes, with the mutual understanding that they're to be extended if they couldn't pay it back would be a little less vulnerable.
Even among immediate family, shared bank accounts represent a vulnerability.
Yeah, the system as is is probably dangerous because you have no solution to some asshole taking advantage. But the idea is fucking cool af, and you can totally design a new system around culpability.
That’s just a mutual aid society
Yeah it's a real question of trust