as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
if the u.s. defaults on its debt, what will happen to my bank money?
user
i have been through default in ukraine august 1998. that was a real nightmare. the financial system stopped working properly for 1 month, about 30% of businesses went bankrupt because of chain effect, significant inflation and devaluation of currency. so, it is better to be prepared, because this type of processes result in unpredictable situation.
assistant