Camouflaged Bank Run.
1. This New York Times article, among hundreds of other articles, that does not mention the fact that for the first time, there are no assets in the banks other than government IOUs.
2. Somebody has taken $170 billion out of the banking system in the last year. Money continues to flow out of bank ‘reserves’.
Someone has put the word out to keep quiet this very significant withdrawal of money from the banks. It could be the government trying to avoid a panic. But if so, it is BS. The government should not be covering for insiders who are taking their money out while Mr. & Mrs. Smith get hung out to dry.
The New York Times makes the following statement:
“The nation’s banks are in far less danger than they were in the late 1980s and early 1990s.”
What do they base this statement on? Why did they make it? Stinky stinky.