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epicsurvivorSpeaking of the interesting times that we live in, have a look at this graph of Non-Borrowed Reserves of Depository Institutions, and take your best guess as to the extent of the financial crisis now facing the US.
Or, if your not a graph-kind of person, here are the raw numbers, as compiled by the FED Board of Governors.
What’s that? Oh, OK. Nothing to see here, folks. Back to sleep.
h/t George
More: Dollar Slips as investors await Fed Minutes
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And as if that weren’t bad enough, the entire monetary supply is backed ONLY by the good faith of the fedgov.
Just typing “good faith” and “fedgov” in the same sentence is scary.
Dang!
Talk about your tightening lending controls.
the graph has my complete and undivided attention. It is a more serious threat than terrorism, and is a more immediate and present danger than anything I can think of.