Monday's Reverse Repo Test? - The Market Ticker:
"Are people really this dumb over at The Fed? It appears so, and begs the question - how big of a disaster are we about to undergo?"
Denninger asks an interesting question, and I think the answer is staring us right in the face.
The Banks Are Broke. Not just in the good old US of A, but in all of the Western World. Savers in the US are not the only ones that are going to be "holding the bag". China and the Arabs are going to be very pissed when they can't dump their worthless paper fast enough to avoid massive losses. Right now they have been content with slowly divesting themselves of "fiat currency" so as not to start a panic. But sooner or later someone is going to blink and the whole house of cards is going to collapse.
Just Sayin.
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