Stress Test

Stress Test

Ben Bernanke: 'I Agree With Elizabeth Warren 100 Percent' On Too Big To Fail

Lest there was any doubt, Federal Reserve Chairman Ben Bernanke made it loud and clear on Wednesday: The problem of too-big-to-fail banks is still a major threat to the economy.

"Too Big To Fail is not solved and gone," he said during a press conference. "It’s still here." ~ HP ~

It has been estimated that there are about $400 trillion in securities floating around the various markets while there is only around $40 trillion in actual money to cover it. That means they have already failed. If we all decided to withdraw all of our money out of the banks we would quickly discover that it is not there. We would also discover that a lot of so-called rich folks would no longer be rich for most of their riches are purely imaginary. If you invest in a security that does not exist such as an SPDR and it appreciates in value you really have no material gain. You have nothing except a notation in a ledger. But that is all banking is anyway, isn't it? It is time for us all to withdraw our money from the banks. That is the only stress test that can matter isn't it? Either they have the money they claim on their books or they don't. If they don't then a crime has been committed and the perpetrators should be jailed. This is not that hard to figure out, just hard to implement for the banks have killed everyone who has tried. I remind my fellow Americans of Presidents Lincoln, McKinley and Kennedy. We all know why they were killed we all are also too afraid to even talk about it in public. ~ Dosadi ~