"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
How Banks Go Bust
Submitted by Westernerd on Thu, 2013-03-28 03:00
Suppose that a convincing orator should go on TV tomorrow, and urge the public: “People of America, the banking system of this country is insolvent. ‘Your money’ is not in the bank vaults. They have less than 10% of your money on hand. Get your money out of the banks now before it is too late!” The banking system would be destroyed tomorrow.
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