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UM Ross's avatar

Fractional reserve banking is an intrinsically dishonest enterprise, and we made it much worse in March of 2009, when we effectively legalized accounting fraud by the banks.

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HeldFast's avatar

So many are going to cash, exchanging bond funds for MM settlement funds, buying ST Treasuries and creating TBill ladders, recommended in various financial forums, so in one sense citizen taxpayers are either contributing to the liquidity problem or funding the rescue. Repos are now a percentage in MM funds which is new (eg VMFXX)

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