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This sounds somewhat ominous. Financial system sounds like if an unplanned event, like war in the ME happens, it could send things over the edge.
Be an interesting year next year in many respects.

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puff 8 Dec 2
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Level 7

YAWN.
I did my Senior Enrichment paper on bank closures/depressions. There is one major one and several smaller ones every decade like clockwork since banking was invented.
The FDIC system took most of the catastrophic nature out of them.

Would love to see them all realise their paper assets at the same time.

@puff not physically possible even with modern computers.....and most loans are actually backed with tangible assets as per law, the major failures nowadays iMO are due to hanky-panky in this area and well-deserved.
1

Level 9

So we need this Russian lady to inform us about U.S. banks and unrealized loss?

Who else will? You may fact check her, she presents her evidence ie official US data publicly available.
1

Level 8

the bank have been going broke for the last 3 years so they say but if the federal reserve makes money out of thin air...how can they ever go broke. i guess like in monopoly if you own all the property and the have all the cash the game is over

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