Pssst...this is a bail in. And if the TBTF banks are telling large clients to move their money, my guess is that these very same banks (who hold the largest derivative positions) also know that some of those derivative trades are about to go bad. Look no further than the new legislation they are trying to cram through into law right now that makes CITIZENS responsible for bad derivative trades. Translation - the big guys are being told to leave now. That means the banks have a much smaller amount of cash deposits to work with, so you can kiss your money goodbye in a crisis.
Posted on: Mon, 08 Dec 2014 16:54:55 +0000
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