THAT’S probably an overstatement, but if the recent numbers posted by the Federal Reserve Bank are correct, the American banking system has lost its entire cash reserve — about $50 billion! — over the last six or eight weeks.
To put it another way, if we read these stats correctly, the entire U.S. banking system is now being kept afloat with borrowed money.
Meanwhile, we’re watching a mysterious of bats in the U.S. and several unexplained phone and Internet outages in the U.S. within the last week, and a cyberterror preparedness drill in March that appears to target reporters and bloggers as potential threats.
Links and topics:
- American banks slide deeper into debt
- George Ure’s UrbanSurvival.com
- The Fed’s most recent figures for “Reserves in Depository Institutions”
- Historical figures for reserves in Federal Reserve Bank depository institutions
- Was the Air Force protecting the Bush ranch?
- Bats die by the thousands in Northeast U.S.
- Trains, bloggers threat in new terror drill
- Empire State Building car zap mystery
- India isolates 26 as bird flu spreads in Asia
- Who’s cutting the cables?
- Egypt: Ships did not cause Internet cable damage
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