By
Lowell Ponte
Tremors
from the earthshaking Russian-U.S. confrontation over Crimea are now revealing
just how vulnerable our banking system and economy are to collapse... and how
this far-away crisis has greatly increased the threat to ordinary savers in the
United States and worldwide.
While
President Obama was threatening to seize Russia's assets in the U.S., Russian
President Vladimir Putin, in the past few days, apparently successfully
withdrew $105.1 billion in U.S. treasury notes that Russia had deposited with
the U.S. Federal Reserve. This may be the biggest 'bank run' ever on America's
Central Bank, and it signals that many more bank runs are soon to come. Russia
has taken these treasury notes – the bulk of its U.S. holdings – out of the
country, and beyond President Obama's power to seize or freeze them as a
bargaining chip with Russia. [more...]
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