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IPFS News Link • Central Banks/Banking

You Will Be Shocked By How Much Money Is Being Pulled Out Of U.S. Banks...

• http://theeconomiccollapseblog.com, by Michael

A trillion dollars is a lot of money.  If you stacked a billion dollar bills on top of one another, the pile would be 67.9 miles high, but if you stacked a trillion dollar bills on top of one another the pile would be 67,866 miles high.  And if you lined up a trillion dollar bills end to end, the line of dollar bills would be a staggering 96,906,656 miles long.  That is longer than the distance from the Earth to the Sun.  A trillion dollars is such a vast amount of money that it is truly difficult to comprehend, but as you will see below, that much money has already been pulled out of "vulnerable" U.S. banks over the past year.  Hordes of small and mid-size banks are now in trouble, and that is really bad news because those institutions issue most of the mortgages, auto loans and credit cards that our economy runs on.  The other day, I asked my readers to "imagine what our country will look like if the banking system implodes and the economy plunges into a depression", because if our banks continue to collapse that is precisely where we are headed.

Unfortunately, the recent banking panic has greatly accelerated matters.  In fact, a whopping 98.4 billion dollars was pulled out of U.S. banks during the week ending March 15th…

The readout, released shortly after the market closed Friday, came around the same time as new Fed data showed that bank customers collectively pulled $98.4 billion from accounts for the week ended March 15.

That would have covered the period when the sudden failures of Silicon Valley Bank and Signature Bank rocked the industry.


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