[color="Red"]RUN on USA Banks Already Underway

Have you wondered what those unprecedented negative non-borrowed reserves at Federal Reserve Banks really signify? Read this:

http://www.traderview.com/economiccommentary/tedbitsEconomicCommentary.asp

"In the United States a run on the banks has begun, foreign depositors and scared individuals are withdrawing their money in epic fashion. However, it is being held out of the headlines as the Federal Reserve applies its latest techniques to underpin the systemic risks to the banks and financial systems -- known as the Temporary Auction Facility, aka TAF. This is where the Federal Reserve acts as lender of last resort and has opened the borrowing facility window in an anonymous fashion, in order to prevent bank runs such as was witnessed with Northern Rock. This is the mechanism the central bank has created that will allow banks to take their most impaired assets and monetize them to meet the calls for withdrawal from depositors and maintain daily/weekly/monthly/yearly operations."

This is also being discussed at this forum:

http://www.tickerforum.org/cgi-ticker/akcs-www?post=29391