Rafi Farber: Bank Of America Shows US Financial System on Brink of Catastrophe

Another week on the edge of war, another week on the brink of the financial abyss. Gold and silver continue to struggle as the rush for dollar liquidity heads towards a climax, with very weak megabank stocks exposing fatal flaws in the US banking system about to be revealed in all their glory. Bank of America’s unrealized losses are now over $130 billion, but they will quickly become realized if and when depositors flee as spare dollars are no longer available.

Does the market think this is actually going to happen? Judging by BofA’s abysmal stock price, yes. After that, there’s only one thing left to do.

Print trillions. And then watch gold and silver catapult into the stratosphere and beyond.

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