If you’re wondering how a system-wide banking failure could suddenly spring up on the Federal Reserve without warning, wonder no more. The Fed conveniently forgot to stress test banks for rising interest rates. Had they done so, they would have discovered banks would fail, which would have triggered bank runs anyway, so as they say, damned if you do, and damned if you don’t.
In other news, #gold and #silver are finally decoupling with stocks and seem to rise on every piece of negative banking news. Imagine what happens when the next global systemically important bank fails. Imagine big numbers.