Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (18547)	4/29/2002 3:12:01 PM
From: Ilaine	Read Replies (1) of 74559

I had one of those "ah-ha!" moments today -- maybe it's obvious but I never thought of it before. The reason that the United States doesn't have bank runs anymore is not because of the FDIC (Federal Deposit Insurance) -- it's because there is no gold in the banks anymore. I've been looking at old annual reports from the Comptroller of the Currency -- the amount of gold in banks kept dwindling faster than the currency was going down.

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