Our financial system is fragile, and our debt keeps getting worse. As Republicans, we need to be for balanced budgets and less spending, no matter who is in the White House.
People don’t know how close we are to disaster.
Rand Paul told it straight without beating around the bush. Bring a check for $1,000 to your bank and ask them to give you back all of your money.
bank only has 10% reserves. It lends the other 90%. That is called fractional reserve lending and it works until it stops.
When banks take CDs and offer you 2% interest while lending you money at 3% or higher (classic spread) it is easy to scale up and have banks lend 90% of checking deposits.
All it takes is one spark of panic for a bank run.
We saw a little of this with Silicon Valley Bank
