Chart from Naked Capitalism…
Would a doctor prescribe massive blood transfusions… or… a heart transplant… or… a pacemaker?
But of course the problem is more complex…
The global money center banks are not lending to each other… individuals are withdrawing cash from the system… everyone is liquidating assets that can be converted to cash…
As others have said… mark assets to market… expose losses… let the terminal ones fail… recap the sound ones…
Good luck to our leaders… this is an enormous task … to remake the global financial system… you will make mistakes… please err on the side of protecting individuals… especially the poor… inflation is a harsh burden for those with very little…
And the global financial elite? Put them into retreat… drive them into darkness… expose the interconnections… the self-dealing… the false reliance on models… their control of the world’s central banking systems… the false premise of imposed “market stability”…
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