That carries into the banks HEAVILY, I think it is criminal how little is kept onhand. We've taken fractional reserves into uncharted territory towards the extreme. There is only 43 billion in reserves!
All that is needed is one of those calls to unwind or go badly, and we'll see something the size of Wells Fargo or BOFA explode instantly. I could see that as the trigger to a meltdown.
It would make that bank meltdown in England a few years back look like nothing. He took that bank down with a few billion in derivatives that unwound on him.
That would spook everything heavily.
