Ahmedabad.
From: Sarbajit Roy <indiaresists@lists.riseup.net>
Date: Sun, Mar 11, 2018 at 8:10 PM
Subject: [IAC#RG] Fwd: URGENT : IMPORTANT : PRIVATE only for IAC subscribers (do not share or reblog)
To: indiaresists <indiaresists@lists.riseup.net>
For how long can the corrupt Modi media hold back the truth that most banks don't have ready money to pay back even 5% of their depositors now on demand. Its not only PNB and CANARA, banks like SBI, IoB, BoB, IDBI even ICICI are said to be very shaky and will fall like dominoes if the Govt fucks up in handling the crisis.
https://m.money.bhaskar.com/
From: Sarbajit Roy <sroy.mb@gmail.com>
Date: Fri, Mar 2, 2018 at 10:02 PM
Subject: URGENT : IMPORTANT : PRIVATE only for IAC subscribers (do not share or reblog)
To: indiaresists <indiaresists@lists.riseup.net
Delete it after receiving it. Do not share, retweet,reblog or discuss it. This is a PRIVATE message
DISCLAIMER: This does not constitute any kind of professional financial advice
We have all seen what happened in Nov 2016 when RBI could not honor its "promise" to repay their note holders ON DEMAND.
We got ...
Insolvency actually is inherent in the system itself, a system called fractional-reserve banking.
Nevertheless, a bank can operate quite nicely in a state of insolvency so long as its customers don't know it. Money is brought into being and transmuted from one imaginary form to another by mere entries on a ledger, and creative bookkeeping can always make the bottom line appear to balance. The problem arises when depositors decide, for whatever reason, to withdraw their money. Lo and behold, there isn't enough to go around and, when that happens, the cat is finally out of the bag. The bank must close its doors, and the depositors still waiting in line outside are ... well, just that: still waiting.
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