BANK RUNS

[Mortblanc]

There are billions being withdrawn SS, but it is not the standard "bank run" one would think.

Inflation has been so low for so long over here that interest rates have been less than zero! Money in the standard "bank account" draws %0.3 annually. That was about as good as it got so people were leaving their money in the accounts just because they knew it was "safe", guarenteed and whatnot.

With the latest boost in the FED allowed interest levels people are pulling money from their dormant accounts and investing it in money market and higher yield savings plans that are still safe but paying 4%-5% compounded daily.

The huge sums you are hearing are not desperation, fear of loss type panic runs, but they do show as massive withdrawals from the firms' books and look very bad if one does not keep the overall picture in perspective.