As I’ve said before…
“Just wait until people find out that they can’t get their money out when the SHTF.”
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– Money-Market Fund Assets Hit Record Highs, Banks See Large Deposit Outflows As Stocks Crashed:
As stocks continued to crash last week, money-market funds saw a second week of significant inflows (+$28.4BN) which together with the prior week’s $52.7BN, pushed total MM assets under management to a new record high of $6.216 TN…
And while bank deposits also saw (huge) inflows the prior week, the week-ending 8/7 saw seasonally-adjusted (SA) US bank deposits plunge $77BN – the biggest weekly drop since Tax Day in April…
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