Paul Brodsky on King World News:
“We have fractional banking and there isn’t enough reserves in our banking system to cover the debt, let alone repay depositors should everyone come in at the same time for their money. Now we are starting to see this play out and I don’t think that MF Global story has permeated the psyche of Americans, but I think there’s a general unease of confidence.
"Certainly among investors we see this (unease of confidence) in volume and daily participation and trading. Investors are leaving the financial marketplace. I think it’s ringing loud and clear that we are seeing the status quo system of commercial trade and transactions and monetary settlements start to fade."
[MF Global continues to be a historic point, folks.]