P.I.D. Radio 2/3/08: Your Bank is Broke


THAT’S probably an overstatement, but if the recent numbers posted by the Federal Reserve Bank are correct, the American banking system has lost its entire cash reserve — about $50 billion! — over the last six or eight weeks.

To put it another way, if we read these stats correctly, the entire U.S. banking system is now being kept afloat with borrowed money.

Meanwhile, we’re watching a mysterious of bats in the U.S. and several unexplained phone and Internet outages in the U.S. within the last week, and a cyberterror preparedness drill in March that appears to target reporters and bloggers as potential threats.

Links and topics:

Click the arrow on the player below to listen now, or right-click (control-click if you have a Mac) the “download” link to save the mp3 file to your hard drive.

1 comment on “P.I.D. Radio 2/3/08: Your Bank is Broke

  1. Pingback: Weapon of Mass Distraction » Blog Archive » Your bank is broke

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