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Category: Fast Facts

Lee Adler’s brief observations on the market, economy and financial system with illustrative charts

Banks Fleeing Banks in Europe - Click to enlarge

Disaster In The European Banking System Exposed

ECB data on bank deposits for the Eurozone shows total bank deposits down sharply in July, breaking the uptrend in force since the low in 2014. That’s shocking considering that the ECB just boosted its money printing QE programs. Deposits should be rising steadily in concert with the amount of QE, not falling. But cash extinguishment and capital flight are increasing faster than the ECB can print.