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<p>[QUOTE=&quot;medoraman, post: 1206871, member: 26302&quot;]Ok, did you talk to your friends about how much they would have to lend if their balabce sheets were destroyed by a Fed default? Most banks keep sizable amounts in Fed instruments, and without that money would have zero to lend. That is the assumption I have already made, since I know operations in most banks. Take away their Fed instrument balance, and working capitol lending ability disappears, and with no working capital access millions of small to mid sized business jobs disappear.[/QUOTE]</p><p><br /></p>

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