Banks brace for huge loam losses as loan loss reserve are being increased while lending standards are being tightened. The theory that banks would continue to loosen lending and that hyperinflation would follow is being dis-proven. Something is happening within the banking system that shows 1 - that banks are not confident that endless bailouts will rescue them, or 2 - that banks are ready to cause further deflation by causing demand to dry-up by making borrowing more difficult by pulling back on lending and raising reserves. - NOTE: A few people were questioning the "no hyperinflation" remark I made. To clarify, there will be hyperinflation eventually, but only after a round of sever deflation. Banks tightening + job losses = deflation. Then they re-inflate the bubble after the decline bottoms out (AKA boom and bust cycles) this is how the wealthy become super wealthy. Also, on the oil to dollar ratio, what I was trying to convey is the dollars created are not limited by the amount of oil held (AKA a "fixed" ratio). Thank you to the commentors that raised these needs for clarification.
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