Nouriel Roubini is a genius. Think of it this way. Banks levered up to 40 to 1. Imagine a game of musical chairs where there are 40 people and only one chair. As long as the music is playing... nobody cares. But when the music stops, the 39 beat the crap out of the poor fool with the chair! Welcome to leveraged fractional banking. There is only 1 dollar for every $40 in debt. Better buy gold (but, can;t tomorrow... we need to celebrate presidents while the REST OF THE WORLD buys gold tomorrow.
Poop!