I have been watching a chart of Borrowed Bank Reserves for several weeks. The action is unprecedented.
Borrowed Reserves of Depository Institutions
click on chart for sharper image.
The NFORBES Chart above is courtesy of St. Louis Fed.
Here's an interesting excerpt from the book Investing Public Funds by Girard Miller about borrowed reserves.
*Thermageddon : Countdown to 2030
by Robert Hunter - 2003 - 300 pages
**Financial Armageddon blog:
Main Street's March towards Recession