Tracking cash for signs of a China banking panic

29 July 2022|

One of my favourite black-and-white movies is the 1946 classic It’s a Wonderful Life. It is probably just the monetary economist in me, but I particularly like the scene with the bank run on Bailey Bros Building and Loan Association. With just his honeymoon money left, George Bailey reasons with the depositors to temper their withdrawal demands, kissing Miss Davis when she asks for just $17.50! At the end of the day, the bank has $2 left and he and