Hello full of rebel capitals, hope you're well! So this is absolutely unprecedented. Check out this chart. The account balances in the United States are plummeting. This is hard to believe. Let's go right

over to Twitter and my good buddy Ronnie Stofelay just published this or just tweeted this out.

And this is a chart of deposits, all commercial banks.

So if you take the deposits of all Americans

and put them into an aggregate total, this is what you get as far as the rate of change.

Okay, so if we have a positive number here, this is the annual change from a year ago. So, you know, in the

1970s as an example, we had the amount of deposits in 75, you know, 74 go from about 10% annual growth down to about 5%.

During this recession in the early 1980s, the big one I think 82, the increase in deposits was right around 5%.

You can see this big drop.

But look at what it is just done.

He's gone from a 20% increase year over year to a 5% decrease.

It's gone from plus 20% down to negative 5%.

Negative 5%. We've never even seen it negative, with the exception of 1995 and it just turned barely

negative for it didn't look it doesn't look like too long and it went down by you

it's negative by let's's say, 50 basis points.

Here we've got 5% and look at the drop.

I mean, this is absolutely staggering.

So what does this mean?

This means one of two things.

Number one, people are taking their money out of checking accounts.

Okay? Well, I guess one end two, they would be taking money out of checking accounts or deposit accounts.

That's the only way you could have this number, a negative number. But the question is, what are they doing with it?

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