European Central Bank Monitoring Tweets To Ensure Bank Runs Only Happen to Small Banks
The European Central Bank has asked lenders and intelligence agencies to monitor social media posts to ensure that only smaller banking institutions suffer from coming bank runs. The goal of the new initiative is to further consolidate the banking industry, in the same way central banks have been working to consolidate every industry. The Central Bank has requested the mods to censor anything attacking larger banking institutions, and promote anyone attacking smaller banking institutions.
This appears to be a great buying opportunity for large European banks like HSBC, BNP, Barclays, Deutsche Bank, as well as other larger European banking institutions. While the play could be very lucrative for the large bankers, the attempted, "Controlled burn" of the European banking system, could wind up causing a horrible forrest fire across the entire European banking sector. It could get so bad that the only solution would be to shut down the entire global banking complex for two weeks to stop the spread of bank runs.
Christine Legarde, president of the ECB stated that, "There is very little reason to believe that our attempt to undermine small banks to consolidate the banking industry further will spread into a pandemic of insolvency across all banks. That being said, we would suggest that when people go to their local bank, they should social distance and wear a mask just to keep the entire system safe."
Her words of reassurance have definitely calmed a market that has been biting its nails, as individuals are being bombarded with more than the normal amount of psyops.
