Banks avoiding taxes, still

 

See that last jump in in excess reserves?  That is money returned to the fed because  the seigniorage tax is still increasing.

Some economists may be in denial, the the fed board is plenty worried about shutting down the banking sector.  Plus i am now up to three research reports that discuss this problem, one way or the other.

So, science is coming for the frauds, be careful when claiming money is cheap, you tribe will turn on you when the truth is discovered. And there are fewer and fewer economists claiming money is cheap.  

Also note  deflation  resurged a few days ago, oil now $36.  We are having multiple quarters of lower income taxes and increasing bank taxes, and more economists are getting clues about that problem.  I doubt the 'cheap money' liars will last through the election.

What about a rebellion of the regulated banks? That could very well be happening, they are certainly giving up on the tax dollar according to this chart.

For example, some clueless philosophy student might blurt out the 'cheap money' fraud and be uncovered as a true dummy.