herger wrote "I don't think it has any significance to anyone else except monetary policy makers. People shouldn't pay too much attention to it."
People pay attention to it when thier bank deposits start getting frozen in their banks when there is a run on deposits, as whne banks look like going bankrupt as happened in australia in 1893 when not only banks defaulted but one of the States defaulted to the Nation and I think Australia was in default to the bank of England but not sure of that.
