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The fact that the U.S. banking system is awash with $2.6 trillion in excess reserves points to nothing more than U.S. Federal Reserve stock market manipulation.
For years, the amount of reserves in the banking system was flat, at least relative to the relentless surge Bernanke's tenure brought with it. Excess reserves were at $1.5 billion in February 2006 when Ben Bernanke stepped in as chairman. Under Bernanke, it grew $2.5 trillion.