Savers get less
The closer short term rates are to long term, the less banks make
Meanwhile China is allowing their currency to fall along with global financial markets, lowering the prices of China exports = Manufactured good dumping via currency debasement to maintain domestic stability;
The tide went out, and most got caught naked
Monday, June 27, 2016; Minsky Aftermath; "Rome Mulls Capital Injection to Support Italian Banks After ‘Brexit’ Shock"
Sunday, June 26, 2016; "Central banks can fix liquidity problems, but they can’t do much about solvency"
Sunday, June 26, 2016; As England's pound falls, the US dollar rises, UK goods cost less for us, our goods more for them
Friday, June 24, 2016; RBC's Charlie McElligott; "It's "game over" for anybody out there who was short duration" and comment #BREXIT
Friday, June 24, 2016; BREXIT; The exact contents of a text concerning financial markets sent on June 17, 2016