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"The Federal Reserve is already insolvent.
According to its most recent annual financial statements, the Fed has just $51 billion in equity, versus a whopping $948 billion in mark-to-market losses. This means the Fed is insolvent by roughly $900 billion.
This is a big problem. Remember that the Fed is still a bank, i.e. it has financial obligations, liabilities, and depositors that it needs to pay.
For example, commercial banks like JP Morgan and Bank of America have deposited a total of $3.4 trillion of their customers’ money, i.e. YOUR money, with the Fed. And the Treasury Department holds another $700 billion deposit at the Fed.
The Fed owes money to foreign governments. They owe trillions of dollars from repurchase agreements to banks and businesses across the global financial system.
So, yeah, the insolvency of the Federal Reserve is a pretty big deal. Yet, at least for now, no one is saying a word about it.
ETIENNE DE LA BOETIE2
“I pray Heaven to bestow the best of Blessings on this House and all that shall hereafter inhabit it. May none but honest and wise Men ever rule under this roof.”
John Adams (The first president to move into the White House)
Exodus 18:21
Furthermore, you shall select out of all the people able men who fear God, men of truth, those who hate dishonest gain; and you shall place these over them as leaders of thousands, of hundreds, of fifties and of tens.
April 7. 0206 PM
“A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will."
Donald Trump
"What has happened in [Hungary], what has happened in the midst of this election campaign, is one of the worst examples of foreign election interference that I've ever seen or ever even read about," Vance said during a press conference alongside Orbán.
"The bureaucrats in Brussels have tried to destroy the economy of Hungary. They have tried to make Hungary less energy independent. They have tried to drive up costs for Hungarian consumers. And they've done it all because they hate this guy," he added.
It is five days to the election.
