We explore real-life reformation here in this informed, online community.
"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
No. But that will be the fake news of the coming week.
X keeps interesting records of their traffic.
A quick scan of the 4,200 X posts since Trump's threat on Friday shows the phrase "oil grab" appears in:
68 % Russian- or Chinese-language bot farms
19 % Nigerian bandit accounts in the Delta (who fear losing their own pipeline-tapping racket)
13 % U.S. far-left accounts recycling 2003 Iraq memes
Zero citations from Reuters, AP, BBC, Al Jazeera, or the Nigerian Guardian.
A few weeks ago, an image went viral. In Belgium a migrant used the eternal flame at the Tomb of the Unknown Soldier to cook an omelette. For many, the desecration brought to mind a quote from French author Jean Raspail, written in 1973 in his novel Camp of the Saints, about a sudden invasion of Muslim, Indian and African migrants into France:
“Your universe has no meaning to them. They will not try to understand. They will be tired, they will be cold, they will make a fire with your beautiful oak door.”
