The Federal Reserve Bank is losing $758 Million PER DAY paying Interest to commercial banks on Reverse Repos and Interest on Reserves. Those losses just reached $100 Billion -- with a "B."
Before all of these wild financial games began, the Federal Reserve would send its profits to the US Treasury each year; it was usually a few Billion Dollars each year.
Now, the Federal Reserve has massive paper losses on their Bond portfolio and masses daily losses on the money it has to pay to commercial banks to keep the system from falling apart.
Federal Reserve Chairman Powell and company have managed to lose a whopping $100 Billion . . . and YOU are paying for it.
It is difficult to overstate the level of sheEr incompetence needed to have a money printer . . . and still lose money. Here, look:
Next stop: -$200 Billion.
Hal Turner Editorial Opinion
When a country's Central Bank starts literally LOSING money each and every day . . . countries around the world will start to notice really fast. Especially when there is no sign at all that these losses will stop.
So how long do YOU think countries around the world will continue to accept "Federal Reserve Notes" (i.e. the cash in your wallet) as payment for goods and services, from an entity which is literally Bankrupt?
Sooner or later, those countries around the world will no longer want the paper with pretty pictures on it, masquerading as "money."
I have no idea WHEN that refusal will start, but given what's now taking place at the US central bank, I suspect it will not be long.
Now, that paper with pretty pictures on it will still be accepted as "money" here in the US, but . . . . we don't manufacture very much of anything in this nation anymore. We import most of the things we consume because the Brainiacs of corporate America decided it would be better to outsource manufacturing to other countries.
Those corporate Brainiac Titans never stopped to consider the effect on the nation as a whole, they were only interested in how much extra money they could put in THEIR pockets by outsourcing manufacturing overseas.
So now, the Brainiacs are wealthier, and the country - and its currency - is going down the tubes.
So when you see those corporate Titans, and admire how much wealth they have, remember, they wrecked the entire country to get it.
Turns out, they weren't nearly as smart as they thought they were; they were just greedy, dumb, fucks.
In case you're not certain about whom I am speaking, it's all those "FREE TRADE" dingbats.
So head back into search engines like Google, and start looking up "Free Trade" and watch whose names come up. Then you'll know who needs straightening out on a personal level.
UPDATE 12:28 PM EDT --
I just got a communication from someone WAAAAAAAAAY up in the financial sector. He told me this situation is causing almost panic in a LOT of financial firms. He then told me, verbatim, the following: "The parasites are looting the place on their way out the door. They know the jig is up."
