The Federal Reserve is Bankrupt
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Descripción
After the pandemic, the Federal Reserve expanded the money supply significantly to support a swift economic recovery. It did so by purchasing vast amounts of US Treasury bonds and mortgage-backed...
mostra másNow, the Fed has raised the interest it pays to 4.55 percent on ONRRPs and 4.65 percent on bank reserves, but the rates it earns on its QE purchases remain mostly unchanged. Assuming, as a rough approximation, that the bonds it purchased pay an average rate of 1.75 percent, and the average rate paid on bank reserves and ONRRPs is 4.6 percent, then the Fed is paying about 2.85 percent per year more than it receives on its $8 trillion dollar securities portfolio. That’s a loss of $228 billion per year. As this contributes to the worldwide decline of the US dollar, the situation could also spiral us toward a new credit crunch and another major recession.
Dr. Jerome Corsi delves deeply into what's happening, the ramifications and what you need to know.
Visit Dr. Corsi's The Truth Central website: https://www.TheTruthCentral.com
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Información
Autor | Dr. Jerome Corsi |
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