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196

2007 Financial Collapse 2.0?

(Bloomberg) -- Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure. . . .

2007 Financial Collapse 2.0? >(Bloomberg) -- Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure. . . . [Source Article](https://finance.yahoo.com/news/banks-borrow-164-8-billion-203000220.html)

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[–] [deleted] • 1 pt

The Fed is us. We fund The Fed. This is yet another bottomless pit bailout.

The equivalent of being forced to dig your own grave before you’re murdered in it.

[–] • 0 pt

The Fed is privately owned and is not us. The Fed loans money to the Dept of Treasury.

[–] [deleted] • 0 pt

Oh yeah? What do you think the fed does whenever they issue new currency? They issue it as debt, debt that must be repaid with interest.

[–] • 0 pt

Oh yeah? What do you think the fed does whenever they issue new currency? They issue it as debt, debt that must be repaid with interest.

Exactly. The government can't be in debt to itself.

[–] • 1 pt

"borrow"

And when they fail to pay back the 'borrowed' money, it's the taxpayer who's obligated to pay it back.

[–] • 1 pt

That's 8 times the amount of cash in circulation.