The Feds are paying $723 million PER DAY to commercial banks on reverse repos and interest on reserves. A few years ago, the Fed used to be profitable and sent its profits to the US Treasury.
Recently, to keep everything from collapsing, the Fed has been forced to create more and more programs to support the House of Cards. This has resulted in this crazy system where the Fed is losing $723 million daily to hold it all together.
But you get to pay in the end.
That helps explain how Powell & Co. have managed to lose $105 billion – and you’re paying for it: pic.twitter.com/Cj9b7yRnNC
— E.J. Antoni, Ph.D. (@RealEJAntoni) September 28, 2023
Bidenomics – Democrat policies – might be working as they planned.
Help … pic.twitter.com/s96KiBZRh7
— Wall Street Silver (@WallStreetSilv) September 29, 2023