Mr. Pollock is a Senior Fellow at the Mises Institute, the author of ‘Finance…
Yet it turns out that the president still isn’t the boss of America’s central bank.
The central bank has lost all its capital more than four times over, and its real capital today is negative $158 billion.
These losses have been racked month by month — every month — since 2022.
It’s been half a century since the collapse of the Bretton Woods gold exchange standard — how do we like the results?
The central bank is in circumstances that the authors of Dodd-Frank failed to anticipate — it’s been operating at a loss.
Central bankers whistle ‘Dixie’ as mark-to-market losses dramatically shrink the banking system’s economic capital.
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