Mr. Pollock is a Senior Fellow at the Mises Institute, the author of ‘Finance…
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.
Meantime the central bank seeks to palm off on the public the idea that its staggering negative capital is a ‘deferred asset.’
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