Banks take 350 Billion in 4 days from the FED

This image shows 22 Billion Dollars. Keep that in mind as you read this story.

22 Billion Dollars

What was happening in the banking community?

They have this overnight lending system. All of the banks have to have a certain amount of cash on hand. Every night, they look and say, “how much money do we have?” Then, they call Citibank ( for example) and ask them to borrow 10 billion dollars and buy it back tomorrow morning. It happens all the time. Banks loan each other money every single night.

The overnight interest rate should be about 1.75%. As of Monday, (Sept 20th) that interest rate jumped to 10%.

Imagine you borrow 10 billion dollars from another Bank and in the morning, you owe them 11 billion. No one had enough money, they were all calling each other

So, the Federal Reserve knew this and they just casually made an announcement, “We're gonna loan 55 Billion dollars”. But, when the time came, the banks needed 65 Billion dollars for the night. Then, the next night (Sept 21) the Fed decided to do it again. They offered 65 Billion dollars. Now, they needed 75 Billion dollars.

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The banks are not paying them back the next day. The Fed is just buying assets

It happened Monday night Tuesday night, Wednesday night, and Thursday night.

75 billion dollars per day, from the Fed, extended in those 4 nights: 350 Billion dollars.

JPMorgan Chase has taken 52 billion dollars in cash and new capital from the Fed (as of this printing). That is 22% of what the entire company is worth.

They're doing it quietly and have already spent half of the cash that they spent for TARP and they did that in four days. But, no one is talking about it.

“We're the richest nation in the world”! Are we? We have more debt than anyone has ever had, at any time, in all of human history.

Those banks put you as the last person to get their money. You'll get your money through the FDIC (which will mean more printed money). Meanwhile, the great stories of the day are: “Burger King removing ham from the word hamburger to avoid offending Muslims”.

What’s wrong with us? Get “woke” friends, or we’ll wake up in a Socialist Nation one day soon. It will be so bad, we’ll actually welcome it.

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