Another piece of amazing information provided by Kim of United News Network on the 6th January 2023 report was that the Fed no longer has any agreements to print dollars:
The above is an extract from a news report on United News Network (UNN).Please subscribe to United News Network - as subscriptions are used to fund improved education systems
This is means the days of the Fed (and other central banks are numbered! The Fed may even be on the brink of bankruptcy - here is George Gammon
He explains an accounting gimmick used by the Fed to conceal its losses (and insolvency) - a deferred asset called Remittances to the Treasury.
I checked the Fed website. They publish lots of info included audited accounts (the last was 31st December 2021) - only unaudited quarterly statements are available which shows this:
Insolvency arises when liabilities exceed assets, but a company can continue to trade even if insolvent, if there is a reasonable likelihood of turning the situation around. It is always a close call as to whether to declare bankruptcy - or to continue activities despite being insolvent. We shall see what happens!
As Kim says, the same event could be seen as a white swan event - or black swan, depending on where you stand!
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