Nothing says "Broken Money" quite like a central bank that is operating at structural losses now and has negative capital.
For the first time in modern history, the central bank of the world reserve currency is just structurally unprofitable.
I don’t get negative or positive capital at central banks. Isn’t it always infinite capital?
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No. They can create new liabilities to buy more assets, and can do that infinitely. But they can’t create capital out of thin air.
Sounds the same to me.
