https://void.cat/d/P3WRH6hy1m9RYwa13p9Y6U.webp
https://www.youtube.com/watch?v=VYzVi0zyJFw&ab_channel=BitcoinUniversity
Gustav: A very interesting video. It requires you to pay attention to admittedly boring details like accounting statements, but well worth it, in my opinion.
Is this an oversight? The US Federal Reserve essentially has the ability to make its balance sheet appear any way it desires.
The details of whether the Federal Reserve holds negative or positive equity are not material to its continued operation. However, the fact that, under their own rules, they have revealed this is quite interesting. It is another leak in the dyke that shields the institution from criticism. As more and more of these spring, credibility erodes.
Credibility is the foundation of our current economic system.
Did you know that virtually every economic metric, from GDP, to inflation, to unemployment, has significant shortcomings. Economists like to act as if they are working dispassionately- making decisions or recommendations based on data. But their systems would be like an engineer trying to make a recommendation for a material or structure, with no agreement on how to measure weight or angles.
Smoke and mirrors to keep the common folk from peering behind the curtains.
#federalreserve #insolvency #accounting #fiatmoney #economics
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