The Fed Audit: What We Know

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The Fed Audit: What We Know

….The Fed accepted $1.3 trillion dollars in junk bonds, loans rated well below AAA, from major banks. Basically, when you or I go to a bank for a loan, we have to put up collateral that has some value, like our house. When these banks went in, they put up a piece of old lint and a sock as collateral. …

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