COMMENT: Some nice 2008 financial crises history and then to the present. Wells Fargo and other banks also have billions and billions of unrealized losses. They are all insolvent.
Interesting line: "Here’s what really crazy, though: where does the DIF invest that $128 billion? In US government bonds! So even the FDIC is suffering unrealized losses in its insurance fund, which is supposed to bail out banks that fail from their unrealized losses."...."Now there’s one bank in particular I want to highlight that is incredibly exposed to major losses in its bond portfolio.
In fact last year this bank reported ‘unrealized losses’ of more than $330 billion against just $42 billion in capital… making this bank completely and totally insolvent.
I’m talking, of course, about the Federal Reserve… THE most important central bank in the world. It’s hopelessly insolvent, and FAR more broke than Silicon Valley Bank."