Illinois To Borrow Another $2 BIllion From The Fed, Only State To Do So

Source: https://www.zerohedge.com/markets/illinois-borrow-another-2-billion-fed-only-state-do-so
Published: Nov 28, 2020
Author: Tyler Durden
Post Date: 2020-11-28 14:06:09 by Horse
Views: 102

Only one state or city in the entire country has borrowed from the facility since its inception: the state of Illinois

Poster Comment:

The Fed has a Discount Window which it used to buy trillions of dollars in bad and fraudulent loans from member banks. It could buy all the bad debt of the states and cities. Of course they would have to inflate the currency and your silver dollar would be worth $100 in Federal Reserve Notes.

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#1: Darkwing    To: Horse (#0)

Back in the 70's New York City borrowed from the feds, a lot.

Darkwing posted on 2020-11-28 14:40:10   Reply   Private Reply