Bill Holter is holding down the fort for the vacationing Ranting Andy Hoffman. In the latest round of interest rate hike shocks, the Fed lost over $200 billion just on their Treasury holdings. This doesn’t even take into consideration all the MBS and other garbage on their books that they paid top dollar for and theoretically has no value. Considering they only had a net worth of $65 billion, does this make them insolvent? Or does it matter when you can print up all the fiat currency units to your little heart’s desires? According to Nobel laureate Paul Krugman, a trillion here, a quadrillion there and pretty soon you’re talking about Swiss cheese.
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