Rafi Farber: Fed Panics on BTFP as 16.2M Ounces of Silver Flood SLV

Effective immediately and in a move that smacks of panic, the Federal Reserve has shut down the arbitrage from the Bank Term Funding Program (the regional bank bailout) banks have been taking advantage of since November. Banks have been turning in underwater Treasurys for cash at 4.8% and stuffing that cash back into their reserves, earning 5.3%. if the Fed wasn’t expecting this and had to shut it down “immediately”, what else are they not expecting?

Meanwhile, Texas is defying the Biden administration setting the stage for an imminent showdown, silver is flooding back in to SLV, and 4 major bank executives are warning of major monetary sewer problems sometime between March and May.

The plot thickens.

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