Re: $175 billion just printed and the Bitcoin price goes down!
⭐ Merited by o_e_l_e_o (1)
FED is not bailing out banks.
Capital markets are well functioning and banks were trying to cover a massive reserve drain of roughly 170 billions in a few days (equivalent to the while bitcoin capitalisation, btw) because of a large fiscal payment date is approaching for many corporate in the US.
Overnight rates were going up too fast, too quickly, so the FED downplayed the move with one of his tool.
I can go very technical on this if you want, but believe me not to read too much into that.
Well, without going into too much detail about this, we can see that governments are manipulating the value of your wealth. Bailouts and rescue practices are either hiding the real problems or they are postponing the economic collapse.
So tax payers money are used to serve as a safety net for greedy financial institutions and the general public are paying for it. The Banks and the Reserve Banks are part of the problem with the fiat system and the government are protecting them.
