![]() ![]() ![]() So was the largest Swiss bank Credit Suisse? The largest Swiss bank, Credit Suisse, were they on that list? Oh, yeah. All of these are the largest borrowers from the fed. BNC Paribas, the French Bank, Barclays Bank out of the UK. Some of the largest borrowers in the past 20 years from emergency loans from our Federal Reserve, have been foreign banks, and investment firms. But this was enough for the fed to print $1 trillion in new currency and loan it out to the banks, considered too big to fail. At this point, all that had really happened to the economy, was that stocks, you know, the forward-looking investment vehicle, were declining. Remember, this is two weeks into the pandemic. Distributing a total of $1 trillion, $1 trillion in emergency loans to banks in just a six-day period. And within a couple of days, stocks were down another 1500 points, she got $4 trillion in wealth from the portfolios of Americans in just a couple of days. But then the first death started being reported from covid at retirement homes. Federal Reserve made $112 billion in emergency loans, to 24 banks. So on March 10th - and we know this now, because two years have passed, the U.S. So, for example, on March 9th, the Dow lost 2,000 points, and more than ten percent of its value. Well, investors, if they knew in realtime, these banks needed cash, it would cause a run on the banks. So they say, that's not make sure that nobody is panicking. #They are billions trainer full#Because the fed isn't - they're no longer required to tell you who they're making loans to or for how much, until two full years after it makes the loans. We didn't learn about those loans, until two years later. Now, it's important to remember, that we didn't learn about these emergency loans made during March of 2020, just as the WHO and the CDC were declaring a pandemic. That are banks that are just too big to fail. March 10th, the very next day, the Federal Reserve began making emergency loans to what were considered to be systematically important banks. More than $1.8 trillion was wiped out from US the pension and retirement funds in a single day. At the time, it was one of the largest single day declines in the US history of stocks. That's more than a 10 percent crash in a single day. March 9th, the Dow Jones Industrial Average lost 2,000 points. Back in March 2020, right at the dawn of the covid-19 panic, some interesting things happened on Wall Street. One of the things that's happening in the market is you've got two big banks, Deutchse Bank and Credit Suisse that are about to default, or at least it looks like it. And talked to some experts, took me a couple of days, to get to a place to where I could really explain it to you. GLENN: Now let me talk to you a little bit about something that came up over the weekend, and I have been trying to figure it out. Below is a rush transcript that may contain errors ![]()
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