The Federal Reserve continues to bail out US banks as the financial crisis that kicked off last March continues to smolder behind the walls.
Banks borrowed an additional $2.2 billion from the Federal Reserve’s bank bailout program in August. This was on top of the $3.7 billion they borrowed in July.
In another sign the financial crisis continues to bubble under the surface, banks borrowed an additional $3.7 billion from the Federal Reserve’s bank bailout program in July.
Currently, there are $106.9 billion in outstanding loans in the Bank Term Funding Program (BTFP).
Peter appeared on Fox Business Claman Countdown to talk about the recent bank failures and the ensuing government bailouts. During the interview, they discussed how to invest in the current environment. Peter said that right now, gold is undervalued, but investors will bid up the price much higher when they come to terms with the reality of inflation.
Peter Schiff recently appeared on Brighteon.com with Mike Adams to talk about the failure of SVB and Signature Bank, the bailouts and the potential ramifications. During the interview, Peter explained the difference between SchiffGold and a lot of the other gold companies out there.
Peter Schiff appeared on the Capitol Report on NTD News to talk about the bank bailouts and the possible ramifications. He said that no matter what President Joe Biden and others tell you, Americans are going to pay for this.
The interview started with a clip of Treasury Secretary Janet Yellen assuring Congress that the banking system is safe. So, should we feel confident in our banking system?