So… the Federal Reserve finally came clean about how much cash they doled out during the Great Financial Panic of ‘07-‘08.
Twenty nine trillion dollars.
Not the paltry (by current standards) amount that was authorized by Congress. That much is just a rounding error.
That being said, what did the Fed get in collateral? Anything? Nothing shows up on the Fed balance sheet, as it does when the Fed buys T-bonds/bills/note, or other securities. That being the case, there is no doubt that the currency will become worthless, but at least last year, before we knew of this massive gusher of dollars, we knew who borrowed the dough. Now? Is ANYONE obligated to actually pay this back? Does anyone have an accurate explanation?