Report: Fed's Secret Repo Loans to Megabanks in 2020 Eclipsed 2008 Bailouts...• Bitcoin.com
Following the controversial bank bailouts and Troubled Asset Relief Program (TARP) in 2008, reports show in late 2019 and 2020, the U.S. Federal Reserve participated in providing trillions of dollars in secret repo loans to megabanks. At the end of March, investigative journalists, Pam and Russ Martens from Wall Street on Parade, uncovered $3.84 trillion in stealth repo loans from the Fed to the French financial institution, BNP Paribas in Q1 2020. Additional data indicates that the U.S. central bank leveraged secret repo loans to provide a whopping $48 trillion to megabanks in late 2019 and into 2020.
Reports Show the Fed Funneled Tens of Trillions to Megabanks in 2019 and 2020
While Wall Street eagerly awaits the Federal Reserve's next benchmark rate hike decision, a number of investigative reports show the U.S. central bank participated in massive bank bailouts that are of biblical proportions. The first report stems from Wall Street on Parade's Pam and Russ Martens, which accuses the Fed of secretly loaning the French megabank BNP Paribas $3.84 trillion in the first quarter of 2020.
The Martens' findings highlight many more secret loans that come from a data dump derived from the New York Federal Reserve branch. The data dump showcases secret repo loans from the Fed to megabanks from September 17, 2019, to July 2, 2020. The Wall Street on Parade authors say the media has not reported on the data dump at all.