I’m willing to bet this goes very bad for the Fed.
Spoiler alert: It’s Myanmar’s money to withdraw, and the money isn’t there.
Watch what happens.
Fed is backed into US treasurey. US treasurey. Fed closed since march last year.
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ohhhhh - at first read i thought it was implyingt that US rejected the request bc mynamar military were the bad guys and my brain almost exploded bc i cant keep up
but ur take is that it's because fed has no money to withraw?
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They can't withdraw their own money? Is the fed under the fractionary system too? 🤔
well that's interesting
was it myamars money or child traffiking money of the elites? i would wait before getting crazy! leaders were hooked to Clinton foundation and child traffiking!
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the leaders were. the military wasnt. the money is myanmars. to deny means one of two things. casey is right and the fed cant cover it or there are sanctions in place because of the coup. my guess it wont matter cuz itll be spun through the media.
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Looks like they don't have the liquidities to give them back their total amount, likely, they used most of Myanmar's cash for their own gain through investements. All the banks do this and by law, they are only obliged to keep a fraction of the money.
They should technically be able to use cash from other clients to pay back Myanmar but their refusal implies that they do not have this option.
This means that, it Myanmar insists, we may have a bank-run incoming at the fed level.
wow.
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wow!
