The proposed debt swap with NATO countries would involve swapping $1 billion of treasuries for $1 billion in zero-coupon, non-marketable century bonds (maturing in 100 years with no interest), which puts those countries in a worse financial position unless the Federal Reserve offers a lending facility where it will provide a par-value repo loan against those bonds to maintain liquidity

causalpending

Speaker

Jim Bianco

Evidence Quote

well doesn't this...put them at a worse financial position the Federal Reserve comes in they can offer a lending facility you give me a billion dollars par amount of those bonds I will give you a loan a repo loan for a billion dollars if you need liquidity it will be at par there will be no unrealized or realized loss

Source

MacroVoices #467 Jim Bianco: The Mar-a-Lago AccordBianco Research
Created: 8/11/2026, 7:52:47 AM

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