The Federal Reserve has never run a quasi-fiscal deficit (operating loss) in its 112-year history until recently, and the last central bank in the United States to do so was the Confederate central bank during the Civil War, whose currency subsequently became worthless.
factualpending
Speaker
Luke GromanEvidence Quote
“The Fed has never run a quasi fiscal deficit, aka an operating loss, in its 112year history. Never. Last central bank in the US reportedly to do so, according to my friend Jeffrey Fry, was the Confederate central bank as they were losing the Civil War.”
Source
Why is high debt different now v. prior instances of people “fear-mongering” about the debt?— Luke Gromen - FFTT, LLCCreated: 8/11/2026, 7:46:30 AM
My Notes
Loading notes...