Yeah it's ugly. Yeah I think transparency would be good. Here's my question. Say it goes exactly like you are predicting and taxpayers learn of collusive and cozy relationships between fed and banks. How does that help FAZ again? I mean if we end up learning that our glorious leaders have decided US financials WILL NOT fall until everything does.....where does that leave FAZ?
If the FED has actually assumed the toxic waste on the banks books by loaning out treasuries to banks and then giving those same banks interest income on those same reserves (a recent gift given by the FED), it will reveal how phony the banks' reported health and income statements really are. Not only that, but there may be a taxpayer revolt of sorts when people review all those generous salaries of the big bankers when banking operations are seen as one big charade. There will be demands that bank owners, operators, and stockholders take a hit rather than taxpayers at the hand of the FED.