Texas Brings The End Game To Life

RRPs Down To $550B, Fed Closes BTFP Arbitrage Hole in a Panic

• RRPs down $82B to $558B, a 13% drop from yesterday, ground zero still projected around March.

• Fed losses reach over $1.3 trillion unrealized, with realized losses at $141 billion. BTFP ending March 11 means $80B in loans paid back by April 5.

• European banks monitor social media for bank run threats.

• Texas will hopefully provide the spark of positivity needed to get through the End Game skirting the worst of the possible scenarios.