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I think that its important to understand the facility that the FED created so what the FED did this weekend is essentially create a buyer of Last Resort again if you look at all of the assets that are underwater because of all the rate hikes that sax talked about and you add up all those losses that is about two trillion dollars and the FED didnt denounce that there was a beginning and an end to this program other than saying these would be one-year loans and so I think the exposure for the American banking system at a minimum is going to be this two trillion dollars [Music] hey guys welcome back to Library of wealth today we have chamoth on the all-in podcast discussing some of the most pressing issues facing the banking industry today shamath shares his take on the federal reserves latest move to create a buyer of Last Resort facility which allows Banks to exchange their underwater assets for a loan that is valued at a dollar with added interest chimath also raises some concerns a