[Arthur Wildfire! March]

I see no one countered your specificity, kabar.

So the question is [I guess], how much loan money was defaulted? And I’m asking around: does the Fed get freshly printed currency? Or is it involved in quantitative easing?

[kabar]

There were no losses by the Fed given the swap arrangements. They just hold the foreign currency and can exchange it back at the fixed rate it provided the dollars.