Last week Bloomberg reported the Fed published reports on the scope of borrowings and emergency funding. They described these loans as “secret” because the details of dates, interest rates, quantity and loan amounts and actual borrowers were undisclosed. The Bloomberg commentary suggsted this was done on purpose to avoiid a global run on banks. It has also been reported in media that UK and Australia have run out of paper money and stated to print more blaiming the lack of cash in the system.
