Introduction

Jim Grant: We finally find a central bank that is going broke and is willing to admit it, which I think is a step forward in monetary history. The Fed's broke, but it likes to hide it. This is the Ricksbank, the central bank of Sweden. Jim Grant: Even though the Fed didn't go negative, it is remarkably broke. It had a marked market loss of $1.125 billion, or $1.25 trillion,. against capital of about $42 billion.