Current banking crisis explained succinctly.
(media.greatawakening.win)
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This is exactly what happened.
Although one can argue that any bank that didn't reposition their position in Traesuries was their own fault for not seeing the coming wave of inflation that anyone with a brain saw coming.
I dont think they had a choice, The whole, issuing treasury debt, printing free money, lending it to banks and forcing them to buy treasuries - this is the staple of this scam.