Only the top four banks are profitable enough to be considered “solvent”. Ultimately the fed itself has not had an audit for the past 50 years and Nixon defaulting on its gold debt to the British was the proof of its insolvency, But we both (The British and the Americans) mutually benefit from this mutual insolvency.  What is interesting to see is this new demand for T bills from digital stable coin tokens like tether. What happens when China launches a new digital stable coin based on its US forex reserves?