This is Hacker News so use your imagination. Imagine if you were a start-up, and you could tell any investor, "I have a $1 billion guarantee from the Federal R

This is Hacker News so use your imagination. Imagine if you were a start-up, and you could tell any investor, "I have a $1 billion guarantee from the Federal Reserve". Are you saying that that would have NO VALUE, even if you never used it? Now imagine every other startup you compete against has this guarantee and you don't. What are your chances now? The dollar in your pocket has no value when someone else can be loaned $1T at any moment.