The Survival Economist
Premiered Jun 6, 2022
If it smells like QE, if it sounds like QE, if it looks like QE, it is QE. Trying to solve a debt problem by creating more debt.
Economist Mohamed A. El-Erian calls it QE Lite. The Federal Government has grown so large that it is sucking the liquidity out of the system. They sell Treasuries, and to replace the liquidity sopped up, and the Fed has to go buy them back. It’s that simple.
This Ponzi scheme can go on for only so long. The longer it lasts, the harder the crash. The amount of theft going on behind the scenes in the last ten years has to be mind-blowing. Free money for the banks. Get back to work, Serfs! Pay those loans! Pay them taxes! Modern slaves are not in chains; they are in debt.
Today the Primary Dealers needed and took another $73.5 billion in Fed overnight repos and $30.65 billion in 14-day term repos for a total of $104.5 billion in Temporary Open Market Operations.
Meanwhile, $96.5 billion in repos expired. So the total Fed repos outstanding rose to a new record of $205.7 billion. It’s QE forever, a permanent QE.
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