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Doubting T's avatar

Peter - your para here:

The Fed had only recently began actively shrinking the money supply—a process which has now been well and truly aborted with the tremendous spike in Federal Reserve loans to member banks in response to the recent liquidity fears.

I have read elsewhere is not easing (or stopping the tightening), and/or that these loans should not be viewed as allowing the banks to avoid the losses (due to their under-water investments to continue losing value as rates have risen). But I'm not savvy re these topics -- and/or I'm not sure who to trust given their bias to present these consistent with their past predictions or clients. Have you done a deeper dive on these 'loans' and whether they do indeed present a pivot or return to QE (and/or giving the banks a pass on those poor decisions)? Would you please?

Thanks in any event for all you are providing here -- Hoping you have some time to pray, give thanks and reflect on this day of our Lord.

DT

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The Watchman's avatar

Looks like the merge might not be going through.

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