Wish Granted
Earlier today I commented Fed Offers At Least $250 Billion In Short-Term Repos Through Oct 17
“If wishes were fishes the nets would always be full.”
I made that statement sometime in 1972. Seems appropriate today.
But some wishes are far more likely than others to be granted.
Mike “Mish” Shedlock
Greenspan (of all people) once remarked that the Post-Bretton Woods debt-based, fiat monetary system could only continue to function as long as it was administered like a “Gold Standard”. I think we passed that point quite a while ago.
“Former Fed officials said the Fed should do $250 billion in repos to alleviate the funding crisis.”
…
Only a matter of time.
But, as Bernanke learned the hard way, Mr Market does not take kindly to term limits and $$s amounts. Needs to be open ended on both accounts to satisfy Mr Market (heh heh, until Mr Market not satisfied).
Always count on the Federal Reserve to be behind the curve.
Through October 17.
When do they announce the first extension?
What will be the straw that breaks the camels back? This type of “rescue” has been going open for 10 years now…
It’s an addiction that cant be weaned off. The US really put one over on the world as a reserve currency.
When will we here “we will do whatever it takes for as long as it takes”?
250 billion A WEEK!Fed will need to print a tril a month (at least),and that’ll only buy them maybe 6-7 month (and that’s pushin it),then it’ll double (maybe triple)to 2 TRILLION A MONTH…there gonna need more printing presses……craploads more!
Its very expensive to keep zombie banks and zombie companies operating.
Sooner or later, the US government will be forced to choose between closing Washington DC or else closing Govt Motors and JPM and Wells Fargo and Boeing….
Either way, it will need to close down the healthcare-education complex (which now costs a lot more than the military industrial complex)
Country Bob, you talk as if money can’t be conjured from thin air!
The decision will not be made by government–witness Greece, Argentina, and others. It will be Wall Street foreclosing on the $22 trillion US debt. Ref. https://thedailycoin.org/2019/07/25/war-mongering-brought-to-you-by-wall-street/