Amazing How the Money-Printing World Has Reversed by Wolf Richter • Oct 9, 2025 • 77 Comments Balance Sheet as % of GDP: Fed, ECB, BOJ, BOE, and Central Banks of Canada, Australia, New Zealand, and Sweden
ECB’s QT Has Knocked €3.28 trillion off its Balance Sheet (far More than the Fed’s QT) and Accelerated QT Further this Year by Wolf Richter • Oct 8, 2025 • 52 Comments Gold mark-to-market quarterly adjustment: +€158 billion for Q3 on gold’s price spike, largest ever write-up.
The Foreign Investors Who Bought the Recklessly Ballooning US Treasury Debt and Why They’re so Important by Wolf Richter • Sep 18, 2025 • 48 Comments With US debt issuance threatening to blow all fuses, foreign demand is an increasingly important question.
The Foreign Investors Who Bought the Recklessly Ballooning US Debt: July 2025 Update by Wolf Richter • Jul 18, 2025 • 91 Comments US Treasury debt surged by $441 billion since the debt ceiling, to $36.7 trillion. Foreign demand for this stuff is an increasingly important issue.
ECB Balance Sheet: QT Assets Drop by €64 Billion in June, by €3.18 Trillion from Peak, to €3.98 Trillion, Lowest since June 2020 by Wolf Richter • Jul 10, 2025 • 25 Comments It also wrote down its €1 trillion in gold by €30 billion due to its price decline in euros in Q2.
The (Declining) Status of the US Dollar as Global Reserve Currency: Central Banks Diversify into other Currencies & Gold by Wolf Richter • Jul 9, 2025 • 105 Comments There was an extra-special spectacle in Q1 among the Swiss franc, Australian dollar, British pound, and Japanese yen.
The Somewhat Bedraggled US Dollar against the Euro, Yen, Canadian Dollar, Dollar Indices, and Soft Currencies like the Indian Rupee by Wolf Richter • Jun 24, 2025 • 38 Comments No longer the cleanest dirty shirt.
How the ECB’s Mark-to-Market of its Gold Holdings to €1 Trillion and €3.1 Trillion in QT Affect its Balance Sheet by Wolf Richter • May 28, 2025 • 46 Comments Under QT, the ECB shed €3.1 trillion in bonds and loans. Separately, it wrote up its gold assets by €409 billion, or by 68%, to reflect soaring gold prices.
Status of US Dollar as Global Reserve Currency: Central Banks Diversify into Other Currencies and Gold by Wolf Richter • Mar 31, 2025 • 114 Comments The surge of the “nontraditional reserve currencies.”
US Dollar Crushes Euro, Yen, Canadian Dollar, other Currencies as Fed Backpedals on Pace of Rate Cuts by Wolf Richter • Nov 22, 2024 • 64 Comments Amid renewed inflation worries and above-average economic growth.
