Well, not markets. Fed-managed paper exchange.
But the problemita of pulling the rug out from under the entire banking system still needs to be addressed.
Why do bondholders and leveraged speculators have to be enriched, instead of providing fiscal relief to the unemployed and small businesses? That’s the question.
An increasingly important question, because someone always has to buy this debt – and it’s not just the Fed. But the share of foreign holders is waning.
Only Treasury securities and mortgage-backed securities (MBS) are still active.
Fed’s ETF holdings fell for second month, corporate bond holdings barely ticked up: This “$750 billion” SPV is over before it really got started. But the hype had been huge.
A lump-sum payment in digital dollars for all Americans during a recession or to raise inflation, as an alternative to QE and negative interest rates, which have failed (transcript of my podcast).
A lump-sum payment in digital dollars for all Americans in a recession or to raise inflation as alternative to QE & negative interest rates, which have failed
Trillions flying by so fast, it’s hard to even count them. But somebody had to buy these Treasury securities. And it wasn’t just the Fed. Here’s who.
SPVs to nowhere.