Sunday , November 24 2024
Home / Mike Norman Economics / Fed lowers RRR to 0%

Fed lowers RRR to 0%

Summary:
What a bunch of duplicitous and dishonest pieces of garbage these people are...How many months have we been told that they had to increase the Reserve Assets at the Depositories with all the "repo!" BS ever since September...  covering up their incompetence where they had a requirement of 10% of Deposits and Deposits were T so they reduced THEIR OWN RESERVE balances below .3T and created a Reserve deficiency...So they go for months trying to create this big smokescreen about 'Reserves!" and adding all these nonrisk assets to Depositories... like it was a real technical issue or something...Now in the middle of "virus!" armageddeon they just come out one day and say "well... now the requirement is ZERO!"..Why didnt you just do this in September then assholes?????These are some of the

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What a bunch of duplicitous and dishonest pieces of garbage these people are...

How many months have we been told that they had to increase the Reserve Assets at the Depositories with all the "repo!" BS ever since September...  covering up their incompetence where they had a requirement of 10% of Deposits and Deposits were $13T so they reduced THEIR OWN RESERVE balances below $1.3T and created a Reserve deficiency...

So they go for months trying to create this big smokescreen about 'Reserves!" and adding all these nonrisk assets to Depositories... like it was a real technical issue or something...

Now in the middle of "virus!" armageddeon they just come out one day and say "well... now the requirement is ZERO!"..

Why didnt you just do this in September then assholes?????

These are some of the most incompetent and dishonest people on planet earth... if our medical and healthcare people were like this we would soon all be dead...

These people should all be shit canned like yesterday....

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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