by I think that the ECB and BOE already effectively have this… those systems also have much lower and less volatile interest rates on their government securities… hmmmmm… ?Couple comedic sidebars, this is funny in here: “The Fed began intervening in money markets in September of 2019 when reserves in the banking system fell too low, leading to a spike in short-term borrowing rates.”Oh yeah like the system reserve balances just somehow “fell too low!” like they somehow just evolved from the apes by random chance to a low level… yeah ok LOL..Then this too right behind it: “Reserves are elevated thanks in part to… a rapid drawdown in the government’s store of funds at the Fed.”LOL how did the funds get in the government account in the first place? Flew in by random chance mutation from Mars
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I think that the ECB and BOE already effectively have this… those systems also have much lower and less volatile interest rates on their government securities… hmmmmm… ?
Couple comedic sidebars, this is funny in here: “The Fed began intervening in money markets in September of 2019 when reserves in the banking system fell too low, leading to a spike in short-term borrowing rates.”
Oh yeah like the system reserve balances just somehow “fell too low!” like they somehow just evolved from the apes by random chance to a low level… yeah ok LOL..
Then this too right behind it: “Reserves are elevated thanks in part to… a rapid drawdown in the government’s store of funds at the Fed.”
LOL how did the funds get in the government account in the first place? Flew in by random chance mutation from Mars or something?
It never ends… Darwin…
♥️ Fed establishes standing repo facilities to support money markets https://t.co/dJEvZ8jQXI
Good news for monetary stability. Now will include foreign banks who can repo their UST held domestically.
— Chicago Quantum | US Advanced Computing Infra Inc. (@chicago_quantum) July 29, 2021