Eurodollar University’s Making Sense; Episode 77, Part 2: The QE Fantasy Unwinds, The Truth About Bank Reserves (and repo)

77.2 So, Not Money Printing

———Ep 77.2 Summary———

QE has been uniformly aligned with the idea of money printing because it sounds like it and there is a central bank doing it. We have to take central bankers’ word that there is a pot of bank reserves at the other end of the QE rainbow. While that part is true, bank reserves are hardly gold; and gold hasn’t been effective money in generations, but at least it was at one point. What are these damnable bank reserves?

The FOMC has finally gotten around to questioning their own effectiveness given how this QE byproduct repeatedly has failed to stem the tide of repeated monetary disorder (globally). Including, importantly, last March.

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