FED REPOS SIGNAL END Of Fiat Federal Reserve Notes
Since mid-September, financial observers have been concerned by reports that the Federal Reserve is lending tens of billions of dollars to unnamed parties, believed to be major banks, under overnight repurchase agreements, commonly called repos.
Last Friday, October 11, the Fed issued a statement briefly describing these activities as increased purchases of Treasury bills to earn additional income needed to meet anticipated higher expenses. The Fed further stated that repurchase lending activities for overnight and term durations will continue at least through January, 2020, to ensure that reserves remain ample and to mitigate risk of money market pressures which might otherwise raise the value of the dollar.
Continue reading “Wayne Jett: Dollar Going Down — By Design So Growth Can Continue”
