— offering banking loans of up to a year in return for them posting “qualifying assets” as collateral.“Essentially, what [the Fed] did was backstop the entire banking system by saying: ‘Please give me your underwater dogshit bonds and I'll give you fresh dollars,’” Hayes said.
“We basically ditched this whole facade that we care about the value of the dollar and the value of any fiat currency.”Why is Jerome Powell gaslighting us about the odds of recession?
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