Title: NEW RISK LOOP OPENSLynette Zang: Fannie Mae and the Frankenstein Experiment Source:
[None] URL Source:https://www.youtube.com/watch?v=DoOsoJWnV2I Published:Feb 16, 2019 Author:Lynette Zang Post Date:2019-02-16 06:19:10 by Horse Keywords:None Views:8
Starting in July 2017, Fannie Mae began buying up mortgages funding these purchases with SOFR bonds, the new Federal Reserve experimental benchmark. Know who bought those bonds? Commercial banks bought 1.3% and those that use OPM (Other People’s Money) bought the rest; Fund managers bought 9.7%, State and Local Pensions bought 5.6% but the biggest buyer, a whopping 83.2%, was money market funds. At the same time, global central bankers have been loading up on gold, up 74% YOY for 2018 and the second highest in history. What do you think they’re preparing for?