Fed's Reverse Repo Soars To Stunning $756 Billion, Spikes By $230 Billion Overnight

Source: https://www.zerohedge.com/markets/feds-reverse-repo-soars-stunning-756-billion-spikes-230-billion-overnight
Published: Jun 17, 2021
Author: Tyler Durden
Post Date: 2021-06-17 16:27:05 by Horse
Views: 550

That's $756 billion the banks are not lending...

Poster Comment:

The FED and BIS will not do anything to stop inflation. Lynette Zang said the new rules will not be enforced on gold until the FED, the BOE and the ECB are ready with DigiCash which means the end of privacy the instant Hyperinflation.

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#1: Pinguinite    To: Horse (#0)

More finance stuff to figure out as this is over my head.

Crypto, anyone?

Pinguinite posted on 2021-06-17 17:10:08   Reply   Private Reply

#2: Horse    To: Pinguinite (#1)

The governments are going fulltime fascism as soon as DigiCash is up and running. And DigiCash means Hyperinflation. Under that regime crypto might not be worth anything at all. Why? Because you could never cash out except by selling crypto for gold or silver.

Horse posted on 2021-06-17 17:27:24   Reply   Private Reply

#3: BTP Holdings    To: Horse (#2)

China has already gone to digital Yuan. Of course this means you can be cut off at any time, especially if they think you are not a good little Chinkernese who follows the Party line. ;)

BTP Holdings posted on 2021-06-17 18:51:46   Reply   Private Reply

#4: Pinguinite    To: Horse (#2)

Under that regime crypto might not be worth anything at all. Why? Because you could never cash out except by selling crypto for gold or silver.

Historically, black markets have always arisen whenever government economic controls have grown too contrary to market will, and crypto can easily, at minimum, co-exist with gov currency on that basis.

Pinguinite posted on 2021-06-18 00:44:29   Reply   Private Reply

#5: Pinguinite    To: BTP Holdings (#3)

China has already gone to digital Yuan. Of course this means you can be cut off at any time, especially if they think you are not a good little Chinkernese who follows the Party line. ;)

That's really the rub. It's like this. Digital currency is coming, and people will have 2 choices. Gov controlled currency or free market currency.

No one is going to avoid it. It's one or the other, for all of us.

Pinguinite posted on 2021-06-18 00:46:00   Reply   Private Reply

#6: Horse    To: Pinguinite (#4)

History before all seeing eye digital surveillance and DigiCash means nothing. You can't buy or sell without permission after DigiCash.

Horse posted on 2021-06-18 06:40:37   Reply   Private Reply

#7: Pinguinite    To: Horse (#6)

Well, on that point we'll just have to disagree. But we'll see, perhaps.

Pinguinite posted on 2021-06-18 12:15:53   Reply   Private Reply

#8: Horse    To: Pinguinite (#7)

I think we will have a rebellion when Hyperinflation starts as 60% of the population will not be able to afford food.

Horse posted on 2021-06-18 17:04:13   Reply   Private Reply

#9: BTP Holdings    To: Horse (#8)

I think we will have a rebellion when Hyperinflation starts as 60% of the population will not be able to afford food.

If it were not for my EBT card I could not afford fresh beef. ;)

BTP Holdings posted on 2021-06-18 17:45:01   Reply   Private Reply

#10: BTP Holdings    To: Pinguinite (#1)

Crypto, anyone?

China has already gone cashless. But that is not quite the same as Crypto. The U.S. wants to do away with cash. But there are too many instances of where cash is the only way to fly.

I know someone who has made some profits dealing with Coinbase since they deal in several kinds of crypto-currencies. ;)

BTP Holdings posted on 2021-06-18 17:56:44   Reply   Private Reply

#11: Pinguinite    To: Horse (#8)

I think we will have a rebellion when Hyperinflation starts as 60% of the population will not be able to afford food.

If people cannot eat, then everything falls apart. That's Civilized History 101.

Pinguinite posted on 2021-06-19 02:12:32   Reply   Private Reply

#12: Pinguinite    To: BTP Holdings (#10)

China has already gone cashless. But that is not quite the same as Crypto.

I expect the lines to be blurred. If the blockchain is completely maintained by the central bank, and everyone simply has an account on it to exchange tokens then it's arguably a hybrid, but certainly not a free market crypto situation. I understand the Chinese version can have tokens with an expiration date. Fail to spend them by that date/time and the coins vanish. It's extremely draconian.

The U.S. wants to do away with cash. But there are too many instances of where cash is the only way to fly.

The US is not so free as the CCP to do anything it wants due to legal restrictions, but give them time and they'll circumvent civil liberties to whatever extent necessary.

Pinguinite posted on 2021-06-19 02:17:10   Reply   Private Reply

#13: BTP Holdings    To: Pinguinite (#12)

but give them time and they'll circumvent civil liberties to whatever extent necessary.

When I was a kid in Chicago back in the 60s, we lived a mile from Wrigley Field and would walk to the games. It cost $1 to get into the Bleachers. One time there I spotted a $20 lying on ground near refreshment stand. I pounced on that quick. That was a lot of cash back then.

Recently, when rummaging in the trash for recyclables, I found a $10. These people get liquored up and lose track of their money. I went to donut shop on square and that $10 vanished pretty quickly. :-/

BTP Holdings posted on 2021-06-19 11:51:35   Reply   Private Reply

#14: noone222    To: Pinguinite (#12)

The US is not so free as the CCP to do anything it wants due to legal restrictions, but give them time and they'll circumvent civil liberties to whatever extent necessary.

FDR wasn't bothered much by legal restrictions !

noone222 posted on 2021-06-19 11:55:34   Reply   Private Reply

#15: BTP Holdings    To: noone222 (#14)

FDR wasn't bothered much by legal restrictions !

Not one iota. On June 5, 1933 FDR abrogated the gold standard. Britain did it in 1931.

Since they date there is no money. Congress passed HJR 192 as a remedy. That resolution said Congress would pay all of our debts.

Even though HJR 192 has been repealed, Congress must still provide the remedy for there being no money. This is found in the United States Code.

Code 31 USC 392, 5103, which officially defines this as a statutory legal tender obligation of THE UNTIED STATES, and is issued in accordance with 31 USC 3123 and HJR-192 (1933) which establish and provide for its issuance as “Public Policy”

BTP Holdings posted on 2021-06-19 12:33:52   Reply   Private Reply