What is the Fed hiding? (E1457)
Max and Stacy discuss the fact that the massive daily NY Fed interventions in the repo market are getting worse and worse. What was meant to be small and temporary now seems to be huge and permanent. Investors are asking, “What is the Fed hiding?” They also look at the 23% decline in the US Monetary Base since 2016 and ask whether or not it signifies anything. Max talks to David Morgan of The Morgan Report about what he sees in the turmoil in the repo markets. They also discuss China’s gold purchases and whether or not he agrees with Alasdair MacLeod’s belief that China could announce they have more than 10,000 tons of gold.
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