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Economic Meltdown Far Worse Than 2008 is Now Occuring

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“The “Bernanke Bust”… is coming very soon to a monetary system near you.

I don’t think we have a whole lot of time left before something really disastrous happens.~ Mike Maloney

“Something occurred in the banking system in September that required a massive reverse repo operation in order to force the largest ever Treasury collateral injection into the repo market. Ordinarily the Fed might engage in routine reverse repos as a means of managing the Fed funds rate.

However, as you can see from the graph below, there have been sudden spikes up in the amount of reverse repos that tend to correspond the some kind of crisis – the obvious one being the de facto collapse of the financial system in 2008:

You can also see from this graph that the size of the “spike” occurrences in reverse repo operations has significantly increased since 2014 relative to the spike up in 2008. In fact, the latest two-week spike is by far the largest reverse repo operation on record,” reports Investment Research Dynamics. 

Mike Maloney explains, “A repurchase agreement is a transaction which securities are purchased from a bank and the Fed pushes cash onto the balance sheet. They buy the Treasury bond, with cash, so the bank has more cash, but less high quality collateral. Then the bank promises to repurchase that in a specified number of days, mostly from 9 – 65 days.

When you go to reverse repurchase agreements…the Federal Reserve is selling Treasury bonds to the banks. The banks are promising to sell those bonds back to the Federal Reserve at a later date. This pulls cash off of the bank’s balance sheet, but it gives them high quality collateral.

The Fed added some $60 Billion in 2008.

In September of 2015 they added $641 Billion repurchase agreements.

The Federal Reserve just shoved over $400 Billion dollars of Treasuries on to some bank’s balance sheets as an emergency maneuver.

What is happening right now……………………….read the rest of the story at GramsGold



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