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Zoltan Pozsar and Perry Mehrling On The Historic Crisis Of Financial Market Plumbing
Odd Lots
Do You Think Local Currency Funding Is Important?
The Fed is expanding its balance sheet on both sides. The desire that people have for cash can be met by creating more cash. That's what's happening on the balance sheet of the Fed, basically because the banks themselves,. the farther down the hierarchy, have been tapped out by these clients who are tapping their credit lines and so forth.
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