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Is The Fed Trying To Bail Out The World? Sure Looks Like It

  As I pointed out last year, by accumulating reverse repos, the Fed is effectively sterilizing bank reserves.

Not all banks have access-in addition to the primary dealers, only accepted reverse repo counterparties can conduct business with the New York Fed.

It is always a live option that these people did not know what they were doing-but it strains credulity that the Cantillionaires, those bankers and financiers close to the central bank, whose wealth and power depend on access to the Fed and the privileges supporting the broader fiat money system, did not realize the implications of the policy changes.

In the aftermath of the collapse of Credit Suisse, still in the process of being taken over by UBS, on March 19 the Federal Reserve and the main central banks of the Western world reactivated their liquidity swap lines.

These swaps lines were a key tool in "Saving" the international system after the great financial crisis and will play a similar role today: non-US central banks will borrow dollars from the Fed using their own currencies as collateral.

The Eurodollar system and the rest of the central bank-sponsored global financial system benefit the Fed's real patrons among the Cantillionaires, who are placed in a position of privilege as bankers to the world.

Any currency could serve as the global trade currency; the global use of the dollar and the Eurodollar system supported by the Fed and Western central banks are not necessary.

https://mises.org/wire/fed-trying-bail-out-world-sure-looks-it

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