Federal Reserve Visits Pawn Shop

Well, maybe it’s more like taking an advance on your paycheck.

From wallstreetexaminer.com:

The Fed was hit with withdrawals of $83.3 billion last Wednesday, the largest withdrawals from its deposit accounts that were not associated with quarterly tax payments since February of 2009. $7 billion of that was the net cash transferred to the US Treasury from its note and bond sales less outlays. The Fed still had to meet the other $76 billion.

This stuff is way over my head, but I did read up on some of it. This “Reverse Repurchase Agreement” sounds like a bunch of malarkey.

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Tom Cornyn

I'm just a regular guy. I eat tires.

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