The Fed knew a massive credit crisis was unfolding last fall, well before anybody heard of Covid-19…
“If you infuse Keynes’ economic and monetary theories with LSD you end up with MMT (Mondern Monetary Theory)”
While the coronavirus to be sure is the “black swan” that pricked the stock bubble, market forces eventually would have accomplished the same result. The Fed started bailing out the banking system in September, printing half a trillion dollars to save the banks well before anyone had ever heard of coronavirus or Covid-19. It knew back in September that a massive credit problem was starting to bubble up.
The Prepared Mind invited myself and TFMetals’ Craig Hemke to discuss the Catch-22 global debt problem facilitated by the Central Banks, the eventual monetary system reset and, of course, gold and silver: