All posts in " Interest Rates "
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Fed Repo Funding for Year-End

By admin / December 13, 2019

QUESTION #1: Marty, I read the Repo report. I understand why you will not discuss this publicly. OMG, nobody seems to have a clue about the truth behind this crisis. What do you think of this latest claim that the Fed will inject $500 billion for the year-end? This seems to be the same yelling […]

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Why the Fed Is Not Lowering Rates

By admin / December 12, 2019

  COMMENT: Thanks so much for your explanation of the Repo Crisis which is now self-evident that the Fed has reversed course and did not cut rates. You are always on the cutting edge and your contacts are revealed in your analysis. PV REPLY: The central bank has been in control of short-term rates, not […]

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BIS Hiding the Truth or Covering Their Exposure

By admin / December 9, 2019

QUESTION: This report from the BIS merely states what you wrote on the private blog almost a month ago about JPM. They are not pointing out the real issues that you have laid out in the report. Are they trying to create disinformation since you point out that the issue with JPM was because of […]

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European Banks to be Prohibited from Dealing in Repo?

By admin / December 5, 2019

QUESTION: Mr Armstrong, I have great respect for your work. Can you explain how the Fed’s QE fits into the cycle of things. It seems to me that their interference in the markets is disrupting/altering the cycle. For example, the latest Fed purchases of T-bills every month in the amount of $60. Who are they […]

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Repo Crisis – Best Kept Secret Ever!

By admin / November 29, 2019

COMMENT: Marty; I want to thank you for a great conference. It is clear you are the only true institutional adviser. Our board is very impressed. The FT reported that there is still no  single factor that caused the dislocations in the repo market in mid-September. You are the only one who explains the event […]

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QE v Managing Benchmark Rates

By admin / November 20, 2019

QUESTION: The Fed buying $60 billion in T-Bills each month is obviously not long-term QE. They are expanding their balance sheet, but this is clearly not the QE as before. As a professional institution we can see the difference. Would you elaborate on the difference? FH ANSWER: The Fed is buying $60 billion of Treasury bills […]

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The Repo Crisis

By admin / November 19, 2019

QUESTION: Marty; The goldbugs are back and claiming the Repo Crisis is MMT and this is again just printing money endlessly to cover up a major banking crisis in the USA so buy gold of course. You said at the WEC cocktail party this would happen because these people never understand the world economy. Is […]

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Central Banks Pre & Post-1971

By admin / October 22, 2019

QUESTION: You commented that the central banks had a difficult position when they were on the gold standard compared to post-1971. Could you explain that difference? Thank you for the education. Its better than any classroom. EJ ANSWER: The United States created the Federal Reserve in 1913. Prior to World War I, central banks were […]

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Split Between Official & Real Interest Rates

By admin / September 30, 2019

QUESTION: Mr. Armstrong; When I first brought this topic up at our board meeting about the split in interest rates between private and public, there was skepticism because such a proposition had never taken place in the short-term memory of our perception of history. I explained your theory and the rest of the members listened […]

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The Dollar Shortage & Liquidity Crisis?

By admin / September 23, 2019

The NY Federal Reserve announced last week that they will continue their repo operation until October 10th, 2019. The repurchase agreements will amount to up to $75 billion per day. Additionally, they plan to offer three two-week repo operations of up to $30 billion each round. The constant intervention of the Federal Reserve into the […]

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