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But, But, Ritchie said this would never happen!

From the ECB:

It will start to drain liquidity with quantitative tightening this quarter.

We’ve been told that QT will never, ever, happen. That’s why the national debt is being overstated by the fascist neoliberals. In order to be able to gut the State, of course.

Yet the Fed, BoE and ECB are all doing, or about to do, QT. So, those bonds held by the central banks are, in fact, even if only potentially, part of the national debt, aren’t they?

We all look forward to the day that Riche gets something right.

3 thoughts on “But, But, Ritchie said this would never happen!”

  1. My prediction is that at some point in 2023 QT will be ‘paused’ and QE will restart either late 2023 or early 2024, due to the rapidly collapsing economic situation across the West. Western economies are addicted to printed money, and if you take that away will collapse in a way that makes the GFC of 15 years ago look like a tea party. Ergo the authorities will print more money, because thats the only tool they have. Its what money printers have done down the centuries – once you start on that path there is no going back. You can only do more. There’s never been a country thats done a little bit of money printing, then stepped back and reversed it.

  2. Jim
    Sadly I think you are correct. If/when Sir Kneeler gets in to power he will be so beholden to so many different interests that he will be hosing out the dosh like a drunken sailor. The only way to pay for this will be cranking up the presses to warp speed.
    Its probably a necessary correction that we will have to go through to get a proper Conservative party back. But it will royally fuck things up first.

  3. Have you heard about reverse repo?

    Can you check out to see why money is still increasing because 1) banks are creating more loans out of thin air due to higher interest profits and 2) the $1.5 trillion in reverse repo is not going down as central banks distract you with “QT”?

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