◆ The New York Fed added $97.9 billion in temporary liquidity to the financial system yesterday.
◆ The Federal Reserve Bank of New York continues to pump massive liquidity amid very heavy demand by banks for year-end funding; the $97.9 billion involved overnight repurchase agreements, or repos, worth $72.9 billion and the balance via 42-day repos.
◆ The repo market shook the financial world in September when an unexpected rate spike choked short-term lending, spurring the Federal Reserve to intervene.
◆ Interventions ensure markets have enough liquidity and short-term borrowing rates do not spike violently and create a liquidity crisis on Wall Street and the global financial system.
◆ The New York Fed has now pumped nearly $3 trillion into unnamed trading houses on Wall Street in just over two months to ease a liquidity crisis that has yet to be credibly explained.
◆ Massive currency injections signal there are significant problems in the plumbing of the interbank lending market and wider financial system
Overnight repo developments via WSJ
NEWS & COMMENTARY
Gold prices tread water despite Trump’s Latam tariffs
New York Fed Adds Liquidity Amid Heavy Demand for Year-End Funding
Investors snap up NY Fed loans as cash crunch fears linger
Trump to meet the queen and NATO allies after tariff threat to France
Australia surplus boosted by gold demand
These Are the Banks that Own the New York Fed and Its Money Button
Gold futures dumps since 2013 persuaded me of market manipulation
The path of least resistance for gold is up
GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)
02-Dec-19 1457.50 1461.15, 1130.00 1130.05 & 1323.26 1321.17
29-Nov-19 1456.35 1460.15, 1129.55 1131.32 & 1323.24 1327.42
28-Nov-19 1457.55 1454.65, 1127.27 1127.35 & 1323.60 1321.84
27-Nov-19 1459.80 1454.35, 1134.12 1129.74 & 1326.23 1322.30
26-Nov-19 1457.65 1454.65, 1133.76 1131.86 & 1322.96 1321.11
25-Nov-19 1459.45 1458.40, 1133.41 1130.84 & 1325.33 1323.35
22-Nov-19 1471.30 1464.45, 1143.05 1140.22 & 1330.35 1326.06
19-Nov-19 1464.90 1468.45, 1132.37 1134.23 & 1323.68 1325.86
18-Nov-19 1458.40 1467.65, 1124.86 1132.59 & 1318.10 1325.88
15-Nov-19 1465.60 1466.90, 1138.04 1136.41 & 1329.59 1327.84
