Fed Admits Crony Truth About Pandemic QE: â€œit creates new bank depositsâ€

GasGasGas
Published on Sep 22, 2022
Ahhhh, so it turns out that the Federal Reserve CAN shovel money directly into retail bank accounts, and did so for two full years under cover of PANDEMIC!!!

BestEvidence has stood alone in making exactly that point repeatedly over the last two years, defying the financial pundits who sought to quell any concerns about what exactly the Fed was doing with solemn assurances that, no, you silly serf with your pesky concernsâ€”the Fedâ€™s QE programs have no effect whatsoever on the retail money supply because [insert Fed-apologizing snake oil here] â€œreserves donâ€™t leak out into the banking system.â€

BestEvidence is pleased to announce that in its quixotic quest to bring light to the shameful QE darkness cast by said pundits, the channel has picked up a new ally: the Federal Reserve itself. Well, a team of Fed researchers, anyway.

For those keeping score at home, itâ€™s now official:

BestEvidence 3
Financial Gurus 0

Far more interesting, though, than a bunch of hoity-toity financial pundits having their face masks adorned with a thick layer of egg, is what the Fedâ€™s admission about Pandemic QE reveals about the privately owned central bankâ€™s actions over the last 12 years. As always, follow the moneyâ€¦

https://bestevidence.substack.com/p/fed-admits-crony-truth-about-pandemic