Want to create an interactive transcript for this episode?
Podcast: Monetary Matters with Jack Farley
Episode: The Liquidity Divergence Between East and West | Michael Howell on Deteriorating Federal Liquidity While People’s Bank of China (PBOC) Injects Stimulus and Pumps Gold
Description: Monetary Matters listeners can get 20% discounted access to an annual subscription of Michael Howell’s Capital Wars here: https://capitalwars.substack.com/MonetaryMatters
Michael Howell of GL Indexes and the Capital Wars Substack returns to Monetary Matters with alarming news. His readings of liquidity from over 90 central banks indicate that global central bank liquidity is deteriorating, led primarily by the Federal Reserve. Howell’s measure of Fed liquidity is weakening because the Fed’s Reverse Repo (RRP) facility is effectively fully drained. This is partially offset by U.S. Treasury issuing lots of short-duration bills...