THE U.S. DEFICIT IS NOW BEING FUNDED BY THE FEDERAL RESERVE THROUGH THE REPO MARKET. WHICH MEANS: THE U.S. GOVERNMENT IS PURCHASING U.S GOVERNMENT DEBT EQUAL TO CURRENT ISSUANCE BY THE TREASURY. THE BANKS HAVE RUN OUT OF LIQUIDITY. FOR DIFFERENT REASONS A REPEAT OF 2006, 2007, 2008.

Asher Edelman