[camnora]

The podcast Making Sense by Jeff Snider and Emil Kalinowski dig into how the Fed functions and how dollars/collateral affect the (world) economy. Very interesting if you're looking to learn more about this. Jeff also has some very informative blog posts.

https://share.transistor.fm/s/b33f1c10

[curation]

Yes! This. Consideration of the repo markets without understanding Eurodollars means the entire conversation is meaningless. There is not enough GOOD collateral. Treasuries are the only thing banks trust because they know how fragile everything is (rehypothecations, nake shorts). This is the continuation of the '08 crash, not a new one.