Only real way moving forward to make money on UVXY will be by shorting the trade as the Fed announces its new permanent plan going forward or taxpayer dollar printing mania. THE LARGEST MAFIA ORGANIZATION IN THE WORLD
You really can’t make this stuff up. A G30 Working Group Chaired by Tim Geithner, the former President of the New York Fed, that secretly sluiced $29 trillion to bail out the Wall Street banks from their hubristic collapse in 2008, released a report today calling for a Standing Repo Facility from the Fed that would be “open to a broad range of market participants….”
The ink was barely dry on that report when the Fed issued a press release today saying it was doing just that. The Standing Repo Facility (effectively meaning that it is PERMANENT until the Fed says otherwise) will be able to lend out $500 billion in overnight loans each day at below-market interest rates. If the $500 billion runs out, Fed Chair Jerome Powell has the discretion to increase it. The repo operations will be conducted by the Open Market Desk of the New York Fed – which means that the names of the banks getting the loans will never see the light of day, unless a media powerhouse decides to stand up for democracy and transparency and take the Fed to Court.
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