Jan. 20 at 8:10 PM
$SLV $B $JNUG $GLD $GDX
"Fed and Trump are set to add
$0.6 Tn of fresh QE liquidity in 2026 via T-bill, MBS buying, reinvestment" BoFA's Michael Hartnett
In the next 3wks, the Fed will purchase
$55,360,000,000 in T-bills. Add in last months
$44.1 billion & we are about to reach
$99,460,000,000 in 7wks. Treasuries are bought because the system requires them not because they preserve value
Call it QE, ZIRP, RMPs, liquidity support, or something new
The mechanism changes. The math DOES NOT.
& that kind of math has historically been very kind to precious metals. It’s deliberately bland jargon & that’s the point. The Fed creates reserves & BUYS TREASURIES. QE for people who don’t want to admit they’re doing QE. Different label but
same balance-sheet "math"
This time, RMPs are the modern way to print money quietly:
1) No press conference
2) No “QE infinity” headlines
3) No ZIRP announcement
Don't be shocked to see markets continue higher but so will the not QE.
https://www.newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details#current-schedule
