больше ада!!
Mar. 18th, 2020 05:11 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
gluckqПару дней назад ZeroHedge радовался, что в рукаве у мошенников больше не осталось никаких тузов, а я отвечал, что это у ZeroHedge фантазии не осталось. Ну так вот, ФРБ собирается покупать принимать "в залог" любые "ценные бумаги", и причём по справедливой госцене, которая устаналивается совершенно непрозрачно каким-то левым клерком.
This means that dealers can now buy stocks at what are still massively overinflated valuations thanks to trillions in central bank liquidity, knowing they can then turn around and pledge them to the Fed at a collateral value that is determined after several rounds of single malt between the fund and some NY Mellon back-office lackey who will write down pretty much anything in exchange for a free dinner, and even if the stocks crashes the Fed will still assign whatever value BNY Mellon decides it is "worth", basically giving the dealers not only a costless purchase but also a free put option!
This means that dealers can now buy stocks at what are still massively overinflated valuations thanks to trillions in central bank liquidity, knowing they can then turn around and pledge them to the Fed at a collateral value that is determined after several rounds of single malt between the fund and some NY Mellon back-office lackey who will write down pretty much anything in exchange for a free dinner, and even if the stocks crashes the Fed will still assign whatever value BNY Mellon decides it is "worth", basically giving the dealers not only a costless purchase but also a free put option!
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Date: 2020-03-18 06:02 pm (UTC)