While the US Federal Reserve continues to print money and keep the economy afloat, especially due to Coronavirus panic, it seems to be talked about for a long time with its move on March 5th.
The central bank of one of the largest economies in the world, the FED, confirmed that on March 5, a 89 billion dollar REPO was made. REPOs are known as instruments that provide temporary or short-term liquidity to lending institutions. This is actually equivalent to printing fiat money without being indexed to anything.
The FED had already given emergency signals by lowering the interest rate unexpectedly in the past days. Despite this, the $ 89 billion REPO deal shows that the situation is actually much worse than previously thought. In a news report by the Wall Street Journal, it was emphasized that this process even exceeded the limits of the FED.
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Millions of Bitcoin Value Moves
The amount corresponds to more than half the total amount of Bitcoin (BTC) excavated. Based on the value at the time of writing this article, the FED actually printed enough money to buy 9.8 million Bitcoins in 1 day. In fact, rumors that the FED will print money have been on the agenda in the past weeks and this situation has gathered a reaction.
Anthony Pompliano also expressed his reaction, saying that the means of central banks are to print money and lower interest.
