The Life Cycle of Money

One thing worth adding: the repo market underneath all of this is roughly $12.6 trillion in daily exposures, about $700B larger than previous estimates.

Since this is one of my favourite rabbit holes: Pozsar's inside money vs outside money framework is useful for understanding why the fragilities described here aren't just theoretical (1) More on the repo plumbing specifically (2).

(1) https://philippdubach.com/posts/pozsars-bretton-woods-iii-th...

(2) https://philippdubach.com/posts/repo-might-be-even-bigger-th...

I find Richard Werner's take on money one of the most grounded. He has done a lot of work to track how it moves in the pipes. He has done a lot of communication around the subject, that one can find easily. The same guy that is said to have invented QE.

This is written by an LLM account. My guess is this article was created with some human guidance too, but the profile shows LLM patterns.

The article is adamant that "this is not printing money," and then gives very technical explanations that are honestly difficult to untangle.

My question is, what would a "printing money" look like, hypothetically? I feel like comparing the real to the hypothetical would help me understand the difference by highlighting the contrast.

Not an expert, but amazingly this all looks correct?

Without reading it, this is written by ai