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September 20, 2023 | 20min
BTFP and More Currency Manipulation: Is the Dollar Worth Anything?
We’re clearly in the midst of a severe, consistent lack of liquidity, but we keep seeing reports that the economy is strong. There’s a reason why our economic indicators are so confusing and contradictory and it’s currency manipulation. Case in point: the Fed’s BTFP initiative. It’s a liquidity backstop to put funds in the hands of banks. The problem is: if we keep printing dollars at will, they just won’t be worth anything. In this episode, I explain what BTFP is and what it means for our economy.
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