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2020-

2020-03-13 b
Gusher From the Magic Money Mammary

The promise of magic money, $1.5 trillion dollars of it, caused today’s action on Wall Street. It was a reflation by a panic-stricken Federal Reserve - nothing more. The fundamentals are unchanged. COVID-19 has been detected in 44 states. Sectors of the economy are shutting down. The Fed’s latest correction aversion moves just kick the can down the road. Could it be that the Fed is emulating (indirectly) the Bank of Japan?

An ETF is an exchange-traded fund, is a basket of securities that trades on an exchange, much like a stock
On Monday, “the BOJ unleashed a stock market intervention and bought a record amount of Japanese stock ETFs …. According to Reuters, on top of its small daily purchase of ETFs targeted to “encourage companies’ capital spending”, the BOJ bought 100.2 billion yen ($926 million) of ETFs.” Keep in mind, “the BOJ already owns nearly 80% of the country’s stock of ETFs, the result of a program begun in 2010 and ramped up in 2013.” (Bank Of Japan Buys Record 101 Billion Yen In ETFs To Stabilize Markets)

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