QOTD: Quote of the Day 

The stakes are high. Failure will mean the age of free money eventually comes at a staggering price. – Economist, July 25, 2020

               July 25th Economist,  see cover story here.  

…the whirring of the printing presses. In America, Britain, the euro zone and Japan central banks have created new reserves of money worth some $3.7trn in 2020. Much of this has been used to buy government debt, meaning that central banks are tacitly financing the stimulus. – Economist

Buyers Of Last Resort

Now central banks increasingly have to get their hands dirty on Wall Street and elsewhere by acting as mammoth “market makers of last resort”. – Economist