gold, page-41601

Andy,
I tend to read items, and then move on, so a lot of time I appear to comment without the hard evidence,
But,
Somewhere this week I read an article about the initial 3 months of Fed qtightening, the sale of their “asset cache”.
It seems it is not happening as first laid out.

In the context of your point about mortgage holders,
It seems the balance sheet reflects an INCREASE in mortgage holdings!!

They are circling the wagons well and truly.
I dont think we will see a balance sheet reduction for a little while yet