Huge short squeeze developing?, page-32

Meric

"The US Treasury passes the proceeds to the US Government, who spends the money on Transfer Payments to US citizens by depositing in their bank accounts, putting money back into the commercial banking system. "

Firstly, the US Treasury is the US Government.....

The rest sounds like normal government spending which forms part of the budget and funding process. That is sits on the US Treasury balance sheet, which is quite separate to the Fed balance sheet where the QE items are found.

It is easier to understand all of this if you don't mix the two.