☑️ Currently, US bonds held by the Fed, which amount to 95 billion dollars per month due to QT, have decreased, and the US government procures reimbursement funds by issuing US bonds, and since before, it was mainly using MMF funds managed in rerepositories to meet the supply needs of US bonds, but there is a risk that excessive supply will suddenly occur in the US bond market and upward pressure on interest rates will increase. Actually, this is the background behind recent stock prices, and in order for institutional investors such as banks, hedge funds, etc. that held MMF to hedge the risk of a sharp rise in interest rates due to concerns about the exhaustion of liberal repositories, Pow has received secret orders from the US government to increase cash on the market without relying on Fed mitigation and is accumulating profits by directing money into stocks now. As a result, the amount remaining in use of Liberapo has decreased, but MMF balances have increased to a record high of 6 trillion dollars or more since profits from stocks have been accumulated. This is a reserve for US bond purchase funds after the Liberal Repo is exhausted, and it offsets the pressure of rising interest rates. Next year, the Fed will continue QT, shrink its balance sheet, prepare for some kind of crash risk, and prepare the next excessive liquidity supply (QE). The US government also already owns this Fed...