“We’re giving assistance cheques to 175 million Americans. 175 million Americans. It’s a humungous number.” -Larry Kudlow, Director of the United States National Economic Council.

Today, there are more digital dollars and credit than paper dollars (cash). If too many people want their money in physical cash, the banks can not deliver.

Kristalina Georgieva thinks so. 

The Bureau of Labor and Statistics report for initial jobless claims shows a jump to 3,283,000 from 282,000

The wealth that past generations has saved has been consumed. We have eaten our seed corn.

“The Federal Open Market Committee (FOMC) will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning…”

“We are looking at sending checks to Americans IMMEDIATELY. .. Now, and I mean now. In the next two weeks.” - US Treasury Secretary Steve Mnuchin 

The Federal Reserve is printing money to bailout bad car loans, bad mortgages, and insolvent companies. 

Cannabis is already legal. The police are just not enforcing the law.

It makes sense considering that less than 50% of Americans have $400 saved for an emergency.

The Fed put out two more announcements in support of QE infinity today.

The Federal Reserve has cut interest rates to near 0% and is printing $700 billion over coming months to buy treasuries and mortgages. 

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York: “The first such purchases will begin tomorrow, March 13, 2020. Today, March 12, 2020, the Desk will offer $500 billion in a three-month repo operation at 1:30 pm ET that will settle on March 13, 2020. Tomorrow, the Desk will further offer $500 billion in a three-month repo operation and $500 billion in a one-month repo operation for same day settlement.”

Oil, Stocks, and Interest Rates are all lower. 
Stocks opened up and were stopped out down more than 7% after futures were halted overnight at a loss of 5%.

If you lent money to a country with the most debt in recorded history, would you charge historically low interest rates?

“In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, to 1 to 1‑1/4 percent.“ FOMC 3/3/2020

“Other Central Banks are much more aggressive. The U.S. should have, for all of the right reasons, the lowest Rate.” -President Trump

“We will use our tools and act as appropriate to support the economy.“ -Chairman Powell.

Fear trades are starting to be profitable. Once bond holders realize that their paper profits will be inflated away by central banks, then gold will see record highs in all currencies.

“Putting it in context, the total credit injection of more than 5 trillion yuan, or roughly $725 billion, in one month, was the single biggest on record.”