New York Fed Adds Another $97.9 Billion In Liquidity Yesterday – Concerns Grow of Year-End Financial Crisis

◆ The New York Fed added $97.9 billion in temporary liquidity to the financial system yesterday.

◆ The Federal Reserve Bank of New York continues to pump massive liquidity amid very heavy demand by banks for year-end funding; the $97.9 billion involved overnight repurchase agreements, or repos, worth $72.9 billion and the balance via 42-day repos.

◆ The repo market shook the financial world in September when an unexpected rate spike choked short-term lending, spurring the Federal Reserve to intervene.

◆ Interventions ensure markets have enough liquidity and short-term borrowing rates do not spike violently and create a liquidity crisis on Wall Street and the global financial system.

◆ The New York Fed has now pumped nearly $3 trillion into unnamed trading houses on Wall Street in just over two months to ease a liquidity crisis that has yet to be credibly explained.

◆ Massive currency injections signal there are significant problems in the plumbing of the interbank lending market and wider financial system

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GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

02-Dec-19 1457.50 1461.15, 1130.00 1130.05 & 1323.26 1321.17
29-Nov-19 1456.35 1460.15, 1129.55 1131.32 & 1323.24 1327.42
28-Nov-19 1457.55 1454.65, 1127.27 1127.35 & 1323.60 1321.84
27-Nov-19 1459.80 1454.35, 1134.12 1129.74 & 1326.23 1322.30
26-Nov-19 1457.65 1454.65, 1133.76 1131.86 & 1322.96 1321.11
25-Nov-19 1459.45 1458.40, 1133.41 1130.84 & 1325.33 1323.35
22-Nov-19 1471.30 1464.45, 1143.05 1140.22 & 1330.35 1326.06
19-Nov-19 1464.90 1468.45, 1132.37 1134.23 & 1323.68 1325.86
18-Nov-19 1458.40 1467.65, 1124.86 1132.59 & 1318.10 1325.88
15-Nov-19 1465.60 1466.90, 1138.04 1136.41 & 1329.59 1327.84