An update of the Federal Reserve balance sheet chart. This chart shows the proportional holdings of various assets held by the Fed. The interpretation remains the same; that – although the Fed’s actions are dilutive for the dollar - to an increasing degree, the dollar is becoming ‘good for’ traditional central banking assets again. This change might induce a period of distress over the coming months and years, I explain this in further detail below.

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An update of the daily treasury statement charts:

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