Intriguing; can i get a source i can read further into this? Seems like a very dishonest tactic that would have most sovereign natures in an uproar.
The Federal Reserve has taken a new step to meet the global demand for dollars, setting up a facility that would allow central banks and international monetary authorities to enter into repurchase agreements with the US central bank and trade US Treasuries for dollars. The Fed said the new facility would work in tandem with the dollar swap lines already established by the central bank with its peers across 14 different countries as the coronavirus pandemic has spread across the world.
It wont be met with uproar, because it helps to stabilise the macro econs of developing nations when there is a mad rush to sell off their local currency for USD dollars. On the front, US appears to be helping them by providing much needed immediate liquidity. But on the long term, it means that US economy is essentially living and benefitting off debt while the expense is paid for by these developing nations in forms of domestic inflation, capital flight and depreciating currency.
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