Oddbean new post about | logout
 So...  debt monetization by incentivizing (bribing) primary dealers (Fed Share holders:  Citi, BofA, Goldman) to purchase the bonds then get paid a guaranteed overnight reverse repo rate (.05%) by parking them at the Fed.

It's like a pennyless bum getting drunk on their own toilet wine, then putting on a blindfold and trying to give themselves a reach around.