Video Description
The US Treasury used to be capped at $2 billion per operation when buying back its own 10-year and 20-year bonds. In mid-August it doubled that to $4 billion, and from September 9th it tripled it.
It is buying its own debt because nobody else wants it at these yields. The 10-year is touching October 2023 highs, and when nobody will hold long-term government debt, the price falls and the yield goes up.
This is not money printing. Money printing is QE and QE belongs to the Federal Reserve. What the Treasury can do instead is yield curve control: step into the market as a buyer of its own long-term debt to force those yields back down.
The part that matters for Bitcoin is the dollar. Suppressing the yield on US government debt makes the dollar less attractive to hold, and a weaker...
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