When you buy gov bonds in exchange for bank reserves at central bank you are replacing long-term with short-term liability on public balance sheet -> 15–45% of public debt in large AE is “in effect overnight” @BIS_org
bis.org/publ/arpdf/ar2… https://t.co/0lkDlJsFwr
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…