Pam and Russ Martens: What has frightened Wall Street banks from lending in the repo market?

Section:

Is it the collapse of Deutsche Bank?

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By Pam and Russ Martens
Wall Street on Parade
Tuesday, September 24, 2019

Last Friday the Federal Reserve Bank of New York made it clear that its interventions in the overnight repo lending market were going to be a longer-term action. Call it what you will, the Fed has effectively returned to quantitative easing, where it buys up Treasuries, federal agency debt, and agency mortgage-backed securities from financial institutions in exchange for loans.

... Dispatch continues below ...


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Crystal Lake Intersects 15.11 g/t Gold over 8 Meters
at Newmont Lake Project in British Columbia

Company Announcement
Wednesday, September 18, 2019

VANCOUVER, British Columbia, Canada -- Crystal Lake Mining Corp. (TSXV: CLM, OTC: SIOCF, FSE: SOG-FF) announces the intersection of shallow high-grade gold mineralization at the company's Newmont Lake gold corridor. The new results are crucial as they provide evidence of a thick unit of unusually high-grade gold mineralization within a broad envelop of continuous low-grade gold mineralization.

This discovery demonstrates that the mineral zone actually increases in width and in grade where previous models indicate a narrowing of the mineral zone. Additionally, a second deeper horizon has been intersected in an area without gold mineralization in previous models, adding to the exploration potential of the Newmont Lake gold corridor, located along the western flank of the Eskay Rift in northwest British Columbia.

The first diamond drill core assay results from ongoing drilling at the northwest zone underscore the potential for higher grades and increased continuity of grade that can result in significant expansion of the historic mineralization while new high-grade domains are targeted elsewhere along the gold-bearing McLymont Fault and numerous associated splay faults. ...

... For the remainder of the announcement ...

https://crystallakemining.com/crystal-lake-intersects-15-11-g-t-gold-ove...



According to the New York Fed, the program has now been extended to at least October 10 and likely thereafter in one form or another. The Fed will be pumping in $75 billion daily in overnight repo loans while infusing $30 billion in 14-day term loans three times this week for a total of $90 billion in term loans.

That there is one or more financial firms needing $30 billion on a two-week basis and can't get it from anyone but the Fed isn't confidence inspiring. ...

... For the remainder of the commentary:

https://wallstreetonparade.com/2019/09/what-has-frightened-wall-street-b...

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