Recently, I've had a familiar feeling, a sense that "Big Brother is coming back."
It is not the kind of small fluctuations seen in the stock market, nor the false breakouts shouted by the bears, but a deeper phenomenon: "liquidity is changing."
I have been observing several market details over the past few weeks:
The cash reserves of banks are rapidly declining, and reverse repos have almost been drained, making the U.S. banking system look "thirsty" again. I last saw this phenomenon in 2019—shortly after, the Federal Reserve took action, stating, "This is not QE," and then the market expl
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