230117 - Who's Tapering and Who's Not.

I have to re-visit this. I am struggling to get 2 charts on the screen. Sorry for the dealy.


If the sell-off on Dow Jones, or the rally on Gold have anything to do with tapering the Central Banks' Balance sheets, they have a lot to talk about in Davos.

Notice the Difference between the M3 and Central Banks' Balances.

BOTH IS RELATIVE AND REAL TERMS.

Tapering is nigh impossible

snapshot

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