squirrelmaster on Nostr: Terrific analogy from the great Adam Tooze on #repo: “One might imagine the repo ...

Terrific analogy from the great Adam Tooze on #repo:

“One might imagine the repo markets and its participants as a staggeringly over-sized pawn shop ecosystem. Every day collateral is given, credit is issued and then the original owner redeems the collateral the following day. And this takes place daily on the scale of trillions of dollars.”