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kleinbl00 · 1895 days ago · link · · parent · post: The Fed just pumped $128 billion into markets to pull down interest rates, its first injection in 10 years
That comment is a long and elaborate way of saying that the Fed doesn't just have to prop up the profitability of lending in the United States, it has to prop up Europe as well. https://theeconreview.com/2018/10/16/how-soros-broke-the-british-pound/What kept the pound from nose diving in value was simply the British government’s guarantee that it would keep the value propped up, and the market had faith that it would. As long as everyone believed that England would stay indefinitely committed to buying pounds and keep it in the agreed upon level, the status quo was maintained.