Bix Weir-FED just won't admit QE4

Bix Weir ( ALERT: Fed Chair Says "BANKS NEED MORE MONEY NOW!"):

-Fed Chair Powell appears to have announced QE4 (but do not call it QE4!):

Discussing the liquidity shortage and repo-calypse, Powell said:

-While a range of factors may have contributed to these developments, it is clear that without a sufficient quantity of reserves in the banking system, even routine increases in funding pressures can lead to outsized movements in money market interest rates. This volatility can impede the effective implementation of monetary policy, and we are addressing it.

-Indeed, my colleagues and I will soon announce measures to add to the supply of reserves over time.

Consistent with a decision we made in January, our goal is to provide an ample supply of reserves to ensure that control of the federal funds rate and other short-term interest rates is exercised primarily by setting our administered rates and not through frequent market interventions. Of course, we will not hesitate to conduct temporary operations if needed to foster trading in the federal funds market at rates within the target range.

...

-"I want to emphasize that growth of our balance sheet for reserve management purposes should in no way be confused with the large-scale asset purchase programs that we deployed after the financial crisis.

Neither the recent technical issues nor the purchases of Treasury bills we are contemplating to resolve them should materially affect the stance of monetary policy..."

-Roughly translated: Don't confuse balance sheet growth for "reserve management" with balance sheet growth for "stock market management"

-Wendy: However what is really happening is opposite.   The recent growth of the FED’s balance sheet for reserve management purposes is the same as the large-scale asset purchase programs( QE) that the Fed deployed after the financial crisis.    The FED just didn’t want to admit that to start a market panic!

-Pacific Gas and Electric Co. began to preemptively cut power for more than 800,000 customers across 34 counties in Northern California and central and coastal areas Wednesday (10/9)  in an effort to prevent power lines from sparking wildfires during dry and windy weather.

-Shut-offs are taking place in three phases. PG&E began shutoffs at midnight in Northern California and the North Bay counties, while the rest of the Bay Area is scheduled to begin losing power in waves at noon. A possible third phase will occur later in the day in the southernmost parts of the PG&E service area in the San Joaquin Valley and Central Coast.

-PG&E cautions on its website that outages could last several days, and on Tuesday night officials said they could last as long as until next Tuesday.

-Bix thinks there is something fishy about this power shut-off.   Are they testing or prepare for much bigger disaster