Oil producers, mostly Saudis and Russians price the QE moments from the Fed.
Why not just leave heir money with the primary dealerss and play the debt trade? Because fracking came along and US oil exports began. That creates a loop through the primary dealers, no? So the major OPECs were better off pricing directly against the QEs. They have been since two years prior to the crash , and still do it.
We have no other method of cash management at the federal level except the primary dealers, and the system is not likely to hold. Few of us planned o dig holes for a living.
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