I nominate myself for chart of the week

 

What a correlation between two unrelated charts.

A perfect example of sandbox theory, the banks can collect taxes when the demand for American banking services is high, a congestion fee. 

The chart has the perfect lag during stress to identify cause and effect. Look at the response of red to blue at the onset of covid.

And the chart predicts a sudden rise in reserves at the Fed. The banks cannot collect the taxes Treasury needs.

And the chart illustrates my major point, the red lines needs to be decorrelated from the blue. Devaluation taxes are a Treasury function, it is right there in the Law, and the Fed is likely to see the whole mess resolved with adjudication.  Someone will win on Due process or Right to coin, depending on their angle. Due process, where relevant, gets passed down, and collecting Fed taxes is definitely a relevant are for Due Process. If Treasury legally passed on the right to coin, then they got stuck in the 14th, Due Process banking, and if not that then illegal taking. This chart is evidence.