Tax collector of last resort

Bank of England eyes sub-zero rates in face of virus, Brexit

They have this bogus theory that debt creates money and discovered it requires tax collections.

Brad Setser

@Brad_Setser

The Fed now holds more long-term Treasury bonds or notes than all the world's central banks combined. Confirms something I been arguing for a while -- the Fed, not China or anyone else, ultimately can set US long-term rates.

Only if the Fed is willing to collect taxes to support seigniorage.  Rates are lower when taxes are collected.

And the socialist bums of Wall Street:

Wall Street Loses Faith That Congress Will Rescue States, Cities