US Deficit PutDescription: RISK ON
"Von Havenstein faced a real dilemma. Were he to refuse to print the money necessary to finance the deficit, he risked causing a sharp rise in interest rates as the government scrambled to borrow from every source. The mass unemployment that would ensue, he believed, would bring on a domestic economic & policital crisis, which in Germany's current fragile state might precipitate a real political convulsion. As the prominent Hamburg banker Max Warburg, a member of the Reichsbank's board of directors, put it, the dilemma was 'whether one wished to stop the inflation & trigger the revolution,' or continue to print money. Loyal servant of the state that he was, Von Havenstein had no wish to destroy the last vestiges of the old order."
Timeframe: already started
Indicators used: all of them
Shout out to: Luke Gromen, John Williams, and Jerome Powell
