June 19 (Boomberg)

The Fed today announced a new bailout scheme entitled "Alternative Treasury Substitution Window". The new facility, aimed to aid liquidity in the alternative economy, allows third parties at home and abroad to replace nominal Treasury debt of uncertain origin with bona-fide newly-issued Treasury debt.
"The new programme is great news for us. We get all sorts of paper here. Who knows which is real? Now we can avoid embarrasing writedowns and save in dollars with the confidence of a Fed guarantee," one money manager for the Colombian alternative pharmaceutical industry known only as "Don Pepe" said yesterday.


Don Pepe counting his cash yesterday


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