Time to start making yet another round of "Peter Schiff was right" videos.

He said over and over again-- even when "QT" was well in progress, and people were saying he was wrong-- that the Fed simply can not shrink the balance sheet even close to what it was pre-"QE", because that would crash the bond market: "what happens when the largest net buyer of Treasuries becomes a net seller?", he would rhetorically ask.

Turns out the eggheads at the Fed knew the answer too.