Commenting on the private credit crisis, Italian financial analyst Mauro Bottarelli wrote: “It feels like we’re back in 2019, just before the repo crisis erupted and the pandemic liquidity flood began.” Bottarelli forecast a massive replay of Quantitative Easing: the supply chain paralysis caused by Covid-19 is now seen in the price of oil and its free circulation. “Action must be taken. And you will see that the strategic reserves released will not be enough. More will be needed. Much more.”