The reason for reverse repo spiking and getting a permanent facility for it is due to getting mad at their own member banks (primary dealers) for not continuing to juice shit when the risk is way too big. Bullish for bubble continuance in the medium term, but bearish for the member banks themselves. Basically this paves the way for the USG finally throwing the banksters under the bus and expropriating them fully. Another "domino" in the way of de-facto nationalization of the entire economy falls.