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Why Zoltan Pozsar's Bretton Woods 3 is SO WRONG [Eurodollar University, Ep. 217]
18 april 2022 · 50 min
Zoltan Pozsar says a commodity-based, China-led monetary order—Bretton Woods III—is upon us, resulting in the decline of the US dollar and escalating repudiation of US Treasuries. This is not going to happen! China doesn't want it; neither do exporters nor commodity producers. Lees meer
----EP. 217 REFERENCES----
(Credit Suisse) Bretton Woods III: https://bit.ly/38H76q8
(Credit Suisse) Money, Commodities, and Bretton Woods III: https://bit.ly/3jK2YI4
(Credit Suisse) The Big $hort: https://bit.ly/3roesFp
(Odd Lots) This Is Zoltan Pozsar's Vision For Bretton Woods III: https://apple.co/3EhDsDu
(Michael Pettis) Changing the Top Global Currency Means Changing the Patterns of Global Trade: https://bit.ly/3jCKPMr
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr
PodcastRepublic:https://bit.ly/3LH8JlV---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Marked Up" by Damma Beatz.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapar… -
Michael Green: Nobody Wants Jeff Snider to Win! [Eurodollar University, Ep. 216]
12 april 2022 · 1 uur
Michael Green, professional gentleman of capital market structure, explains why US Treasury yields are rising, why options for Eurodollar future negative yields are gaining value, and why the balance of probabilities favors monetary / economic disinflation / deflation, not expansion, growth or inflation. Lees meer
-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr
PodcastRepublic:https://bit.ly/3LH8JlV---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Melodic Space" by VELDA.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comVELDA: https://www.epidemicsound.com/artists/velda/
"Melodic Space": https://www.epidemicsound.com/track/Wkrg98WtJS/#MichaelGreen #JeffSnider #Inflation #Deflation #EurodollarFutures #USTreasuryYields #YieldCurve
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There is No Such Thing as A Petrodollar [Eurodollar University, Ep. 215]
10 april 2022 · 25 min
Petrodollar? There's no such thing. We didn't transition from a gold- to an oil-backed dollar. There was something else, another kind of dollar—hidden by a conspiracy of silence between '44 and '73. Instead the world transitioned from a gold-backed US dollar to a offshore, ledger-based bank-centered eurodollar. This same eurodollar system absorbed petrodollars, easily. Lees meer
----EP. 215 REFERENCES----
There Are No Petrodollars, Plus the Focus Misses the Point: https://bit.ly/3xjpzTQ
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr
PodcastRepublic:https://bit.ly/3LH8JlV---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Melodic Space" by VELDA.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comVELDA: https://www.epidemicsound.com/a…
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Fed Worried about Inflation during GREAT DEPRESSION?! [Eurodollar University, Ep. 214]
9 april 2022 · 35 min
In the middle (1937-38) of the Great Depression (1929-47) the Federal Reserve FREAKED out about accelerating consumer prices and the EXCESS supply of bank reserves, so they started to hike rates. During a depression!! Rinse and repeat (2022-2?) during the Silent Depression (2007-2?). Lees meer
----EP. 214 REFERENCES----
Curve Wars: Short Follows Long Because It’s *Never* Just One Part or One Curve: https://bit.ly/3JdswYE
(Don't Fear) The Yield Curve, Reprise: https://bit.ly/3LKhXOo
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr
PodcastRepublic:https://bit.ly/3LH8JlV---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Melodic Space" by VELDA.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comVELDA: https://www.epidemicsound.com/artist…
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RECESSION WATCH: Income Stopped Growing in Oct. '21 [Eurodollar University, Ep. 213]
8 april 2022 · 13 min
Americans' real personal income (excluding transfer receipts) stopped improving way back in October 2021. Would you believe that the US Treasury yield curve began to move towards inversion the very same month?! Now the curve has inverted, a warning that economic recession is probable. Welcome to Hades. Lees meer
----EP. 213 REFERENCES----
The Short, Sweet Income Case For Ugly Inversion(s), Too: https://bit.ly/3DOSHDT
Curve Inversion Confirmed by Fed's US Treasury Lending [Ep. 204]: https://youtu.be/BWsVCNxf7bs
Curve Inversion Warning Confirmed by TriParty Repo Collateral [Ep. 205]: https://youtu.be/k-Y3aljz2Fs
Inventory Moved USA Toward Recession in October 2021 [Ep. 209]: https://youtu.be/0a6O9ydNNFs
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr
PodcastRepublic:https://bit.ly/3LH8JlV---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Melodic Space" by VELDA.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.co… -
Fed told Congress to Ignore Offshore Money Creation [Eurodollar University, Ep. 212]
4 april 2022 · 20 min
In the 1960s the Bank for International Settlements investigated the offshore, shadow-money system and found it straightforward and to be ignored. In the 1970s the Federal Reserve said same system had become complex and difficult to define; it then told the US Congress to ignore it. Lees meer
----EP. 212 REFERENCES----
Volcker’s Petrodollar Bigfoot; Or Why Curves Today Are So Against The Fed And Its Rate Hikes: https://bit.ly/3J0mfzi
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "1983" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comBen Elson: https://www.epidemicsound.com/artists/ben-elson/
Arcaders: https://www.epidemicsound.com/track/bvf2W5TWvQ/ -
The 7s10s Treasury Spread is a Leading Indicator [Eurodollar University, Ep. 211]
3 april 2022 · 21 min
The spread between the 7-year and 10-year US Treasury has been a leading indicator of US recession and/or global or regional capital liquidity shortages. We review the inversion and flattening from 1990 to the present. Lees meer
----EP. 211 REFERENCES----
Long-end Inversion *Does* Indicate Recession Risks Are Actually Elevated: https://bit.ly/377fY7I
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "1983" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com -
Epic Supply Shock Powers Inflation in US [Eurodollar University, Ep. 210]
2 april 2022 · 22 min
A review of US 2021 Q4 GDP helps explain how surging demand, in concert with mauled logistical supply chains, caused blowout consumer price levels. Also, thoughts on gross domestic income and why real business income is less robust than nominal income. Lees meer
----EP. 210 REFERENCES----
GDP (and GDI) Lays Out The Perfect Supply Shock Case, And Its Downside: https://bit.ly/3uGXHpT
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "1983" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com -
USA Moved Toward Recession in October 2021 - Why? [Eurodollar University, Ep. 209]
1 april 2022 · 20 min
The US Treasury yield and Eurodollar futures curves are inverted, strongly suggesting US recession and/or global monetary disorder lies ahead. This did not happen overnight! When did markets begin their journey to recession warnings? In October 2021. But why? Lees meer
----EP. 209 REFERENCES----
Inversions And Inventory, The Major Products of October: https://bit.ly/3qU5U9k
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "1983" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com -
Algorithmic Stablecoins - a New Monetary Order? [Eurodollar University, Ep. 208]
29 maart 2022 · 35 min
Algorithmic stablecoins may be the solution to our 15-year monetary malfunction. We consider where and if stablecoins fit into money creation, intermediation and whether they'd be units of account, stores of wealth and/or mediums of exchange. Lees meer
----EP. 208 REFERENCES----
*The* Monetary Answer: Undoing The Biggest Money Mistake of the Past: https://bit.ly/3IKVlLz
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Arcaders" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comBen Elson: https://www.epidemicsound.com/artists/ben-elson/
Arcaders: https://www.epidemicsound.com/track/mXeSACLm2g/ -
Treasury Bills Trading Below Fed's RRP 'Floor' [Eurodollar University, Ep. 207]
28 maart 2022 · 28 min
The Federal Reserve's rate hike increased the reverse repo program rate, the so-called rate "floor". But why then are the 4- and 8-week US Treasury Bills trading BELOW the floor? Because there's a collateral shortfall. A monetary deflation perhaps? Lees meer
----EP. 207 REFERENCES----
The Fed Inadvertently Adds To Our Ironclad Collateral Case Which Does Seem To Have Already Included A ‘Collateral Day’ (or days): https://bit.ly/3wFfRv2
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Arcaders" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comBen Elson: https://www.epidemicsound.com/artists/ben-elson/
Arcaders: https://www.epidemicsound.com/track/mXeSACLm2g/ -
Treasury Curve Inversion Expands [Eurodollar University, Ep. 206]
27 maart 2022 · 25 min
The US Treasury yield curve inversion is EXPANDING. It has now subsumed the 3-year note under a tide of negative economic expectations. This is the monetary system's warning claxon, but are the authorities listening? (No.) Lees meer
----EP. 205 REFERENCES----
Inversion Is The Real March Madness, Just Don’t Take It Literally: https://bit.ly/3JF2lLt
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Arcaders" by Ben Elson.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comBen Elson: https://www.epidemicsound.com/artists/ben-elson/
Arcaders: https://www.epidemicsound.com/track/mXeSACLm2g/ -
Curve Inversion Warning Confirmed by TriParty Repo Collateral [Eurodollar University, Ep. 205]
22 maart 2022 · 26 min
The US Treasury yield curve has inverted, strongly implying economic weakness and likely US recession. But can we identify purely monetary (i.e. non-economic) reasons for the inversion? Yes! Like tri-party repurchase agreements. Lees meer
----EP. 205 REFERENCES----
There Is An Absolutely Solid Collateral Case For What’s Driving Curve Inversion(s) [Part 2]: https://bit.ly/3N4BY3y
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639-----------TAGS-----------
#JeffSnider #TriPartyRepo #Repo #Re… -
Curve Inversion Confirmed by Fed's US Treasury Lending [Eurodollar University, Ep. 204]
21 maart 2022 · 26 min
The US Treasury yield curve has inverted, likely because the US economy is weak sauce. But what if we focused solely on shadow-money variables? Can we confirm the inversion warning via measures of shadow-collateral? (Yes) Lees meer
----EP. 204 REFERENCES----
There Is An Absolutely Solid Collateral Case For What’s Driving Curve Inversion(s) [Part 1]: https://bit.ly/3wzX2JJ
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639 -
Treasury Curve Inverts - Recession Countdown Begins [Eurodollar University, Ep. 203]
20 maart 2022 · 22 min
The US Treasury curve has inverted. The countdown to the next American recession has begun. We review what happened, where the inversion is in the yield curve and whether there are enough life jackets for everyone (no). Lees meer
----EP. 203 REFERENCES----
Another One Inverts, The Retching Cat Reaches Treasuries: https://bit.ly/3KZc9Am
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639 -
Bond, Money Markets Warnings [Eurodollar University, Ep. 202]
15 maart 2022 · 20 min
An update on the US Treasury yield and Eurodollar futures curve shapes. Distorted? Contemplative? Grotesque? Retching cat chart pattern? Lees meer
----EP. 202 REFERENCES----
Odd Curve Shapes, or More Chinese Than Russian: https://bit.ly/3IfGwAG
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639 -
1940s were CPI Spike; 1960s were Inflation; What About 2020s? [Eurodollar University, Ep. 201]
14 maart 2022 · 29 min
The 1940s witnessed monstrous increases in consumer prices. But it wasn't inflation. In the 1960s? Smaller increases, but it was inflation. What's the difference? What about today? Lees meer
-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639 -
Yellen Says Fed Ops can just be Psych Pop [Eurodollar University, Ep. 200]
13 maart 2022 · 24 min
You won't believe it but Janet Yellen said in 2013 that narrative supply - not money supply - can be an effective tool. Turns out most Fed action is just popular psychology and the madness of crowds. Lees meer
-----SEE ALL EPISODES-----
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639 -
Repo Fail Swarms Are Back - Shadow Money Warning [Eurodollar University, Ep. 199]
8 maart 2022 · 23 min
Repurchase agreements are short-term collateralized loans made amongst banks. What happens when one party refuses to return the collateral? It's a "fail". They happen in swarms during unhealthy monetary conditions. They're happening now. Lees meer
-----SEE ALL EPISODES-----
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.comLazer Boomerang: https://www.facebook.com/lazerboomerang/
Lazer Boomerang: https://soundcloud.com/user-14207639 -
West tells Russia "Nyet!" to SWIFT - Does it Matter? [Eurodollar University, Ep. 198]
7 maart 2022 · 27 min
Russia has been told they're out of SWIFT! Kind of. And not right away. And only some Russian banks, kind of. Does it matter? What is SWIFT? Lees meer
----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video editor, Terence. Episode intro/outro music is "Hong Kong Story" by Lazer Boomerang.------FIND THE TEAM-------
Jeff: https://twitter.com/JeffSnider_AIP
Jeff: https://alhambrapartners.com/author/jsnider/Emil: https://twitter.com/EmilKalinowski
Emil: https://www.EuroDollarEnterprises.comDavid: https://DavidParkins.com/
Terence: https://www.VisualFocusMedia.com -
Izabella Kaminska (former FT) Talks Financial Media [Eurodollar University, Ep. 197]
7 maart 2022 · 1 uur 1 min
Former editor at the Financial Times (Alphaville!) has struck out on her own - why? Is it a commentary on the business press and/or mainstream media and what they refuse to cover? Izabella has lots of questions for Jeff too.
-
Fedwire Break Takes Economic Recovery Down With It [Eurodollar University, Ep. 196]
3 maart 2022 · 20 min
On February 24, 2021 Fedwire broke down for several hours - it was the the feather that broke the economic recovery camel's back. Copper, gold, silver, the yuan, Kiwi dollar, Treasuries, swap spreads, OATs - even bitcoin - all saw their trajectories change for the worse. Lees meer
------EP. 196 TOPICS------
00:00 INTRO: Fedwire broke for hours on February 24, 2021 and took recovery down with it.
01:18 Many headlines in February 2021 suggest economic recovery and a boom was ahead.
03:00 At 11:15 AM Fedwire, FedCash, FedLine, Check 21 all experienced disruptions.
04:37 Fed's Treasury Market Practices Group says it was not a cyberattack; everything was fine.
05:17 The IMF says they too do not know what happened; no details were provided.
06:01 Fedwire's break resulted in a sea-change across global markets in risk perceptions.
09:05 Headlines were positive in early 2021 but underneath there was rot in the world economy
12:22 Lots of markets inflected away from recovery in response to the Fedwire blackout.
16:00 OUTRO: Russia in 2022, like Covid in 2020, will be blamed for preexisting slowing.----EP. 196 REFERENCES----
A Year Later, The Fact Fedwire Is Still There Tells Us Why Markets Have Done What They’ve Done: https://bit.ly/3srvhAg
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundC… -
Reserve Currency is Constrained, say Swap Spreads [Eurodollar University, Ep. 195]
2 maart 2022 · 16 min
A look at interest rate swap spreads relative to nominal US Treasury yields identifies constrained bank balance sheet capacity. Monetary measures like swap spreads, Eurodollar futures, yield curve flattening are all indicating that the balance of risks is tilting away from recovery and reflation. Lees meer
------EP. 195 TOPICS------
00:00 INTRO: Interest rate swap spreads are a peek at bank balance sheet capacity.
01:43 Bank balance sheet capacity represents ledger money; the reserve currency, eurodollar.
03:04 If bank balance sheet capacity is not available, swap spreads will show it.
08:53 Comparing the 5-, 10- and 30-year swap spreads.
11:55 OUTRO: Swap spreads and Eurodollar Futures both turned away from Reflation at same time.----EP. 195 REFERENCES----
The Money *All* Agrees: Taper Rejection Meets Policy-Error Error: https://bit.ly/3tg6wpZ
The Real Money Doesn’t *Spread* Inflation: https://bit.ly/3stKscv
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illustrations by David Parkins. Audio and video… -
Interview with Macro Alf on Banks, Money & Macro [Eurodollar University, Ep. 194]
1 maart 2022 · 46 min
An insider's view of regulations, bond markets, bank reserves, central banks, quantitative easing, fancy wines, when it's inappropriate to drink cappuccinos, government-guaranteed bank loans and more! Alfonso "Macro Alf" Peccatiello of The Macro Compass joins Jeff Snider (and Emil). Lees meer
------EP. 194 TOPICS------
00:00:00 INTRO: Introducing Alfonso Peccatiello, @MacroAlf and The Macro Compass.
00:04:08 Equities can qualify as high quality liquid assets - if you do it correctly.
00:05:47 Regulations to make banks safe and restrict activity are cosmetic and worked around.
00:08:13 Bank Reserves are inert, non-yielding burdens to the bank portfolio manager.
00:13:17 Will bank reserves be inflationary because the reserves can be turned into cash?
00:15:30 Will bank reserves force a portfolio reallocation into higher (inflationary?) risk?
00:18:27 Do banks replace QE-sold sovereign bond assets with more sovereign bond assets?
00:22:30 Are regulations holding back banks from credit/money creation in the real economy?
00:24:11 Three factors, in alignment, are required for banks to lend / take-on risk.
00:27:57 Bank reserves are immaterial in inflationary AND deflationary environments.
00:32:56 Would government-guaranteed bank loans break the economy out of the depression?
00:41:16 The world's equilibrium interest rate is heading lower with each cycle.
00:43:17 Rehypothecation is a necessity as fewer AAA collateral assets are available.
00:47:14 OUTRO: Follow Alfonso on Twitter (@MacroAlf) and Substack (The Macro Compass).----EP. 194 REFERENCES----
Alfonso Peccatiello's Substack: https://TheMacroCompass.substack.com/
Alfonso Peccatiello's Twitter: https://twitter.com/MacroAlfJeff's Twitter: https://twitter.com/JeffSnider_AIP
Emil's Twitter: https://twitter.com/EmilKalinowski-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deez… -
What Mohamed EL-ERIAN got SO wrong about the Economy [Eurodollar University, Ep. 193]
28 februari 2022 · 54 min
Mohamed El-Erian appeared on Hidden Forces, a great podcast by Demitri Kofinas. But instead of challenging consensus narratives or thinking critically about the power shaping our world El-Erian obfuscated and misdirected Kofinas and the audience about economics, the Fed and history. Lees meer
------EP. 193 TOPICS------
00:00:00 INTRO: Reviewing Mohamed El-Erian's appearance on Hidden Forces with Demitri Kofinas.
00:00:56 El-Erian claims the Federal Reserve has made a "policy mistake" in three phases.
00:02:12 El-Erian: the economy's problem is not insufficient demand, but insufficient supply.
00:04:43 Snider: the supply of goods was inelastic during the 2020-21 covid and shutdowns.
00:06:10 El-Erian: the Fed made a mistake in calling consumer price increases "transitory".
00:08:32 El-Erian: the Fed's rate hikes will be too much for the economy to handle.
00:10:21 El-Erian: labor shortages is proof of a world of insufficient supply; not enough workers.
00:15:15 El-Erian: QE helps keep asset prices elevated through psychological, behavior forces.
00:23:39 Kofinas: Why doesn't the Fed factor financial instability into its actions?
00:25:53 El-Erian: the Fed stopped tightening monetary conditions in Q4 2018 because of stocks.
00:35:45 El-Erian: the market has noticed that we are missing market liquidity.
00:40:35 El-Erian: the 1970s Great Inflation began with an oil shock, expanding from there.
00:43:45 El-Erian: supply shocks can kick off (monetary, persistent and pervasive) inflation.
00:45:47 El-Erian: adaptive expectations in the private economy can lead to inflation.
00:47:15 El-Erian: in the 2020s we are following in the footsteps of the 1970s.
00:51:31 El-Erian: the marketplace is pushing the Fed to increase rates 5 times in 2022.
00:54:01 OUTRO: Check out Demitri Kofinas and the excellent Hidden Forces podcast.----EP. 193 REFERENCES----
Hidden Forces: https://hiddenforces.io/
Demitri Kofinas: https://twitter.com/kofinas
Mohamed El-Erian Episode: https://bit.ly/3poVQ7f… -
Interview with Anne Stevenson-Yang on China [Eurodollar University, Ep. 192]
25 februari 2022 · 47 min
Anne Stevenson-Yang has been living in, writing about and/or focusing her work on China for more than 35 years. We discuss: employment not being a bureaucrat's concern, the transition to uneconomic activity, disinterest in simple social improvements, the 20th National Party Congress, and more! Lees meer
------EP. 191 TOPICS------
00:00:00 INTRO: Anne Stevenson-Yang spent several decades living, working and thinking in China.
00:01:20 Anne introduces herself and J Capital Research, her China and equities firm.
00:03:30 Anne moved to China in 1985; Tiananmen Square massacre changed the nation's trajectory.
00:06:22 Is unproductive debt used to keep people employed?
00:09:36 How long can China's uneconomic investment continue?
00:11:14 Where is the capital / financing for uneconomic investment in China coming from?
00:13:10 Capital flows to China is now predominantly portfolio flows, not foreign direct investment.
00:16:00 China's economic trajectory changed in 2011-12, 2014-16. Why?
00:20:35 Simple social improvements would benefit the masses; Party members aren't interested.
00:21:56 Does the Communist Party believe the post-Mao system has run its course?
00:25:58 Are the regular households of China satisfied with CCP / Beijing leadership?
00:26:46 What or who is the Chinese Communist Party concerned by? What keeps it up at night?
00:28:11 The 19th National Party Congress.
00:34:29 The 20th National Party Congress.
00:39:15 China is walling itself off from foreigners with a quarantine air lock of rooms.
00:44:15 Might China withdraw from the global stage and turn inwards?----EP. 191 REFERENCES----
Anne's Book: China Alone, The Emergence from and Potential Return to Isolation: https://amzn.to/3h19zg4
Anne's LinkedIn: https://bit.ly/3sWo9Ll
Keeping the Flies Out: https://bit.ly/3HcbglsJ Capital Research: https://www.jcapitalresearch.com/
J Cap Twitter: https://twitter.com/jcap_research
J Cap YouTube: https://bit.ly/3Ha2xAh-----SEE ALL EPISODES-----
Alhambra YouTube: http… -
Central Banking Myths Debunked [Guest Appearance, Ep. 191]
22 februari 2022 · 1 uur 6 min
Jeff Snider & Emil Kalinowski dive into debunking central banking myths, explaining the effects of the past on our current time, and more in this November 2021 episode of Blockworks' "On the Margin" with Mike Ippolito. Lees meer
Jeff Snider & Emil Kalinowski dive into debunking central banking myths, explaining the effects of the past on our current time, and more in this week’s episode of On the Margin.
Jeff & Emil are hosts of Eurodollar University, a podcast dedicated to analyzing the 2007 malfunction of the monetary system – and how its continuing disorder – affects finance, politics and society.
Jeff & Emil share their thoughts on the myth of central banking, the Fed’s effect on financial markets, why QE is not money printing, the interest rate fallacy & the role of Bitcoin & digital assets.
They also covered:
The post 2008 global depression
Wealth inequality
and more!“On the Margin” is a two-part show. Once a week, Mike interviews industry experts, and then at the end of the week he is joined by a co-host where they break down the top crypto and macro stories. Episodes go live every Wednesday and Saturday morning.
Subscribe to “On the Margin” today on Apple or Spotify, or watch episodes on YouTube.
https://blockworks.co/podcasts/on-the-margin/
https://blockworks.co/
https://twitter.com/mikeippolito_ -
Treasury Int'l. Capital Data Review, December 2021 [Eurodollar University, Ep. 190]
21 februari 2022 · 19 min
A collateral call in Belgium! Foreign officials are selling US Treasuries! American banks extending less credit to the rest of the world! Japan borrowing more! These, and other, *nerdy* insights for December 2021 from the Treasury International Capital System! Tell all your friends! Lees meer
------EP. 190 TOPICS------
00:00 INTRO: TIC data for December was mixed, some positives, mostly negatives
00:55 Belgium reported a stunning one-month increase in holdings of US Treasuries.
09:11 Foreigners were buying UST overall, though officials were selling US securities.
11:21 US banks borrowed significantly less from the rest of the world in December 2021.
14:42 Japanese banks borrowed more from the US, a reflation positive!
18:10 OUTRO: Markets are sending deflationary signals, which officials will ignore.----EP. 190 REFERENCES----
The Global Money Spec-TIC-le In December: https://bit.ly/3sR49cW
Treasury International Capital System: https://bit.ly/3H1VWaW
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr---------THE TEAM---------
Jeff Snider, Head of Global Investment Research for Alhambra Investments. Master of ceremonies, Emil Kalinowski. Illus… -
Consumer Inflation Expectations... Falling?! [Eurodollar University, Ep. 189]
20 februari 2022 · 27 min
Consumer inflation expectations peaked in October/November 2021, according to the Federal Reserve Bank of New York's Survey of Consumer Expectations. Market based inflation expectations (Treasury Inflation Protected Securities) also peaked then. What in the CPI is going on here? Lees meer
------EP. 189 TOPICS------
00:00 INTRO: The Federal Reserve intends to raise short term interest rates because...???
00:53 The Federal Reserve is not a central bank (it doesn't do money supply / demand).
03:07 The Fed will hike rates because of tight labor market is tight...
04:52 Can we trust a low unemployment rate?
06:12 How many workers short is the USA of recovery?
08:57 The Fed was (very) recently fooled by a (very) low unemployment rate.
11:07 The Fed will hike rates because of (rising?) inflation expectations...
15:47 The FRBNY asks consumers what their expectations are for inflation.
19:00 Market-based inflation expectations peaked in Oct/Nov 2020, like consumer expectations.
21:42 A review of FRBNY survey details of consumer inflation expectations for 3 years ahead.
24:30 High CPI is unlikely to persist because: logistic resolution and economic weakness.
25:21 A review of FRBNY survey details of consumer inflation expectations for 1 years ahead.----EP. 189 REFERENCES----
Federal Reserve’s Own Inflation Expectations Surveys More Agree w/Euro$ Futures Inversion Than Rate Hikes: https://bit.ly/3GYESmb
Survey of Consumer Expectations: https://nyfed.org/3GYrIWg
Why Do We Think That Inflation Expectations Matter for Inflation? (And Should We?): https://bit.ly/3gRFyiI
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Googl… -
Eurodollar Curve Inversion Deepens, Broadens [Eurodollar University, Ep. 188]
19 februari 2022 · 24 min
Caution! Ignore this market warning at your peril. The Eurodollar futures market inversion had deepened and broadened. Eurodollar yields inverted before, for example in 2000, 2005 and 2018. Turned out that Economic Hades was about 18 months away then. What about now? Lees meer
------EP. 188 TOPICS------
00:00 INTRO: The Eurodollar futures curve has deepened AND broadened its inversion.
00:39 The Eurodollar yield curve is like the US Treasury yield curve but global.
02:38 The E$ curve had been getting flatter heading into December 2021, then it inverted.
05:13 The E$ curve raised itself higher in January 2022, good news? No, the inversion stayed.
08:29 The Federal Reserve does not think much of markets, like eurodollar futures.
10:31 Bill Dudley, manager of the Fed's portfolio, blew off the E$ market in 2007.
14:15 The E$ curve inversion spread from one point to many contracts in February 2022.
19:09 What does it mean when Eurodollar future contracts are grouped by color (packet)?
22:14 OUTRO: The Eurodollar market does not believe Fed rate hikes are justified.----EP. 188 REFERENCES----
Major Euro$ Curve Developments (also not clickbait): https://bit.ly/3BtPTuy
Euro$ Curve Chromodynamics: https://bit.ly/3JF7jaL
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/… -
Fed says QE is Really Very Super Extra Terrific [Eurodollar University, Ep. 187]
13 februari 2022 · 24 min
The US government bond market appears to be out of step with CPI, a booming economy and money printing by central banks - what gives? We review two Federal Reserve officials explain that QE is very, really, super powerful (and that's why the bond market signals are haywire). Lees meer
------EP. 187 TOPICS------
00:00 INTRO: Federal Reserve officials say QE is very effective.
01:18 The US Treasury yield curve have been flattening for many months now.
03:49 Bill Dudley wrote a column for Bloomberg on August 9... the anniversary of the end.
05:50 Dudley says the economy is booming and bond yields are wrongly way, way way too low.
07:49 Dudley explains the low yields as 1) too much global savings.
09:40 Dudley explains the low yields as 2) QE being very powerful.
10:27 QE is supposed to work via three channels: sentiment, portfolio and bank reserves.
14:19 Fed President Esther George said 12-years of QE has lowered 10-year yields by 1.5%.
19:31 Most all studies of QE show it to be a meek policy with modest, underwhelming results.
21:21 Low bond yields are not a result of meek / modest / underwhelming QE.
22:47 OUTRO: Central bankers are desperate to discredit the bond market.----EP. 187 REFERENCES----
Bond Yields Can’t Stay This Low Forever: https://bloom.bg/3HLezRO
Another Attempt At QE/Inflation: https://bit.ly/3HIQStl
Everything Is About Obscuring the True State of the Economy: https://bit.ly/3Ls0ivG
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https:/… -
Financial Times says Fed is Central - We Disagree [Eurodollar University, Ep. 186]
12 februari 2022 · 25 min
Journalists Kate Duguid and Eric Platt explain that US government bond markets believe the Federal Reserve will be able to tame inflation. Actually bond markets believe the Fed doesn't know what it's doing AND they believe consumer prices increases are not caused by the Fed. Lees meer
------EP. 186 TOPICS------
00:00 INTRO: The Financial Times says the Federal Reserve will control inflation; Jeff reacts.
01:25 The Federal Reserve will use the labor market data to support rate hikes.
04:24 Are market based inflation expectations for sub-three percent inflation in five years?
06:42 Does the bond market believe the Fed will be able to tame inflation?
10:41 Real rates are "sharply higher" says the FT; relative to the lowest ever says Jeff.
13:24 The FT works backwards to explain the market's behavior to keep the Fed central.
14:54 US employment figures for Nov-Dec '21 and Jan '22 received massive seasonal adjustments.
18:15 OUTRO: The bond market does not believe too much money has caused price increases.----EP. 186 REFERENCES----
Bond market signals room for Fed to raise rates without stalling economy: https://on.ft.com/366WEXR
More Questions Than Clarity On Labor Inflation Pressure As FOMC Seeks Justification For Taper/Rate Hikes: https://bit.ly/3oHiWpr
In Advance of Payroll Friday, ADP Payrolls Go Cold: https://bit.ly/3uHxclV
Payrolls and Population, What A Mess: https://bit.ly/3GIKlxx
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh… -
China's HUGE Trade Surpluses Mask Capital Outflows [Eurodollar University, Ep. 185]
11 februari 2022 · 26 min
China's 2021 trade surpluses were gigantic, so why isn't the yuan surging too? We review China's 2014-21 trade and currency experience from the perspective of the eurodollar, the international reserve currency that once intermediated trade but now intermediates capital. Lees meer
------EP. 185 TOPICS------
00:00 INTRO: Capital flows drive trade, not vice versa. A review of the Chinese trade surplus.
03:39 The eurodollar created itself to finance, intermediate trade; to solve Triffin's Paradox.
06:12 The eurodollar transitioned from focusing on financing trade to intermediating finance.
09:10 The eurodollar created itself offshore (jurisdictions with light-touch regulation).
11:17 Is a US trade deficit necessary for the eurodollar network to create US dollars?
15:13 China's recent trade surplus has been surging suggesting intense eurodollar inflows.
17:12 In 2014-16 China's trade surplus accelerated but the CNY lost value (E$ outflows?).
19:30 In 2017-18 China's trade surplus was stable but the CNY surged in value (E$ inflows?).
20:58 In 2018-19 China's trade surplus slowed but the CNY collapsed in value (E$ outflows?).
22:45 In 2020 China's trade surplus surged and its currency surged in value (E$ inflows?).
23:47 In 2021 China's trade surplus surged but its currency slowed in value (E$ outflows?).
25:44 OUTRO: If China's eurodollar outflow continues it'll weigh on the global economy.----EP. 185 REFERENCES----
China’s Total Dollar Equation: CNY minus Trade Flows equals Some Sense of the Euro$ Problem?: https://bit.ly/33fLy1C
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reaso… -
Flattest Yield Curve is Warning Off Fed [Eurodollar University, Ep. 184]
31 januari 2022 · 18 min
After Today’s FOMC, Yield Curve Is Already As Flat As It Was In Mar ’18 **Without A Single Rate Hike Yet**
https://alhambrapartners.com/2022/01/26/after-todays-fomc-yield-curve-is-already-as-flat-as-it-was-in-mar-18-without-a-single-rate-hike-yet/ -
Oil, Bitcoin & Treasury Inflation Protected Securities Update [Eurodollar University, Ep 183]
30 januari 2022 · 14 min
Oil prices are up and so you would expect that Treasury Inflation Protected Security breakevens (inflation expectations) are ALSO up... but they are not. Like Bitcoin, TIPS are ignoring oil and focusing on something bigger, something worse?
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Retail Inventory Stockpile Surges in USA [Eurodollar University, Ep. 182]
29 januari 2022 · 24 min
Retail inventory grew at a tremendous pace month-over-month in December 2021 in America. Overall inventory growth was so strong that it contributed overwhelmingly to a strong (?) increase in US GDP for the Q4. But is this actually good news?
-
Eurodollar Futures & Treasury Yield Curve Update [Eurodollar University, Ep. 181]
25 januari 2022 · 1 uur 5 min
The Eurodollar futures curve inverted in December 2021 - what has it done since? Also, how to interpret the US Treasury yield curve in "three easy steps!" Lastly, did the Fed cause the price of (Buffalo) (chicken) wings to rise?
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Why Mass Formation Psychosis? [Eurodollar University, Ep. 180]
21 januari 2022 · 1 uur 13 min
PART 1: Inflation @ 7% but... Lees meer
PART 2: Bonds Losing Value - Worst in 2 Years! - but...
PART 3: Year 15 of Mass Formation Psychosis (We Explain Why)
None of the "Mass Formation Psychosis" interviews with Joe Rogan, Chris Martenson, Robert Malone or Mattias Desmet explained WHY and WHEN. In this episode we do: a 15-year (so far) worldwide economic depression, only the third in the past 150 years.
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Irrational Exuberance, Again? [Eurodollar University, Ep. 179]
9 januari 2022 · 57 min
Alan Greenspan warned in 1996 we would not know if stocks were irrational because we could not know how much money was in the economy. Also, wages are rising - just like they did in the Great Depression? Lastly, the October 2021 Treasury International Capital update. Lees meer
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The Houdini of Macroeconomics Escapes Inflation Box [Eurodollar University, Ep. 178]
20 december 2021 · 1 uur 1 min
PART 01: The Fed has to taper faster because consumer prices (i.e. motor fuel, automobiles) rose faster than it expected. It didn't have the moxie to stare down the CPI increase and explain why QE (i.e. 'money') had nothing to do with CPI. Maybe they're not really a central (money) bank. Lees meer
PART 02: The US consumer price index increased by 6.8% year-over-year for the month of November. Inflation, right? Undisputed, incontrovertible evidence of inflation! Step right up and watch the amazing Harry Houdini of Macroeconomics escape this box of inflation and call it "not inflation".
PART 03: Headline US wholesale inventories AND sales look incredible—Hallelujah! But if we exclude petroleum products? Inventory growth is outpacing sales growth—Humbug! And if we exclude motor vehicle parts and petroleum? Inventory growth is materially ahead of sales growth—Bah Humbug!
----EP. 178 REFERENCES----
Taper Rejection: https://bit.ly/3maMRFs
The Higher The CPI, The Less For Inflation: https://bit.ly/3p2XZpn
Sure, Tomorrow the CPI But Future CPI’s In Today’s Inventory?: https://bit.ly/3258EHC
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-------SHOW SPONSOR-------
Macropiece Theater with Emil Kalinowski (a/k/a Alistair Cooke, a/k/a Alistair Cookie) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from: Adam Smith, Arthur Schopenhauer, Bank for International Settlements, George Friedman, J.P. Koning, Jean-Paul Sartre, Karl Marx, Liberty Street Economics, Lyn Alden, Maroon Macro, Matt Stoeller, Michael Pettis, Myrmikan, Perry Mehrling, Robert Breedlove, Rohan Grey, Velina Tchakarova and yes, even Jeff Snider.-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil… -
Eurodollar Warning Confirmed(?) by USA GER JPN & CHN [Eurodollar University, Ep. 177]
13 december 2021 · 1 uur 3 min
PART 01: The Eurodollar futures curve inverted on December 1st - what's happened since? Also, does the American, German and Japanese sovereign bond market corroborate the Eurodollar futures warning? Lastly, does China's lowering of its bank Required Reserve Ratio buttress the E$ warning too? Lees meer
PART 02: US Job Openings are near record highs, suggesting a rip-roaring economy. But Hires are nowhere near the same heights, suggesting a lousy economy. On the other hand, quits are at record highs, suggesting great opportunities for employees to upgrade. How to reconcile the conflicting signals?
PART 03: Gillian Tett writes that the US economy is doing quite well (e.g. goods consumption) but also quite poorly (e.g. consumer sentiment) and asks how to reconcile conflicting signals. Jeff Snider reacts live to the Financial Times columnist, suggesting new models are unnecessary.
----EP. 177a REFERENCES---
Euro$ Futures: There Be Landmines: https://bit.ly/3y8PdsU
An Inversion That Will Likely End the Inflation Narrative: https://bit.ly/335vQ8G
A Global JOLT(s) In July: https://bit.ly/31JGQrJ
Jobless Claims Slump to 52-Year Low: https://bit.ly/3IELyIg
How's the Economy Doing? That Depends on Your Perspective: https://on.ft.com/3EJUjOR
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL----HEAR ALL EPISODES-----
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast:… -
Reading The Fed Guy: Mechanics of a Devaluation [Macropiece Theater, Ep. 176]
6 december 2021 · 9 min
The inflationary process is in its early stages, and it will be particularly strong because it arises in part from a devaluation of the world’s reserve currency. A reading, by Emil Kalinowski. Lees meer
----------WHO----------
Joseph Wang, author of the 2021 book Central Banking 101, spent five years as the senior trader on the open markets desk at the Federal Reserve. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
Mechanics of a Devaluation: https://bit.ly/31e8Wvf----------WHERE----------
Joseph's Book: https://amzn.to/3I688ZW
Joseph's Blog: https://fedguy.com/
Joseph's Twitter: https://twitter.com/FedGuy12Emil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Inversion [Eurodollar University, Ep. 175]
5 december 2021 · 1 uur
PART 01: You've heard that when the US Treasury yield curve inverts it is a recession warning for the United States. What about when the Eurodollar futures curve inverts? That is a warning too. A monetary red alert for the entire world economy. On December 1st the Eurodollar curve inverted. Lees meer
PART 02: When the US Treasury yield curve inverts it's a recession warning for the United States. What about when the Eurodollar futures curve inverts? That's a warning too; a monetary Red Alert for the entire world economy. On December 1st the Eurodollar curve inverted. Welcome to Hades.
PART 03: Since 2008 the pace of purchases, sales - and everything in between - has not affected the price of bond yields. Indeed, bond yields seem to go the opposite way of they're 'supposed' to act. But what about the stock of purchases? Is there a total, that once reached, becomes critical?
----EP. 175 REFERENCES---
This Is A Big One (no, it’s not clickbait): https://bit.ly/3oeNNKf
If Not ‘Flow’, Then Has ‘Stock’ ‘Rigged’ The Flattening Curve In QE’s Favor?: https://bit.ly/32Ijkf9
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-------SHOW SPONSOR-------
Macropiece Theater with Emil Kalinowski (a/k/a Alistair Cooke, a/k/a Alistair Cookie) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from: Adam Smith, Arthur Schopenhauer, Bank for International Settlements, George Friedman, J.P. Koning, Jean-Paul Sartre, Karl Marx, Liberty Street Economics, Lyn Alden, Maroon Macro, Matt Stoeller, Michael Pettis, Myrmikan, Perry Mehrling, Robert Breedlove, Rohan Grey, Velina Tchakarova and yes, even Jeff Snider.-----SEE ALL EPISODES-----
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bi… -
Reading Mises: Economic Consequences of Cheap Money [Macropiece Theater, Ep. 174]
4 december 2021 · 32 min
What does an expansionist monetary policy produce? Is it wise to lower the rate of interest so as to encourage economic activity? The classic text, by Ludwig von Mises. A reading, by Emil Kalinowski. Lees meer
----------WHO----------
One of the most notable economists and social philosophers of the twentieth century, Ludwig von Mises, in the course of a long and highly productive life, developed an integrated, deductive science of economics based on the fundamental axiom that individual human beings act purposively to achieve desired goals. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
The Economic Consequences of Cheap Money: https://bit.ly/3paz1TU----------WHERE----------
Mises Institute: https://mises.org/
Mises Institute Twitter: https://twitter.com/misesEmil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Reading Frances Coppola: Central Banks Can Fight Climate Change [Macropiece Theater, Ep. 173]
3 december 2021 · 16 min
Corporate QE amounts to a subsidy to large corporations, corporations that use the money to buy back shares and give big bonuses to executives. It would be far better for central banks to support small businesses and new ventures, particularly those pursuing solutions to climate change. A reading, by Emil Kalinowski. Lees meer
----------WHO----------
Frances Coppola, author of the 2019 book "The Case For People's Quantitative Easing", is a financial writer and blogger who appears regularly in Forbes and The Financial Times. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
How central banks can fight climate change: https://bit.ly/3leXPcp----------WHERE----------
Frances' Book: https://bit.ly/3paVVe3
Frances' Twitter: https://twitter.com/frances_coppola
Frances' Website: https://www.coppolacomment.com/Emil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Reading Dr. Pippa Malmgren: WW3 Has Already Started [Macropiece Theater, Ep. 172]
2 december 2021 · 14 min
An uncomfortable truth: WWIII is not on the horizon, it is here. Militaries around the world are in a state of high-alert. “Sub-threshold" events are occurring with increasing frequency. War is digitizing. A reading, by Emil Kalinowski. Lees meer
----------WHO----------
Dr. Pippa Malmgren, author, economist, former White House advisor, entrepreneur and venture capitalist, is a well-recognized female voice in financial and geopolitical circles. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
WWIII Has Already Started: https://drpippa.substack.com/p/wwiii-has-already-started----------WHERE----------
Pippa's Substack: https://drpippa.substack.com/
Pippa's Twitter: https://twitter.com/DrPippaM
Pippa's Website: https://pippamalmgren.co.uk/index.htmlEmil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Reading Matt Stoller: Economists label Cattle Ranchers "Emotional", then Defend Beef Monopoly [Macropiece Theater, Ep. 171]
1 december 2021 · 32 min
Agricultural economists manipulated data to block Congress from acting on high beef prices and the destruction of independent cattle ranching. Why? Because they think monopolies are good. A reading, by Emil Kalinowski. Lees meer
----------WHO----------
Matt Stoller, author of the 2019 book "Goliath: The 100-Year War Between Monopoly Power and Democracy", is a fellow at the Open Markets Institute and advises policymakers on the problem of monopoly. He has lectured on competition policy around the world and his writing has appeared in various news media and publications. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
Economists to Cattle Ranchers: Stop Being So Emotional About the Monopolies Devouring Your Family Businesses: https://bit.ly/3nZBP7g----------WHERE----------
Stoller's Book: https://bit.ly/2YTD5iB
Stoller's Substack: https://mattstoller.substack.com/
Stoller's Twitter: https://twitter.com/matthewstollerEmil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Reading Adam Tooze: Global Food Price (Crisis?) [Macropiece Theater, Ep. 170]
30 november 2021 · 23 min
According to the FAO Food Price Index, the cost of food has surged in real terms to levels last seen in the 1970s - during the Great Inflation. But another data set, by the OECD shows no such surge at all. What's going on? Is there a food price crisis, or not? A reading, by Emil Kalinowski. Lees meer
----------WHO----------
Adam Tooze, author of the 2021 book "Shutdown: How Covid Shook the World's Economy", a professor of history at Columbia University. His 2018 book "Crashed" was the winner of the Lionel Gelber Prize, a New York Times Notable Book of 2018, one of The Economist's Books of the Year, and a New York Times Critics' Top Book. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
Chartbook #47: Crisis Talk - Global Food Prices: https://bit.ly/3cWhB88----------WHERE----------
Adam's Book: https://adamtooze.com/shutdown/
Adam's Substack: https://adamtooze.substack.com/
Adam's Website: https://adamtooze.com/
Adam's Twitter: https://twitter.com/adam_toozeEmil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Reading Allison Fedirka: Fertilizers & Food Insecurity [Macropiece Theater, Ep. 169]
29 november 2021 · 15 min
Fertilizer is a critical input to global food production but circumstances have conspired to throw a spanner into the food supply chain works. The supply and demand imbalances have caused a spike in fertilizer prices and, consequently, raised the costs of producing food. Who will pay for these increases? Farmers? Consumers? Is a period of food insecurity ahead? How long might it last? A reading, by Emil Kalinowski. Lees meer
----------WHO----------
Allison Fedirka of Geopolitical Futures. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound.----------WHAT----------
Fertilizers and Food Insecurity: https://bit.ly/3I12ZlR----------WHERE----------
Allison Fedirka's Writings: https://geopoliticalfutures.com/author/afedirka/
Allison Fedirka's Twitter: https://twitter.com/afedirkaGeopolitical Futures: https://geopoliticalfutures.com/
Geopolitical Futures Twitter: https://twitter.com/gpfuturesEmil's Twitter: https://twitter.com/EmilKalinowski
David's Art: Art: https://davidparkins.com/---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr -
Red or Blue Pill? Bonds say Powell will opt for Blue [Eurodollar University, Ep. 168]
28 november 2021 · 59 min
PART 01: Jay Powell has been nominated by President Biden to serve another term as the Federal Reserve chair. Though his nomination has not even been heard by the US Congress, another group of people has already passed judgement on the second term: the bond market (and they say it'll be a failure!). Lees meer
PART 02: The Federal Reserve, and other central banks, buy tremendous amounts of government securities and this should impact bond prices. Should, but doesn't. That's because there's an even more powerful force than the Fed, the bond market itself. We review the 2007-19 evidence.
PART 03: The nominal value of Chinese imports of iron ore, German exports and Japanese exports all look pretty, pretty good. But the unit volume is pretty, pretty awful. There are fewer units being utilized! This is an economic warning that is presently hidden behind hire prices (value = unit * price).
----EP. 168 REFERENCES----
#continuity The Least Useful Person: https://bit.ly/3r4k8VN
Sorry Jay, Curve(s) #continuity Is Not A Good Thing: https://bit.ly/3DP5XYn
No, The Fed Does *Not* Rig The Bond Market And It Only Takes Five Seconds To Debunk This Myth: https://bit.ly/3CLJMRu
How the Fed Rigs the Bond Market: https://on.wsj.com/3p0eC3V
The ‘Growth Scare’ Keeps Growing Out Of The Macro (Money) Illusion: https://bit.ly/3cM2j5t
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7-------SHOW SPONSOR-------
Macropiece Theater with Emil Kalinowski (a/k/a Alistair Cooke, a/k/a Alistair Cookie) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from: Adam Smith, Arthur Schopenhauer, Bank for International Settlements, George Friedman, J.P. Koning, Jean-Paul Sartre, Karl Marx, Liberty Street Economics, L…