The Fed Proposes A Repo Facility, QE5
QT. Bank reserves. Balance sheet normalization. They really are going through all the motions in 2019. It’s as if officials can sense something just isn’t quite right. This would amount to a serious setback, of [...]
Greenspan’s Massacre Masterpiece
What most Economists “learned” from the Great Inflation was how important psychological factors had become. You would think that such a huge monetary disconnect would teach especially monetary officials the importance of monetary competence. However, [...]
Decaying Offshore Money Is A Lot More Than An Offshore Decay
During the first quarter of 2008, as Bear Stearns teetered on the edge of illiquidity, foreign holders of US$ financial assets contributed $9.3 trillion to US credit markets. According to the Fed’s Z1, the Financial [...]
Curve Crazy Again; Or, The ‘Dovish’ Turn Falls Apart, the Culprit Revealed
Everyone went dovish after what happened in December. Convention assumes that central bankers take their cues from the NYSE. I don’t think that’s what shook everyone up, though. Curves, ladies and gentlemen. The bond market [...]
Should You Name A Trust As An IRA Beneficiary?
When naming a beneficiary for your IRA the number one choice is a spouse, a child, or a relative. There’s something in our DNA that wants to make sure our money stays in the family [...]
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