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collateral hoarding

Can’t Forget About Dealers

By |2017-08-15T17:11:48-04:00August 15th, 2017|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

When the Federal Reserve was founded in 1913, there was no role for it in the marketing and selling of government debt. This wasn’t an oversight on the part of Congress. For more than two years before the Fed, the Treasury Department hadn’t issued any marketable instruments at all. In those days it just didn’t seem a necessary function. World [...]

The Official Face of the ‘Rising Dollar’, Written Officially As Farce

By |2016-07-26T18:13:22-04:00July 26th, 2016|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Last July, the US Treasury Department finally issued its official report detailing its account of what happened on October 15, 2014. The statement was co-authored by staff at the Board of Governors of the Federal Reserve System, FRBNY, the SEC, and CFTC, as if the government were going overboard trying to prove its word the end of the matter. As [...]

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