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If You Believe There Was Too Much Money During The Monetary Panic, Then Why Not Heroin

By |2017-03-06T16:31:34-05:00March 6th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

November 2008 was an extremely busy month for authorities in the US. The financial markets had just undergone panic the month before, but rather than dissipate there were lingering indications that all was not yet over. On November 23, 2008, the Treasury Department, the FDIC, and the Federal Reserve issued a joint statement on Citigroup. The first two had agreed [...]

Way Past Humpty Dumpty

By |2017-02-03T17:51:41-05:00February 3rd, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The most basic link in finance is that between risk and reward. Just like alchemists who once sought a path to gold from lead, a great deal of modern finance was built around finding a shortcut between them. Discovering the great asymmetry where risks would be low but rewards sky high was the Holy Grail of later 20th century mathematics. [...]

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