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The Solution Is To Stop Being Backward

By |2020-03-20T18:59:07-04:00March 20th, 2020|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I knew long before they came out that it was going to be a shitshow, pardon my French. You don’t screw up that badly and let the worst global monetary crisis in four generations happen on your watch with it having been any other way. So, when the FOMC transcripts for 2008 finally came out early in 2014, I knew [...]

Why It’s The ‘Money’ Stupid

By |2015-09-11T18:04:52-04:00September 11th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

When grounded in the framework of traditional banking, wholesale dynamics can be quite confusing to the point of being impenetrable. Nowhere is that more the case than the wholesale ideas of currency and what counts for establishing chains of traded liabilities. In the traditional banking/monetary framework, everything is reducible to money; all else are just derivative claims on it. The [...]

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