money supply

The Aid of TIC In Sorting Shorts and Shortages

By |2018-10-17T11:58:06+00:00October 17th, 2018|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Asians are selling their Treasuries again, which can only mean one thing. The mainstream media will offer all sorts of explanations as to why that might be and not a single one will be correct. China and Japan are offloading US$ assets primarily federal government debt for vastly different reasons. Their decisions spring from [...]

How To Totally Misinterpret Deflationary Impulses

By |2018-07-16T18:36:51+00:00July 16th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Sometimes it pays to wait. Better to be sure than premature. In January 2014, the journal Central Banking handed out its inaugural awards. Among the recipients was Paul Volcker who was bestowed a lifetime achievement prize. The initial Governor of the Year honorific, something like a central banker MVP, went to Mario Draghi of the [...]

Two Very Different Monetary Cases, And Their One Common Theme

By |2017-12-13T12:21:13+00:00December 13th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

When we look back at the period known as the Great Inflation there is a tendency, I believe, to truncate the episode only to the most well-known parts. What many people remember are things like gas lines, where oil problems and embargoes left Americans at several points in the seventies too often stuck for trying [...]

EURODOLLAR UNIVERSITY: What Are Reserves To A Modern, Wholesale Money System?

By |2017-11-20T18:22:49+00:00November 20th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It's actually quite difficult to answer the question posed in the title, which in itself is a clue. What we know for sure is what does not count as reserves for a non-reservable currency system. It's that contradiction that sets off the often graphic misconceptions. Quantitative easing has been described as printing money. That’s certainly [...]

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