Eurodollar University’s Making Sense; Episode 33; Part 3: GDP’s A Monster, Dollar’s A Ghost

———WHERE———

———WHO———

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Art: https://davidparkins.com/

Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, redrum redrum REDRUM! Artwork by the modern day Gustave Doré, David Parkins. Podcast intro/outro is “Fugent” by Lupus Nocte at Epidemic Sound.

———WHY———

33.3 Zombie (Economy) Apocalypse due to Dollar Disease

US banks get most of their US dollars from OUTSIDE of the US. But a dollar disease has infected the offshore monetary order, starving US banks of funding. In turn, US businesses are left malnourished. Hence, the lethargic, undead zombie economy.

[Emil’s Summary] Broadcasting from the kingdom of NYE, I’m Art Bell and this is Coast to Coast AM from the great beyond. Tonight we’ll talk to General Johnson Jameson from his bunker complex beneath the Saskatchewan crust, as to whether Y2K can still happen. Then… ‘Do you want to believe?!’ The government doesn’t want you to. Chris Carter, creator of the X-Files, will tell us exactly which episodes the government didn’t want you to see. Also, Rod Sterling will join me live in studio… well in a manner of speaking. Was the Twilight Zone a documentary that had to be presented to the public as fiction…?

Our time on Earth is indeed, very short. No matter how old or young you are, you are a tiny slice of the cosmos’ plan. You’re here for a very, very short time. We all are. And the big question of course is, what happens after we end this physical life… or it is ended, however you have it. It’s a big question. And October, of course, is a great time to explore that question because one of the main things you look for is some – any evidence of life beyond the physical. The supernatural, the apparition, the unexplained, the Kachina doll that seems to move around the house by itself…

There’s no place more spooky and unexplained than central banking and the monetary order. Let us then enter another dimension. A monetary realm. Let us turn to the wildcard line. Jeff, Emil… can you hear me? This is Art Bell.

———WHEN———

00:05 America’s best economic quarter history! But there’s a $1 trillion monster under the bed
04:49 What was the $1 trillion in subsidies from the government doing in the economy?
05:59 What is the permanent income hypothesis? How is $1 trillion not going to cut it long-term?
09:06 Why does a dollar shortage matter to businesses both in the US and around the world?
11:22 US companies borrow dollars from US banks. But where do US banks get THEIR dollars from?!
13:00 The Bank for International Settlements says this offshore dollar system is “opaque”.
13:53 The BIS identified the repo market in a recent report — calling it “opaque”.
16:29 What is Jeff Snider’s favorite Halloween candy?

———WHAT———

The Dollar Disease Well Predates the Coronavirus: https://bit.ly/3kLVaod
BIS “US dollar funding – an international perspective”: https://bit.ly/31Yurxi
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7

Eurodollar University’s Making Sense; Episode 33; Part 3: GDP’s A Monster, Dollar’s A Ghost

About the Author: Jeffrey P. Snider

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