81.1 Introducing a NEW Measure of Shadow Money Pt. 1
———Ep 81.1 Summary———
A new measure of the monetary order will be unveiled at the end of this two-part episode. But first, a discussion of uncertainty, incomplete pictures, relativity, perspective and the limits of human knowledge. Also, bank reserves and repurchase agreements.
———Ep 81.1 Topics———
00:00 A new measure of the monetary order will be unveiled at the end of a two-part episode
01:00 Who were Niels Bohr and Werner Heisenberg?
02:51 What does uncertainty have to do with life? Is reality what we perceive or something else?
06:05 Economics, like the natural world, is so complex that it is beyond perceiving reality.
08:02 Bank reserves – simple enough, in isolation, which they are not, so not simple at all
09:29 Repurchase Agreements – how does a bank pay for an asset? Does it want to own the asset?
17:35 A buyer of an asset can source the cash several ways: shorting, swapping, anticipating
20:19 A buyer of an asset can source the cash via the repo market.
———Ep 81.2 References———
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski, reality is advantageous.