98.3 Lightning Round: AUD CNY Au/Ag RRP ECB NG1 BoE and QE!

———Ep 98.3 Summary———
Lightning round review of the: Australian dollar, Chinese yuan, gold-silver ratio, Federal Reserve’s reverse repo program, European Central Bank’s symmetric inflation target and natural gas. Also, the House of Lords questions the Bank of England’s use of QE.

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Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
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Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

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———Ep 98.3 Topics———

00:00 Intro: A potpourri review of the AUD, CNY, Au/Ag, RRP, ECB, NG1, BoE and QE.
00:28 The Australian dollar and Chinese yuan tracked each other until June 16-18. A warning?
02:45 The gold-silver ratio bottomed on February 25, signaling an end to reflation / inflation.
05:46 Why did the AUD-USD and USD-CNY diverge in June? It coincides with the Fed’s RRP.
06:03 The European Central Bank wants to achieve a “symmetric” 2% inflation target. Pfft, ok.
10:21 There’s a difference between supply-demand price spikes and monetary/fiscal inflation.
15:01 The House of Lords reviewed the Bank of England’s use of QE and found it wanting.
18:23 A few choice quotes from the House of Lords about the BOE and its use of QE.
20:55 Outro: QE continues to disappoint and is a waste of time and socio-economic cost.

———Ep 98.3 References———

China, Australia, and The European Way Into Reverse Repo: https://bit.ly/2WYpuFr
ECB: The new monetary policy strategy: implications for rate forward guidance: https://bit.ly/3h2hlXm
Finally, QuEstioning ‘Easy Money’: https://bit.ly/3h2hlXm
Quantitative easing: a dangerous addiction?: https://bit.ly/3tmCUa7
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7


Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the pen of the people, David Parkins.  Podcast intro/outro is “UntrainedEye” by _91nova from Epidemic Sound.