Does anyone remember the petroyuan? It doesn’t appear so, though not because the thing disappeared rather due to the fact that it didn’t. It was a really big deal for a time, pretty much all of 2018. What it was supposed to have represented was the dollar’s death knell. Guaranteed, one hundred, no, one thousand percent dead. This was widely [...]
We have to be somewhat careful in making too much out of statistics taken at extreme times like these. Massive moves can trigger unreliable noise in them. The second quarter of 2020 qualifies in every possible way. And the numbers it has produced are certainly extreme.Late last week, the Bureau of Labor Statistics (BLS) issued its preliminary assessment of labor [...]
You have to laugh at the absurdity of the puppet show theater. A few months ago when bond yields backed up a little bit, as they do from time to time, everyone from Bond Kings to Dollar Crash-ists to Economists to just about every writer at the Wall Street Journal and Bloomberg became fixated on yield caps (or yield curve [...]
———WHERE——— AlhambraTube: https://bit.ly/2Xp3roy Apple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr ———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, trying to punch out of the box. Artwork by David Parkins, the thinking man’s Auguste Rodin. ———HOW——— Learn why Eugene Fama, the Nobel [...]
Before getting into the why of the dollar’s stubbornly high exchange value in the face of so much “money printing”, we need to first go back and undertake a decent enough review of the guts maybe even the central focus of the global (euro)dollar system. I’ve written before that the repo market is the lender of last resort, not central [...]
While the world is taking the smallest of baby steps in the right direction, mostly it’s been related to the part of the eurodollar system that everyone can see. Not bank reserves and the Fed’s “money printing”, though you can see them and we’re told to obsess about them those things don’t matter. I mean instead the dollar’s exchange value; [...]
According to the latest figures, Japan has tallied 56,074 total coronavirus cases since the outbreak began, leading to the death of an estimated 1,103 Japanese citizens. Out of a total population north of 125 million, it’s hugely incongruous. For now, however, it does present an obvious reason why the government there didn’t go to such deliberate lockdown extremes as so [...]
———WHERE——— AlhambraTube: https://bit.ly/2Xp3roy Apple: https://apple.co/3czMcWN iHeart: https://ihr.fm/31jq7cI Castro: https://bit.ly/30DMYza TuneIn: http://tun.in/pjT2Z Google: https://bit.ly/3e2Z48M Spotify: https://spoti.fi/3arP8mY Castbox: https://bit.ly/3fJR5xQ Breaker: https://bit.ly/2CpHAFO Podbean: https://bit.ly/3enSAkr Stitcher: https://bit.ly/2C1M1GB Overcast: https://bit.ly/2YyDsLa PocketCast: https://pca.st/encarkdt PodcastAddict: https://bit.ly/2V39Xjr ———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, trying to punch out of the box. Artwork by David Parkins, the thinking man's Auguste Rodin. ———HOW——— Central bankers are [...]
Forget scripted television. If you want Game of Thrones-style palace intrigue, you can do no better than Beijing in 2020. There are all sorts of rumors floating around, few of which can ever get confirmed. It’s not that there are rumors but rather how many of them, and how they don’t seem to be stamped out with the usual regularity [...]
Imagine you are locked in your home and can only go outside of it to purchase the bare necessities (this would’ve sounded ridiculous in every year before 2019). For simplicity’s sake, let’s assume that you normally spend $100 every month, half of that on the basics. Thus, for the month preceding this lockdown you’d have laid out the full hundred [...]
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