94.2 BIGGEST EVER IMF SDR Allocation Means: little

———Ep 94.2 Summary———
The IMF will ‘print’ $650 billion — BILLION! — in SDR-money to help with global liquidity. BIG numbers! BIG Deal! But we’ve heard this before from the IMF, like in 2009, their last BIGGEST EVER allocation, which was as effective as QE1, QE2, QE3, QE4, QE5, QE6…

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

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———Ep 94.2 Topics———

00:00 Show Intro: The IMF has released its largest EVER allocation of SDR ‘money’.
00:17 Show Sponsor: Zimbabwean Office Depot Print Shop on Springfield and Main.
01:05 The IMF has released $650 billion of SDRs in 2021. What is the IMF? What is an SDR?
04:13 The SDR sounds a bit like national central banks creating bank reserves.
05:15 There are five currencies in the SDR basket. How / why did the Chinese yuan get included?
08:56 IMF SDR allocations took place in 1970-72, 1979-81, 2009 and 2021 for different reasons.
10:57 The 2009 IMF SDR liquidity allocation was gigantic; it didn’t solve the liquidity crisis.
12:50 What does China in 2015-16 and the SDR tell us about today?
14:15 Show Summary: the IMF has made a big deal out of big numbers but we’ve seen this before.

———Ep 94.2 References———

Sophistry Dressed (as) Reallocation: https://bit.ly/3rZOhUM
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

———Who———

Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by David Parkins. Podcast intro/outro is “Sweet Distraction” by Ealot from Epidemic Sound.