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6min chapter
Jeff Snider: The Credit Crunch Is Here As Ultra Rare Bond Market Signal Flashes Red For First Time Since 2008
Forward Guidance
The Importance of Collateral in the Economy
Jeffrey Gundlach: Collateral is fungible in the way that cash never is. And you talk about a collateral. So Treasury bill, you can buy it for, you know, $97, not depending on the term wherever. That can be pledged as collateral for a loan. But what about parking it something in a reverse repo facility or basically having cash? Like why are the other things not collateral? He says we have this immense, enormous global monetary system denominated in US dollars primarily and there just isn't enough collateral to go around.
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