Ghost Money, the Eurodollar and Crypto

Jun 2, 2021

Ask episode

Chapters

Transcript

Episode notes

PART 01: All of a sudden the Federal Reserve's Reverse Repo Program has exploded higher to half-a-trillion dollars. Why? The mainstream, orthodox narrative is that 'this is fine'; a response to 'too many bank reserves'. What does it really mean? Collateral scarcity. Systemic fragility. A warning.

PART 02: Chile, one of the 20th-century's rare economic success stories - from a low level of development to just short of advanced - held an election to rewrite its constitution. The winners? Anti-capitalists. And why not? After all, if a decade-long depression is capitalism...

PART 03: In the 15th century there was a Great Bullion Famine, which was solved by "ghost money". In the 1950s there was a Dollar Shortage, which was solved by the "eurodollar". In 2007 the Great Eurodollar Famine began (and hasn't ended!). Will it be solved by crypto currencies?

---------SEE IT-----------
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL

---------HEAR IT----------
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr

--------REFERENCES--------
Reserving Observations On The Reverse Repo Of Reserves: https://bit.ly/3c4hyXz
No Reserving Interpretation About Reverse Repo Collateral Connection(s): https://bit.ly/3usmxb7
Chilling Global Wind Blowing Stronger: Chilly In Chile: https://bit.ly/3vy1Yv9
We'll Continue Hearing About a Global Recovery That Isn't Real: https://bit.ly/3yW4TQz
Monetary Wrongness Has Authored a Crypto Response: https://bit.ly/3uzLIZ4
Enter the Ghost - Cashless Payments in the Early Modern Low Countries, 1500-1800: https://bit.ly/3fuagyC
The Vagaries of the Sea: Evidence on the Real Effects of Money from Maritime Disasters in the Spanish Empire: https://bit.ly/3fwXKyr
Alhambra Investments Blog: https://bit.ly/2VIC2wW
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 "All Right" by William Benckert feat. Johan Tengholm, Jonas Bäckman at Epidemic Sound.