#067 Jeff Snider: Markets Are 'Screaming Bloody Murder' And Are Hedged For A 2008-Style Scenario

Jeff Snider (@JeffSnider_AIP) is an expert on the global monetary system, specifically the Eurodollar money system, and all aspects of its misunderstood inner workings and how they impact global markets, commerce, and the economy. His podcast Eurodollar University aims to educate the public on the evolution, nature, and nuances of the Eurodollar system and true monetary principles. He is a regular contributor to Real Clear Markets and a columnist for the Epoch Times and is active on Twitter as well as He has been a guest on countless programs, including MacroVoices, and Real Vision, for his insights into the Eurodollar system, LIBOR and repo/securities lending markets., etc.

During episode 67, Jeff explains that since late last year, markets have been "screaming bloody murder" in a way that hasn't been since 2007. According to Jeff, markets are hedged for a 2008-style scenario.

0:00 Introduction

1:53 Welcome Jeff Snider

2:40 Macro picture is “all sorts of ugly”

3:29 Economy in 2021 was an “artificial high”

4:00 Not just about macro, also about monetary system too

4:40 Still in the beginning stages

5:11 The economy is looking worse in short to intermediate-term outlook

6:00 Base case is mass layoffs

6:33 A false sense of confidence about the unemployment rate

9:48 Unemployment

11:43 The market is screaming bloody murder

12:48 A 2008-style scenario

14:40 Something wrong in the global system

17:30 How’d we get here?

18:20 Misconceptions around money printing and interest rates

19:45 Suffering from a lack of credit growth

22:06 The Eurodollar story

26:00 The Fed doesn’t print money

27:50 Distortions in the economy

29:00 Fed is ‘smoke and mirrors’

33:00 What is money?

34:34 Banking crisis

36:23 Monetary system has become incredibly fragile

37:33 Fragility of the monetary system

38:07 A shortage of good quality collateral

43:00 Treasury Bills

46:00 De-dollarization story

49:00 Shortage of dollars

49:37 The Eurodollar system will be replaced at some point

53:00 The shadow money system

55:00 Eurodollar system is a black hole

58:00 Digital currencies

1:01:37 What keeps Jeff up at night?