American Monetary Association 430: The Hidden Monetary System Running The World - Jeff Snider, Eurodollar University
Jason Hartman interviews Jeff Snider, Chief Investment Strategist and Head of Global Research at Alhambra Investment Partners. Consumer prices and asset markets have created the illusion of a red hot economy, but according to Jeff, the bond market has been telling us what's been wrong since 2008. Jeff shares with us some incredible data that shakes up traditional thinking and gives us his insights on the Federal Reserve, interest rate hikes, monetary policy and money printing and the correlation between the yield curve and treasury markets.
Jeff also gives an in depth explanation of the hidden monetary system running the world. Even though most people have probably never heard the term Eurodollar, it has undertaken the functions of the global reserve currency and it did so a very long time ago as an offshore currency market. The Eurodollar was developed on its own without government or individual private effort outside of every country's regulatory regime.
Key Takeaways:
0:45 Welcome Jeff Snider, head of Global Research for Alhambra Investments
1:28 What is the Eurodollar?
4:02 Reserve currency system
7:01 Significance of the Eurodollar
9:10 Influence of the Eurodollar on interest rates
10:08 The Treasury market actually sets most credit rates around the world
11:45 High rates and tightening - Alan Greenspan
13:45 Seeing what the Treasury yields are reflecting to understand what will happen next
16:09 Yield curve inversion
17:33 Alan Greenspan and “irrational exuberance”
20:45 You can’t keep track of money, so why bother trying?
21:40 Jeff Snider’s outlook on inflation
24:18 Milton Friedman’s interest rate fallacy
26:55 The Fed vs the Eurodollar system
28:39 Jerome Powell and the Fed interest rate hikes
31:27 Is consumer price inflation transitory?
32:29 What’s to come in this massively overheated real estate market?
34:26 The flattening of the yield curve says the Treasury market is resisting higher rates
36:18 Consumer prices and asset markets have created this illusion of a red hot economy
37:55 Today’s real estate market
39:48 The Gig Economy
41:52 Overreaction recession in 2020 did a lot of long term economic harm
44:52 Find Jeff Snider’s research on his blog at
Alhambrapartners.com and check out his Eurodollar University Podcast
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