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Fed Launches Repo Facility To Provide Dollars To Foreign Central Bank

March 31, 2020

Fed Launches Repo Facility To Provide Dollars To Foreign Central Bank With US dealers no longer using the Fed’s repo facilities (this morning we had another “no bid” overnight repo with just $250MM in MBS submitted for a $500 billion op) as the Fed soaks up all securities via its aggressive QE which is still […]

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Iran Bans Use Of US Dollars In Trade

March 1, 2018

Iran Bans Use Of US Dollars In Trade In what may be a preemptive move against further US sanctions, Tehran announced that going forward, merchant purchase orders that are denominated in US Dollars would no longer be allowed to go through import procedures. According to the state-owned IRNA news agency, the policy is in line […]

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Venezuela Will Back Its Cryptocurrency With 5 Billion Barrels Of Oil, Gold Deposits

December 28, 2017

Venezuela Will Back Its Cryptocurrency With 5 Billion Barrels Of Oil, Gold Deposits Four months ago, in a not entirely surprising move meant to circumvent US economic sanctions on Venezuela, president Nicolas Maduro announced that his nation would stop accepting dollars  as payment for oil imports, followed just days later by the announcement that in […]

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“Unloading Dollar Assets Would Be Most Effective” – Chinese State Media Unveils Trade War ‘Countermeasures’

August 27, 2017

“Unloading Dollar Assets Would Be Most Effective” – Chinese State Media Unveils Trade War ‘Countermeasures’ After President Trump declared “economic war” with China, seemingly following Bannon’s strategy to maintain hegemony… “We’re at economic war with China,” he added. “It’s in all their literature. They’re not shy about saying what they’re doing. One of us is […]

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World GDP in current US dollars seems to have peaked; this is a problem

August 15, 2017

World GDP in current US dollars seems to have peaked; this is a problem World GDP in current US dollars is in some sense the simplest world GDP calculation that a person might make. It is calculated by taking the GDP for each year for each country in the local currency (for example, yen) and converting […]

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Whatever It Takes?

February 19, 2016

WHATEVER IT TAKES? In the midst of all the recent uproar, one anonymous Twitterer seized his chance to have his Uber-Warholian, 140-characters-of-fame moment and thundered: ‘Central banks are losing control of this market!’ no doubt eliciting whatever the social media equivalent of a cry of ‘Hear! Hear!’ and an approbatory nodding of the head might be from […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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