81.1 Introducing a NEW Measure of Shadow Money Pt. 1
———Ep 81.1 Summary———
A new measure of the monetary order will be unveiled at the end of this two-part episode. But first, a discussion of uncertainty, incomplete pictures, relativity, perspective and the limits of human knowledge. Also, bank reserves and repurchase agreements.
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———Ep 81.1 Topics———
00:00 A new measure of the monetary order will be unveiled at the end of a two-part episode
01:00 Who were Niels Bohr and Werner Heisenberg?
02:51 What does uncertainty have to do with life? Is reality what we perceive or something else?
06:05 Economics, like the natural world, is so complex that it is beyond perceiving reality.
08:02 Bank reserves – simple enough, in isolation, which they are not, so not simple at all
09:29 Repurchase Agreements – how does a bank pay for an asset? Does it want to own the asset?
17:35 A buyer of an asset can source the cash several ways: shorting, swapping, anticipating
20:19 A buyer of an asset can source the cash via the repo market.
———Ep 81.2 References———
The First Part of the Quantum of Money: QE, Repo, and…Niels Bohr: https://bit.ly/3fRdITU
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, reality is advantageous.