Ghost Money, the Eurodollar and Crypto

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

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--------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.