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Member Video #23: Collateral Practices
One of the more infamous episodes from the most infamous Wall Street firm: Solly’s folly. The firm flaunted Treasury auction practices, rules, and repeated demands. Called an “inept little scam” by the media at the time, the only accurate word in that description was last one. It was hardly inept and the cheating was widespread and the reason why illustrated everything about eurodollar maturity and its domination.
Member Video #22: Collateral Multiplier
This is a long one but a necessary examination and well worth the detail. After exposing the ‘dirty secret’ behind collateral reusing, this video takes the next step. Clocking in at nearly an hour, we’re going to go deeper into the shadow money system taking the collateral multiplier head on.
Member Video #21: Securities Lending
Earlier Classroom Videos have looked into collateral and how important it is to the eurodollar system, providing context and documenting key concepts. With the background out of the way, it’s finally time to go much farther, diving straight into the meat of the topic. Starting with how securities lending isn’t, um, lending.
Wicksell’s Depression Star, Part 3
The conclusion to the series. Depression Economics. Protracted Non-neutrality. Sure enough, Economists’ calculations for R-star are entire consistent with Ben Bernanke’s earlier scholarly work, Friedman’s interest rate fallacy, and, most of all, Wicksell’s Depression Star. The eurodollar factor is what links them all.
Wicksell’s Depression Star, Part 2
The S&L Crisis of the eighties had left thousands of fail banks in its wake. Yet, there was no Great Depression 2 following it. On the contrary, the period was marked by unparalleled global prosperity. To really understand and appreciate the difference, we turn to the basic fundamental economics of interest rates. And Ben Bernanke.
Wicksell’s Depression Star, Part 1
Hundreds of banks failing. Big ones, too. Deposit flight. Wall Street rescues. Fed emergency loans. The first bank holiday since the great depression. It’s not March 2023.