@barryknapp@gamesblazer06 Fair to say Fed drained US RRP? Upward STIR, repo rates, etc drain RRP by offering higher yld to MMF
(I think) draining Foreign RRP wud need CBs to actively choose bills/repo/etc over banking w the Fed.
Said different, foreign RRP might be stickier, leaving reserves at risk
@dampedspring@BobEUnlimited FWIW, “FinTwit voyeurs” enjoy the public discourse. Before, now, and in the future … kudos 👏🏾 . Though commenting negates the voyeur claim I guess 🤔
@BillAckman The dismissal of us encouraging NATO expansion destroys this persons credibility. And they had some good points too. Don’t get why that angle had to be included, it’s pretty obvious
@BickerinBrattle@crossbordercap You get a loan to buy a house:
Bank creates a loan on the asset side, and a deposit for you (asst & liab ⬆️)
The bank then sends the sellers bank reserves & drains created deposit (asst & liab ⬇️)
BS neutral for your bank; more reserves/deposits for system as a whole
Voila
@poiThePoi@NathanTankus To clarify: climate change is real. But I don’t think making everything more $$ now is the solution. Nuclear shud proliferate, wind/solar are pissing into a ocean in practice. Tech is also moving exponentially; we can’t time carbon capture or other solutions, but they will come.
@poiThePoi@NathanTankus Base metals have come off. There are also easier to access oil basins available ASAP under federal land.
Tapping those ahead of 2024 would upset the base. IMO it’s an optics thing, which is fine but it’ll be recurring if we’re serious abt pushing this climate apocalypse thing
@GeorgeSelgin 2/ *I think* that could alleviate upward pressures on the Fed Balance Sheet by significantly increasing the velocity of money, assuming the Monetarist Theory is still a thing. Just curious on your thots. Thanks!
@GeorgeSelgin Big fan of your work & appreciate candid thots on BTC specifically. Lorie Logan recently cited “friction for reserves” has a hindrance. Given CBDCs not happening here, do you see reserves moving to faster settlement via blockchain technology? 1/
@nsantini99@RaoulGMI@RealVision FWIW - I trade housing, just bought a house last year, and I have zero concerns. Raoul & others harp on demographics, and demographics is usually an eye roll. Not here. Boomers aren’t moving, and millenials need homes for babies.
No comment on equities.
@Darky999@PeterMcCormack Come back! Weirdly checked to see if you had anything new earlier in the day. The Raoul pod was super helpful on the mental side. 2yrs orange pilled, not leavin’ / still stackin’
@RangerHondo@gamesblazer06 Interested on @gamesblazer06 thots ... a lot coming to a head as ZLB approaches. Lacy/Steve Major/@RaoulGMI trade is a heavy weight on ylds. Unless we see REAL fiscal stim ($5-10trn ?), don't think we're escaping the blackhole. And YCC needs da stim, no point unless it comes