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ReSolve Riffs with Jeff Snider & Emil Kalinowski of Eurodollar University on Inflationary Market Signals
Episode 13121st June 2022 • Resolve Riffs Investment Podcast • ReSolve Asset Management
00:00:00 01:29:07

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This week we had the pleasure of welcoming Jeff Snider (Head of Global Investment Research at Alhambra Investments) and Emil Kalinowski (enterprising investor, author and host of both a talk radio show and a podcast). Together, they co-host Eurodollar University podcast and shed light on the complexities of the global monetary system. Our conversation included:

  • Back to basics – how the global currency and monetary systems actually work
  • The origins of the Eurodollar system
  • Triffin’s Paradox and the breakdown of the Bretton Woods System
  • Interest rate targeting as a form of mass psychosis for capital markets
  • How banking reserves interact with the Eurodollar system
  • Different types of money – commodity-backed, high-powered and credit
  • Treasuries as the main form of balance sheet ballast for private investors
  • A different take on the Great Financial Crisis – a stampede towards prime collateral at all costs
  • Why central banks would compete to buy assets that are already scarce and in high demand
  • The true impacts of quantitative easing and why it’s ineffective in reducing interest rates
  • The importance of sentiment and why the main role of central banks is theatrical
  • Lacking the tools to unclog the system
  • How even China got caught in the ‘Eurodollar System Vortex’
  • Vast swathes of the real economy have been deprived of credit since 2008
  • REPO markets, unwilling primary dealers and backwards elasticity
  • Rehypothecation of collateral and other fundamental problems
  • Creation and intermediation of money should be done by separate institutions
  • And much more

This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.

 

*ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.

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