Eurodollar University

Mastercard is compelling adult content providers to know their customer... and their content. If not, access will be withheld to payment processing. But Mastercard is an oligopolist, its censorship a…

Medieval Europeans put animals on trial for various misdemeanors and felonies: murderous pigs sent to the gallows, sparrows prosecuted for chattering in church, a gang of thieving rats let off on a w…

There is a goods shortage on the store shelf, yes. But that does not mean there is a goods shortage - instead it is a warehousing and logistics problem. In fact, we may be facing a surplus of goods t…

The US Treasury bond market has been correctly anticipating inflation, disinflation, deflation as well as transitory, non-money-related increases in consumer prices for decades. Decades. Maybe we sho…

Federal Reserve economist Jeremy Rudd's paper savages the use of inflation expectations in monetary econometrics. He lambasts the profession for producing "minimal direct evidence" and the "next-to-n…

Time travel to the early 1970s where we hear the Nixon Tapes, read memorandums, and study Congressional testimony to understand what the Federal Reserve knew, and when they knew it. Turns out they di…

Arthur Schopenhauer, in the essay "The Wisdom of Life", favors individual strength of will and independent, reasoned deliberation over the tendency to act on irrational impulses. In the third chapter…

PART 01: The 'debate' in the US Congress about the debt 'ceiling' prevented the US Treasury Dept. from issuing UST Bills, the ultimate risk-free asset. This put serious stress on the Chinese currency…

Kratom is a legal stimulant but MasterCard and Visa refuse to process payments by kratom vendors. How do vendors work around this embargo? And should these two network oligopolies be allowed to decid…

Maroon Macro has become cautiously optimistic about Decentralized Finance's (DeFi) potential to disrupt the traditional financial system. DeFi is extraordinarily elegant in the way in which it reenab…

Beijing knows it wants to discontinue the country’s existing, unsustainable growth model. The latest "Common Prosperity" policy will only shift domestic demand at the margins; a full-fledged rebalanc…

We tend to talk about infrastructure in terms of spending amounts. But infrastructure in a monopoly-dominated economy is not just about money, it's about who governs - monopolists, or the public? A r…

AnalystDC looks back at how the US money market has evolved in 2021 so far by reviewing the Fed's balance sheet and considering where things could go from here for the Fed, large and small US banks a…

Dear Ladies and Gentlemen,

Typically the show notes are loaded with information about the show, reference material and acknowledgement of the people that helped make the show.  Unfortunately Episode 1…

Freedom, Truth, and Love: three creative principles distinguished by uninhibited exchange. Is it any coincidence that voluntary exchange is essential to all three? A reading, by Emil Kalinowski.

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Bank balance sheets are expanding in 2021, which is great news if you believe credit is modern money. But a closer look reveals banks are PILING into the SAFEST assets while beating a RETREAT from lo…

Money, a necessary evil seems to be best compliment one can pay it. Starr argues that money, in a world of constraints and choices, helps identify price. And for all the kind words written about "val…

Oil prices are intentionally offered as Inflation Exhibit A, even though at best it is a lagging indicator. In 2008, 2011 and 2018 we saw metal prices turn south while oil kept heading north; oil inc…

The Fed and Treasury have seen enough debt ceilings to develop a playbook that can be pieced together from past FOMC transcripts and Congressional subpoenas. A reading, by Emil Kalinowski.

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George Friedman observes that China is embarking on a difficult socioeconomic transition. Paradoxically, the transition will cause observers to underrate the country's strength, in much the same mann…