Daily Archive: Wednesday, November 17, 2010
Fixing Ireland
ECB
Nov 17, 2010
So I’ve been asked what I’d do to get Ireland past this latest funding crisis. Answer: I’d announce that in the case of default new Irish govt debt is freely transferable and can be used for the payment of taxes to the Irish govt. This should facilitate funding for the near term.
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QE dynamics one more time- it’s about price, not quantity
Believe it or not I’m still getting a lot of questions about how QE works, so I’ve reorganized the discussion some: First, recognize that, in fact, reserves, functionally, are nothing more than 1 day t bills. And, for all practical purposes, the difference between issuing 1 day t bills and 3 month
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Beyond risk off
Commodities, Deficit, Employment, Government Spending
Nov 17, 2010
So it was buy the rumor, buy the news, then watch it all fall apart a few days later. QE was a major international event, with the word being that the ‘money printing’ would not only take down the dollar, but also spread ‘liquidity’ to the rest of the world through the
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