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Home / Alhambra Investment Partners / Eurodollar University’s Making Sense; Episode 65; Part 1: Carter Bonds, Roosa Certificates, And Dollar Down Daze

Eurodollar University’s Making Sense; Episode 65; Part 1: Carter Bonds, Roosa Certificates, And Dollar Down Daze

Summary:
65.1 This is what caused the 1970s Dollar Devaluation———Part 1 Summary———US President Jimmy Carter told the nation that the US dollar’s devaluation “is clearly not warranted by the fundamental economic situation”. In fact, it was unreservedly deserved as the necessary consequence of prolonged official incompetence. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It———

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65.1 This is what caused the 1970s Dollar Devaluation

———Part 1 Summary———
US President Jimmy Carter told the nation that the US dollar’s devaluation “is clearly not warranted by the fundamental economic situation”. In fact, it was unreservedly deserved as the necessary consequence of prolonged official incompetence.

———See It———–

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

———Hear It———

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———Ep 65.1 Topics———

01:08 Unlike the 2010s, in the 1970s finding inflation was no problem – it was everywhere
02:44 The era’s inflation, the currency’s devaluation, was due to official incompetence
06:21 Robert Roosa, a US Treasury official, notes the CAPITAL account dominates the CURRENT
09:53 The Carter Bonds sought to help the Federal Reserve out of a foreign-exchange pickle.
11:56 What is the Exchange Stabilization Fund?
12:54 Triffin’s Paradox could be solved by a extra-national system.
14:47 What is Triffin’s Paradox?
16:52 Roosa said in 1963 that international capital flows were stressing currency stability
19:24 Roosa Bonds were 1960s certificates to foreign central banks to relieve Fx instability.
23:08 In 1984 Roosa said the eurodollar system was beyond the control of the Federal Reserve.
26:28 In the 1980s scholarship and interest in the problem of the eurodollar system ceased.

———Ep 65.1 References———

History Isn’t On Your Side If You’re Looking for Inflation: https://bit.ly/3uW97EJ
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7


Jeffrey P. Snider
As Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheads the investment research efforts while providing close contact to Alhambra’s client base. His company is a global investment adviser, hence potential Swiss clients should not hesitate to contact AIP

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