98.3 Lightning Round: AUD CNY Au/Ag RRP ECB NG1 BoE and QE! ———Ep 98.3 Summary———Lightning round review of the: Australian dollar, Chinese yuan, gold-silver ratio, Federal Reserve’s reverse repo program, European Central Bank’s symmetric inflation target and natural gas. Also, the House of Lords questions the Bank of England’s use of QE. ———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———
Jeffrey P. Snider considers the following as important: Alhambra Research, bonds, commodities, currencies, Economy, Eurodollar University, Federal Reserve/Monetary Policy, Making Sense, markets, Stocks
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98.3 Lightning Round: AUD CNY Au/Ag RRP ECB NG1 BoE and QE!
———Ep 98.3 Summary———
Lightning round review of the: Australian dollar, Chinese yuan, gold-silver ratio, Federal Reserve’s reverse repo program, European Central Bank’s symmetric inflation target and natural gas. Also, the House of Lords questions the Bank of England’s use of QE.
———Ep 98.3 Topics———
00:00 Intro: A potpourri review of the AUD, CNY, Au/Ag, RRP, ECB, NG1, BoE and QE.
00:28 The Australian dollar and Chinese yuan tracked each other until June 16-18. A warning?
02:45 The gold-silver ratio bottomed on February 25, signaling an end to reflation / inflation.
05:46 Why did the AUD-USD and USD-CNY diverge in June? It coincides with the Fed’s RRP.
06:03 The European Central Bank wants to achieve a “symmetric” 2% inflation target. Pfft, ok.
10:21 There’s a difference between supply-demand price spikes and monetary/fiscal inflation.
15:01 The House of Lords reviewed the Bank of England’s use of QE and found it wanting.
18:23 A few choice quotes from the House of Lords about the BOE and its use of QE.
20:55 Outro: QE continues to disappoint and is a waste of time and socio-economic cost.
———Ep 98.3 References———
China, Australia, and The European Way Into Reverse Repo: https://bit.ly/2WYpuFr
ECB: The new monetary policy strategy: implications for rate forward guidance: https://bit.ly/3h2hlXm
Finally, QuEstioning ‘Easy Money’: https://bit.ly/3h2hlXm
Quantitative easing: a dangerous addiction?: https://bit.ly/3tmCUa7
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the pen of the people, David Parkins. Podcast intro/outro is “UntrainedEye” by _91nova from Epidemic Sound.