Silver as an investment

Category Archives: Discount Window

The Fallacy Of Central Planning (Exposed By South Park’s Underpants Gnomes)

Submitted by Jeffrey Snider via Alhambra Investment Partners, In the seventeenth episode of the second season of the Comedy Central cartoon South Park, the show introduces one of its longest lasting memes that has survived despite the first airing being nearly twenty years ago, and all the vulgarity and seemingly gratuitous violence in between. Titled […]

This Is How Much Liquidity Deutsche Bank Has At This Moment, And What Happens Next

It is not solvency, or the lack of capital – a vague, synthetic, and usually quite arbitrary concept, determined by regulators – that kills a bank; it is – as Dick Fuld will tell anyone who bothers to listen – the loss of (access to) liquidity: cold, hard, fungible (something Jon Corzine knew all too […]

There Is An Alternative To Yellen’s Keynesian Bubble – Stockman Rages “Abolish The Fed”

Submitte dby David Stockman via Contra Corner blog, The approximate hour Janet Yellen spent wandering in circles and spewing double talk during her presser yesterday was time well spent. When the painful ordeal of her semi-coherent babbling was finally over, she had essentially proved that the Fed is attempting an impossible task. And better still, that the FOMC should be abolished. […]

The Case For A Super Glass-Steagall

Submited by David Stockman via Contra Corner blog, Donald Trump can instantly get to the left of Hillary with respect to Wall Street and the one percenters by embracing Super Glass-Steagall. The latter would cap U.S. banks at $180 billion in assets (<1% of GDP) if they wished to have access to the Fed’s discount window and have their […]

Will The Market Force Yellen Into ‘None-And-Done’?

The market has a way of getting what it wants. And right now, it surely does not want Yellen to hike this week. Will she nevertheless, as is widely expected? Or will the buoyant markets force yet another delay, ultimately resulting in a ‘none-and-done’? There’s no denying that the Fed policies fueled this stock bull […]

Why The Friedman/Bernanke Thesis About The Great Depression Was Dead Wrong

Submitted by David Stockman via Contra Corner blog, In explaining to the FT’s Martin Wolf why he bailed out the Wall Street gamblers at Goldman Sachs and Morgan Stanley while crushing millions of ordinary American savers and retirees, Bernanke typically repaired to his go to argument. It had nothing to do with the mild excesses of inventories and labor that […]

“The Bankers Have Gone Through This Before. They Know How It Ends, And It’s Not Pretty”

When even the commodity traders got caught in the crossfire of the energy rout – those supposedly smartest men (and women) in the room who were so smart, they not only never saw the commodity price crash nor did they hedge for any such possibility, leading to such snafus as both Glencore and Noble Group […]

BOE May Accept Stocks As Collateral

Way back in October of 2009, a little over one year after the collapse of Lehman froze money markets and nearly brought down the entire global financial system, we brought you a rare and fascinating look at what goes on at the Fed’s discount window when financial armageddon is playing out before everyone’s very eyes. […]

Dodd-Frank and the AIG Litigation: Implications for Investors

Greetings from Jackson Hole, where I am attending the 7th Annual Rocky Mountain Economic Summit.  Below is my latest research note from KBRA. Have received a number of interesting reactions from in and outside the Kremlin walls.  You can read the comment with footnotes on www.kbra.com.   Best, Chris Dodd-Frank and the AIG Litigation: Implications for […]