Offshore Shadow Money – the Latest News [Ep. 108a]

Offshore shadow money funds the global economy, but it lies in the shadows; it’s off-balance sheet and off-the-regulatory-radar. A good place to get a sense of offshore shadow money is the Treasury International Capital report. Jeff Snider serves as our guide through July’s data, and warnings.

—–SEE EPISODE 108——
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Emil YouTube:

—–HEAR EPISODE 100—-
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—-EP. 108a TOPICS——-
00:00 Show Intro: The offshore monetary system – when exactly did it go ‘off shore’ and why?
00:28 Right after the Fed came into existence efforts were made to work ‘outside the system’.
03:32 But money created ‘outside the system’ inevitably finds itself ‘on shore’.
06:45 During the 1950-70s monetary scholarship took place, until the Volker Myth stopped it.
09:27 Earlier monetary scholarship had no problem admitting inexplicability, limited knowledge.
10:23 Richard Debs, of the FRBNY, wrote in 1975 that the eurodollar market was undefinable.
13:10 Treasury International Capital in July shows the Caribbean node shrinking since March.
15:47 Treasury International Capital in July shows the Japan node shrinking since Nov. ’20.
18:09 US banks grew their global loans exponentially from the 1970s to 2008; and then stopped.
21:13 July TIC shows a second month in three where foreigners are net sellers of US bonds.
23:52 Chinese holdings of US Treasuries has dropped, yet the CNY is stable – a contradiction?
25:17 July TIC shows more selling of US debt securities than buying – a warning?
26:56 July TIC shows official institutions selling US Treasury securities – a concern?

—-EP. 108a REFERENCES—
Dollar Warning Update From The Islands Which Started It:
PracTICal Remainders and Reminders:
Alhambra Investments Blog:
RealClear Markets Essays:

———–WHO————-
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski.

———WHERE————-
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———–TAG————
#JeffSnider #TIC #OffShoreMoneyCenters #AgreementCorporations #EdgeActCorporations #CNYUSD

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