Macroeconomia Crisi finanziaria e sviluppi (1 Viewer)

stockuccio

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"BOOM!" (More Obfuscation)

"Someone" paid 7% for overnight money on the Fed Trading system last night (that "someone" was a bank, by the way.)
This will be claimed to be "ordinary" end of quarter distortions for closing the books.
Don't believe it for a second.
Let's put this in plain language: The discount window is open for any bank that has good collateral at less than 1/10th of that interest rate.
Therefore there is absolutely no reason for any institution to go into the Fed Funds market for overnight money at 7% unless they have no good collateral to post against itand thus cannot go to the window.
So who is it? No idea. And while the amount borrowed overnight at that rate may be tiny, that's not the point - the point is that the last time we saw anything that dramatic was just before it all went "boom" last year.
Yes, I'm sure that end-of-quarter had something to do with it. In fact, I'd be stunned if it did not.
However, as I noted, there's no reason for anyone to pay that if they have good collateral to post at the discount window, given that you can do so for 1/10th or less the price.
Keep your nose to the ground and your eyes open.
Someone (or more than one someone) is in trouble.


schermaglie zerohedge-goldman http://www.zerohedge.com/node/12118

commenti sui dati economici emersi non ne faccio .... non credo ci sia qualcuno felice
 
Gaudente

Gaudente

Forumer storico
stockuccio ha scritto:
in Svezia d'ora in poi per tenere i soldi da parte si paga http://globaleconomicanalysis.blogspot.com/2009/07/sweden-cuts-deposit-rate-to-negative-25.html
Clicca per allargare...

preso dai commenti all'articolo sopra linkato:

Bonds as the store of value: part 1

Most of us know by now that money is debt, but Why do we back our money with debt rather than a gold coin for example? Is there a good reason? I think there is.

Debt is actually a fantastic store of value in the right circumstances. To understand why we first need to understand where wealth (not money) comes from. Our wealth comes from two key sources - firstly social capital that has been accumulated in the form of knowledge and social structure over millenia. The second component is the surplus we generate at any given point - the excess energy and food generated over and above basic survival needs.

Surplus needs storage, and in ages past it went into the grain silo and what could not be easily stored was used to create a monument or something. Fast forward to the 21s century, and even in times of depression the
surplus we generate in advanced nations is so vast it cannot be stored. There is a limit to how much food
can be canned, and how much energy or raw fuel can be stored for future use. So we are faced with the
question of what to do with our surplus. Ideally we'd like to be able to save it in some meaningful way such
that the value of this surplus can somehow be preserved even as food rots and fuel reserves are maxed out.

The answer we came up with was debt.

Bonds as the store of value: part 2

If the surplus is not saved but spent sensibly such that the future surplus is likely to be larger in the future than it is now, we can give our surplus to one who can use it productively now, and in return we shall bond them to return to us the original quota of the surplus advanced plus interest. At this point, an agricultural and energy surplus that cannot be easily stored has been converted to a form that takes nothing
more than a contract to store.

This is the reason why all money is debt. To look at it another way, without an attached debt, a saving is meaningless. To see why, lets imagine that we have a 100% gold/silver coin economy, and we all choose to
save 15% of our income under our beds. From the surplus storage point of view, we are not saving anything, we are simply choosing to forgo consumption, which is not the same as saving since it does not come with a guarantee that our saving will even hold it's value into the future let alone be repaid with interest.

Obviously if we all save 15% of our income, all that happens is that the economy contracts by 15% and next
year the volume of goods and services is down by 15% and our stable gold money supply is not, so the value
of our gold coin depreciates by 15%. Hopefully this illustrates why a mere commodity is not a store of value in the absence of human activity to at least maintain and perhaps grow civilisation into the future.

Here is the paradox of saving - we can't all save at once! In order for joe to save, sally must borrow, since it is only by the continuation of human activity and investment for the future that joe's saving is
likely to hold value, let alone increase. This is the reason why governments are taking on debt as a result
of the recent private debt bubble - in order to allow households and businesses to repair their balance sheets by saving.

Insomma accumulate carta non barre di metallo :D
 

mostromarino

Guest
stockuccio ha scritto:
in Svezia d'ora in poi per tenere i soldi da parte si paga http://globaleconomicanalysis.blogspot.com/2009/07/sweden-cuts-deposit-rate-to-negative-25.html
Clicca per allargare...


sei giovane o ti piacciono le notizie ad effetto

in svizzera,dove i tassi sono stati per decenni vicini a zero

si è pagato per anni

ancora oggi ,qualsiasi cifra ,in divisa estera tu lasci sul conto e non "investi"

NON E`REMUNERATA
............

se si ha dimestichezza con le tesorerie delle banche a vista

si comprende meglio
 
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