All-Stars #62 Prof. Steve Keen: Why repo blew up last week and what it means

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 25 September 2019

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

All-Star Prof. Steve Keen is back with his perspective on last week’s repo market dislocation. Spoiler: this was NOT because the fiat system is collapsing, as some crypto die-hards have suggested Link: http://bit.ly/2mzL5BN

Transcript

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0:00.0	This is a special edition of Macrovoises with hedge fund manager Eric Townsend.
0:14.2	The premier financial podcast targeting professional finance, high net worth individuals, family
0:19.8	offices, and other sophisticated investors.
0:23.0	Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.
0:29.9	Macrovoises All Stars episode 62 was recorded on September 23rd, 2019.
0:36.4	I'm Eric Townsend.
0:38.1	All Star Professor Steve Keane is back with us today, and this episode of Macrovoises All Stars
0:43.5	is brought to you by toptradersonplug.com, the only podcast dedicated to quant and rules
0:49.5	based investing.
0:51.1	And right now, they're offering Macrovoises listeners a free book called The Many Flavors
0:56.3	of Trend Following.
0:57.3	I'll tell you how to claim it at the end of this episode.
1:00.8	Steve the big news in the last week was a major dislocation in the repo market with repo
1:06.7	rates spiking briefly up to 10%.
1:10.2	What the heck is going on here?
1:12.1	It's something I don't follow on a day-by-day basis, Eric, as I'm still into the overall
1:17.3	Macro stuff rather than the mechanics of the Federal Reserve's attempts to set interest
1:22.8	rates.
1:23.8	It's been taken as a sort of a sign idea that the sky is falling by a lot of commentators.
1:31.2	The death of the currencies.
1:33.2	I think it was just that the Federal Reserve has been lazy for the last decade because
1:37.8	they've gone from a system called a corridor system where they try to control the roof
	...

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