Jeff Snider shares Amazing Insights on Deflation/Inflation, Money Printing, Free Market vs. Socialism, and Yield Curve Control
It gives me a great deal of pleasure to welcome someone back to the Rebel Capitalist Show! He is one of my favorite individuals to interview. He needs no introduction whatsoever. His name is Jeff Snider!
Jeff Snider is the Head of Global Research at Alhambra Partners. They have a podcast that you can check on YouTube or iTunes which is called Making Sense Eurodollar University.
Jeff has a very interesting insight going back in the 1940s about the Yield Curve Control. According to Jeff, even there was inflation back then, it is really not permanent.
I also ask Jeff about the chart of the Fed's Treasury Purchases recently relative to the rest of the world.
“If the Fed wasn't buying these Treasuries, would the Yield spike? If not, why?”
When I saw that chart what I have in mind is the Fed is creating that excess demand. Therefore increasing the price and lowering the Yield.
Jeff adds the Yield is lower than it was before. The Fed isn't the independent variable in this equation. It's the demand of the Treasuries outside of the Fed.
I ask Jeff, “How much is enough for the Fed? Do we need up to 10 trillion before there are enough excess bank reserves?”
He says the Fed learned nothing from the Japanese example. The Japanese have gone through this exercise for the last 20 years. Their usual question was, “What's the right amount of bank reserves that will fix our problem?”
The right answer is no amount of bank reserves will fix the problem. Because the bank reserves are not the problem!
Watch the video above for the complete interview.
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