Shows / Eurodollar University
Eurodollar University
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.
Episodes
Eurodollar UniversityInterview with Macro Alf: Is it Time to Buy Bonds? [Eurodollar University, Ep. 253]
How does a former bank trader with billions of euros in assets react to an impending recession? Is the inflection in bond yields (back down) and prices (back…
Eurodollar UniversityGuest Appearance: ReSolve Asset Management & Jeff Snider [Ep. 252, Eurodollar University]
Jeff Snider explains how the global currency and monetary systems actually work, the origins of the Eurodollar system, Triffin’s Paradox and the breakdown of…
Eurodollar UniversityEurodollar Futures Contemptuously Reject Fed Hike [Eurodollar University, Ep. 251]
One day prior to the Federal Reserve raising its policy rate by a *bananas* big 75-basis point the Eurodollar Futures market moved its yield curve inversion…
Eurodollar UniversityReaction Show: Jay Powell Press Conference 75bps Hike [Eurodollar University, Ep. 250]
The pinnacle of investigative, introspective financial journalism assembled in front of the Federal Reserve chairman on June 15, 2022 and asked him…
Eurodollar UniversityReaction Show: Jay Powell Opening Statement 75bps Hike [Eurodollar University, Ep. 249]
Jeff Snider reacts live to Jay Powell's June 15, 2022 opening statement to assembled members of the press regarding the Federal Reserve's 75-basis point rate…
Eurodollar UniversityCrash of 1907 - Lessons for Today [Eurodollar University, Ep. 248]
The Crash of 1907 'convinced' Washington DC that a central bank was needed. Or, perhaps more likely, the Crash of 1907 was used as an excuse for a national…
Eurodollar UniversityThe Myth of Paul Volcker: Part 2 [Eurodollar University, Ep. 247]
We are told that Paul Volcker led the Federal Reserve into the breech and bravely and knowingly raised short-term interest rates so as to bring about a…
Eurodollar University8.6% CPI is Neither Inflation, Nor the US Economy [Eurodollar University, Ep. 246]
US consumer prices rose 8.6% year-over-year for the month of May 2022, says the US Bureau of Labor Statistics. Economists, financial media and central banks…
Eurodollar UniversityStudents Destroy International Competition with Eurodollar Knowledge [Eurodollar University, Ep. 245]
Pine-Richland High School won a 120+ team international competition debating whether the dollar's hegemony is detrimental. Pine-Richland won due to their…
Eurodollar UniversityJoe Biden's Economic Plan Editorial in the WSJ [Eurodollar University, Ep. 244]
US President Joe Biden has a three-step plan to address the vulnerable US economy. We agree the economy is vulnerable but note that it is not for the reasons…
Eurodollar UniversityFed's Reverse Repurchase Agreements Hits $2 Trillion [Eurodollar University, Ep. 243]
Two short-term money markets are yielding LESS THAN the Federal Reserve's RISK FREE reverse repurchase agreement program. Despite the Fed offering now $2…
Eurodollar UniversitySmoke on the Horizon: Eurodollar's Economic Warning [Eurodollar University, Ep. 242]
The Eurodollar Futures yield curve inverted on December 1, 2021 warning that somewhere over the horizon there was trouble. In March 2022 the US Treasury curve…
Eurodollar UniversityToo Much Inventory Flooding Retailers, Wholesalers [Eurodollar University, Ep. 241]
According to the US Census Bureau both retailers and wholesalers reported *bananas-crazy* increases in inventory levels. As the US economy tips over into a…
Eurodollar UniversityTarget, Walmart Warn Consumers Are Backing Off [Eurodollar University, Ep. 240]
Target, Walmart, Japanese merchandise exports, German retail sales, and the early-morning hours of US Treasury Bill trading are all sending the same message…
Eurodollar UniversityBanks Scared to Make Money (and that's bad for us!) [Eurodollar University, Ep. 239]
A generation ago banks knew that there was money to be made and they acted upon that faith, creating money for the world economy to enrich itself. But ever…
Eurodollar UniversityFed is Hiking when it should be Cutting [Eurodollar University, Ep. 238]
The Federal Reserve is hiking rates as part of political theater in response to pressure from the legislative and executive branches of the US government. 'Do…
Eurodollar UniversityMarket Rates Refusing to Follow Fed's Command [Eurodollar University, Ep. 237]
The Federal Reserve, we are told, controls interest rates. We have learned over and over that is not true with long-term rates (e.g. yield curve inversion…
Eurodollar University(Nominal) Retail Sales Awesome! (Real) Sales Awful! [Eurodollar University, Ep. 236]
Retail sales - a temperature check on the American consumer - were absolutely fabulous in April 2022; glory, hallelujah! So then why are three different…
Eurodollar UniversityChina Economy: Zero Covid or Zero Money? [Eurodollar University, Ep. 235]
The Chinese reported how their economy has fared in the month of April 2022 - the results were very, very poor. It is tempting to say the illness is Beijing's…
Eurodollar UniversityUSD Rise Not Due to Fed; EUR Fall Not Due to ECB [Eurodollar University, Ep. 234]
The Federal Reserve is hiking interest rates while the European Central Bank is in no rush to raise its policy rates. The Economics Textbook and Financial…
Eurodollar UniversityTreasury Bills Warning of Collateral Scarcity [Eurodollar University, Ep. 233]
US Treasury Bills are trading below the 'floor' set by the Federal Reserve. Why? Why guarantee less return with Treasury Bills when the Fed is promising more?!…
Eurodollar UniversityA Money ILLUSION Shows Japan is Booming [Eurodollar University, Ep. 232]
In 1928 American economist Irving Fischer published a book titled "The Money Illusion" in which he explained the difference between nominal numbers (Japan's…
Eurodollar UniversityChina Stimulus! (I Do Not Think It Means What You Think It Means) [Eurodollar University, Ep. 231]
President Xi Jingping has, according to Western financial media, announced an 'all out' infrastructure spending spree stimulus to goose the Chinese economy…
Eurodollar UniversityCommodity-Based Money (Gold, Oil) is Undesirable [Eurodollar University, Ep. 230]
The public utility of commodity-based money was in retreat long before President Roosevelt confiscated gold. That has implications as to whether the 1970s…
Eurodollar UniversityInterview: Nick Black & Algorithmic Stablecoins [Eurodollar University, Ep. 229]
Nicholas Black, professional raconteur of crypto and gentleman broadcaster, explains what stablecoins are while Jeff Snider, student of the global monetary…
Eurodollar UniversityIMF Downgrades Global Economy (Again) [Eurodollar University, Ep. 228]
The International Monetary Fund has downgraded the global economy with its latest World Economic Outlook. This is no surprise to those who have been following…
Eurodollar UniversityChina's Currency is Crashing [Eurodollar University, Ep. 227]
The Chinese currency is an important indicator of global financial conditions. When it is appreciating we can presume conditions are benign. When it is…
Eurodollar UniversityJeff Snider Answers Your Questions, Eurodollar FAQs [Eurodollar University, Ep. 226]
Jeff Snider 'takes calls' from listeners across the globe. Your hottest requests! Playing the hits! Only on WFED 89.7 FM, The Reserve! Also, do callers play…
Eurodollar UniversityGlobal Dollar Shortage #5 has Begun [Eurodollar University, Ep. 225]
Since August 9, 2007 the global economy has been rocked by four world or regional dollar / money / credit shortages (2007-09, 2011-12, 2014-16, 2018-20). It is…
Eurodollar UniversityInterview with Macro Alf on Banks, Collateral [Eurodollar University, Ep. 224]
An insider's view of financial collateral, regulations, bond markets, bank reserves, central banks, quantitative easing and more! Alfonso "Macro Alf"…
Eurodollar UniversityMonetary Warning: Repurchase Agreement Fails Spike [Eurodollar University, Ep. 223]
Primary Dealers are failing to deliver and failing to receive collateral used to secure short-term funding at levels last seen in March 2020; the…
Eurodollar UniversityFed's INABILITY to Inflate caused Oil Price Spike [Eurodollar University, Ep. 222]
The price of oil is very high, causing consumer prices to rise and it is because of the Federal Reserve. BUT NOT WHY YOU THINK! The Fed does not create…
Eurodollar UniversityThe Myth of Paul Volcker and the Powerful Fed [Eurodollar University, Ep. 221]
Paul Volcker is widely credited in ending the 1970s Great Inflation with stratospheric rate hikes, purposefully pushing the USA into recession. Balderdash!…
Eurodollar UniversityPlatinum, a good investment? [Pain Points & Capital Flows, Ep. 220]
Commodity prices are volatile. Supply is suspect and demand is dicey. So, what does the future hold for platinum? A review of the supply and demand…
Eurodollar UniversityWill the next Global Bank Crisis start in S. Korea? [Eurodollar University, Ep. 219]
The Economist worries that South Korea is mimicking 1980s' Japan—before the bust and lost decades; they may be right. The Bank for International Settlements'…
Eurodollar UniversityRECESSION WATCH: Oct. 2021 Debt Ceiling as Patient 0 [Eurodollar University, Ep. 218]
The US Treasury yield curve has inverted, a capital market klaxon warning that the US is on course for a recession. When did markets begin to move towards…
Eurodollar UniversityWhy Zoltan Pozsar's Bretton Woods 3 is SO WRONG [Eurodollar University, Ep. 217]
Zoltan Pozsar says a commodity-based, China-led monetary order—Bretton Woods III—is upon us, resulting in the decline of the US dollar and escalating…
Eurodollar UniversityMichael Green: Nobody Wants Jeff Snider to Win! [Eurodollar University, Ep. 216]
Michael Green, professional gentleman of capital market structure, explains why US Treasury yields are rising, why options for Eurodollar future negative…
Eurodollar UniversityThere is No Such Thing as A Petrodollar [Eurodollar University, Ep. 215]
Petrodollar? There's no such thing. We didn't transition from a gold- to an oil-backed dollar. There was something else, another kind of dollar—hidden by a…
Eurodollar UniversityFed Worried about Inflation during GREAT DEPRESSION?! [Eurodollar University, Ep. 214]
In the middle (1937-38) of the Great Depression (1929-47) the Federal Reserve FREAKED out about accelerating consumer prices and the EXCESS supply of bank…
Eurodollar UniversityRECESSION WATCH: Income Stopped Growing in Oct. '21 [Eurodollar University, Ep. 213]
Americans' real personal income (excluding transfer receipts) stopped improving way back in October 2021. Would you believe that the US Treasury yield curve…
Eurodollar UniversityFed told Congress to Ignore Offshore Money Creation [Eurodollar University, Ep. 212]
In the 1960s the Bank for International Settlements investigated the offshore, shadow-money system and found it straightforward and to be ignored. In the 1970s…
Eurodollar UniversityThe 7s10s Treasury Spread is a Leading Indicator [Eurodollar University, Ep. 211]
The spread between the 7-year and 10-year US Treasury has been a leading indicator of US recession and/or global or regional capital liquidity shortages. We…
Eurodollar UniversityEpic Supply Shock Powers Inflation in US [Eurodollar University, Ep. 210]
A review of US 2021 Q4 GDP helps explain how surging demand, in concert with mauled logistical supply chains, caused blowout consumer price levels. Also…
Eurodollar UniversityUSA Moved Toward Recession in October 2021 - Why? [Eurodollar University, Ep. 209]
The US Treasury yield and Eurodollar futures curves are inverted, strongly suggesting US recession and/or global monetary disorder lies ahead. This did not…
Eurodollar UniversityAlgorithmic Stablecoins - a New Monetary Order? [Eurodollar University, Ep. 208]
Algorithmic stablecoins may be the solution to our 15-year monetary malfunction. We consider where and if stablecoins fit into money creation, intermediation…
Eurodollar UniversityTreasury Bills Trading Below Fed's RRP 'Floor' [Eurodollar University, Ep. 207]
The Federal Reserve's rate hike increased the reverse repo program rate, the so-called rate "floor". But why then are the 4- and 8-week US Treasury Bills…
Eurodollar UniversityTreasury Curve Inversion Expands [Eurodollar University, Ep. 206]
The US Treasury yield curve inversion is EXPANDING. It has now subsumed the 3-year note under a tide of negative economic expectations. This is the monetary…
Eurodollar UniversityCurve Inversion Warning Confirmed by TriParty Repo Collateral [Eurodollar University, Ep. 205]
The US Treasury yield curve has inverted, strongly implying economic weakness and likely US recession. But can we identify purely monetary (i.e. non-economic)…
Eurodollar UniversityCurve Inversion Confirmed by Fed's US Treasury Lending [Eurodollar University, Ep. 204]
The US Treasury yield curve has inverted, likely because the US economy is weak sauce. But what if we focused solely on shadow-money variables? Can we confirm…
Eurodollar UniversityTreasury Curve Inverts - Recession Countdown Begins [Eurodollar University, Ep. 203]
The US Treasury curve has inverted. The countdown to the next American recession has begun. We review what happened, where the inversion is in the yield curve…
Eurodollar UniversityBond, Money Markets Warnings [Eurodollar University, Ep. 202]
An update on the US Treasury yield and Eurodollar futures curve shapes. Distorted? Contemplative? Grotesque? Retching cat chart pattern? ----EP. 202…
Eurodollar University1940s were CPI Spike; 1960s were Inflation; What About 2020s? [Eurodollar University, Ep. 201]
The 1940s witnessed monstrous increases in consumer prices. But it wasn't inflation. In the 1960s? Smaller increases, but it was inflation. What's the…
Eurodollar UniversityYellen Says Fed Ops can just be Psych Pop [Eurodollar University, Ep. 200]
You won't believe it but Janet Yellen said in 2013 that narrative supply - not money supply - can be an effective tool. Turns out most Fed action is just…
Eurodollar UniversityRepo Fail Swarms Are Back - Shadow Money Warning [Eurodollar University, Ep. 199]
Repurchase agreements are short-term collateralized loans made amongst banks. What happens when one party refuses to return the collateral? It's a "fail". They…
Eurodollar UniversityWest tells Russia "Nyet!" to SWIFT - Does it Matter? [Eurodollar University, Ep. 198]
Russia has been told they're out of SWIFT! Kind of. And not right away. And only some Russian banks, kind of. Does it matter? What is SWIFT? ----HEAR ALL…
Eurodollar UniversityIzabella Kaminska (former FT) Talks Financial Media [Eurodollar University, Ep. 197]
Former editor at the Financial Times (Alphaville!) has struck out on her own - why? Is it a commentary on the business press and/or mainstream media and what…
Eurodollar UniversityFedwire Break Takes Economic Recovery Down With It [Eurodollar University, Ep. 196]
On February 24, 2021 Fedwire broke down for several hours - it was the the feather that broke the economic recovery camel's back. Copper, gold, silver, the…
Eurodollar UniversityReserve Currency is Constrained, say Swap Spreads [Eurodollar University, Ep. 195]
A look at interest rate swap spreads relative to nominal US Treasury yields identifies constrained bank balance sheet capacity. Monetary measures like swap…
Eurodollar UniversityInterview with Macro Alf on Banks, Money & Macro [Eurodollar University, Ep. 194]
An insider's view of regulations, bond markets, bank reserves, central banks, quantitative easing, fancy wines, when it's inappropriate to drink cappuccinos…