Oh he’s fine, I just talk shit. I’m still trying to convince myself that I understand anything that comes out of the mouth of Jeff Snider.
Discussion
Should I know about Jeff Snider I don’t think I heard of him?
He does the Eurodollar University podcast. A daily I think, or rather frequently. From what I gather he’s a wiz on the Eurodollar but he also talks a lot of Macro and central bank policy.
This is perfect timing. I’ve never thought about the Eurodollar until I found out M3 stopped being tracked in part because of the inability to control the Eurodollar. Will check him out thank you!
Yeah I didn’t even know what the hell the Eurodollar was until a few years ago. I mean if someone asked me my guess would have turned out correct, but it can be complicated, or I sometimes find it so.
Parts of a draft post I am working on as to why m3 is most accurate and what it includes before tracking was discontinued:
Eurodollar Market Size
* Estimated Total Market: $14-16 trillion
* Untracked in Standard Inflation Calculations
* Potential Inflationary Contribution: 3-5% additional inflation annually
Repo Market Volume
* Daily Repo Market Transactions: $4-5 trillion
* Annual Equivalent: Approximately $1.4-1.8 quadrillion
* Potential Hidden Liquidity Impact: 2-4% additional inflation annually
Wild.
He and Lyn Alden had an in-person, friendly debate on whether QE was money printing at a bitcoin conference or something like that.