The Economist recounts how the pandemic led to a goods-consumption-boom and whether post-pandemic economics means normalization, or a services boom or a recession.

—-EP. 261 REFERENCES—-
Could a shift from goods to services ease inflation?: https://econ.st/3OYNOwQ
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean:

The Economist admits to, warns of and draws attention to Britain’s 15-year economic depression, labeling it a "slow-burning crisis", "long-standing", "stagnation nation" and "a chronic disease". There are many devastating socioeconomic, geopolitical consequences. It’s not just Britain, it’s the world.

—-EP. 260 REFERENCES—-
Low economic growth is a slow-burning crisis for Britain: https://econ.st/3nObojJ
Britain’s productivity problem is long-standing and getting worse: https://econ.st/3NVpvOM
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn:

The US labor market offers both optimistic and pessimistic data points regarding the economic outlook. Does the value of the US dollar break the tie? How do sovereign bond yields in Europe fit into the picture?

—-EP. 259 REFERENCES—-
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf
Jeff Snider: https://www.eurodollar.university/
Steve Van Metre: http://www.portfolioshield.net/

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora:

MacroVoices Erik Townsend and Patrick Ceresna welcome Jeff Snider to the show. Jeff says that monetary inflation is NOT the cause of out-of-control consumer prices, and he doesn’t see stagflation as a big risk. They discuss all of that and much more in this week’s feature interview.

00:00:00 Intro
00:17:43 Feature Interview with Jeff Snider
01:08:17 Postgame – Summer Doldrums?

Download Jeff’s Charts 📈📉 https://bit.ly/3c1vHrD

Download Big Picture Trading Chartbook 📈📉 https://bit.ly/3NQoN5u
✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/2JjZR7J

Jeff Snider is Chief Strategist for Atlas Financial and co-host of the popular Eurodollar University podcast. Jeff is one of the foremost experts on the global monetary system, and specifically the Eurodollar reserve

On the eve of one of the most consequential Jobs Fridays maybe ever, Jeffrey Snider says markets reflect an ongoing struggle between central bankers and investors. The former believe they must continue on their rate-hiking path. The latter, particularly bond investors, are showing far greater concern about economic growth. Snider, the chief strategist for Atlas Financial and the co-host of the popular Eurodollar University podcast, notes that multiple indicators, including eurodollar futures, suggest the Federal Reserve has it all wrong. Recent data show global macro deterioration; combine that with tightening liquidity conditions, and, Jeff notes, we have an equation for rising deflation. Jeff joins Real Vision’s Andreas Steno Larsen to talk about investors, central bankers, and their

Steven Van Metre and Jeff Snider have partnered together to bring financial information, investment advice and monetary education to the public. Watch the this YouTube LIVE! stream to learn more.

CONTACTS:
Jeff Snider: https://www.eurodollar.university/
Steve Van Metre: http://www.portfolioshield.net/

DISCLOSURES:
Jeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter’s

Jason Hartman interviews Jeff Snider, Chief Investment Strategist and Head of Global Research at Alhambra Investment Partners. Consumer prices and asset markets have created the illusion of a red hot economy, but according to Jeff, the bond market has been telling us what’s been wrong since 2008. Jeff shares with us some incredible data that shakes up traditional thinking and gives us his insights on the Federal Reserve, interest rate hikes, monetary policy and money printing and the correlation between the yield curve and treasury markets.

Jeff also gives an in depth explanation of the hidden monetary system running the world. Even though most people have probably never heard the term Eurodollar, it has undertaken the functions of the global reserve currency and it did so a very long

The Federal Reserve Bank of New York is forecasting the median result of its model predicts negative output growth in 2022 and 2023.

—-EP. 257 REFERENCES—-
Sorry Chairman Powell, Even FRBNY Now Has To Forecast Serious and Seriously Rising Recession Risk: https://bit.ly/39Syy5p
The New York Fed DSGE Model Forecast—June 2022: https://nyfed.org/3OmvQUP
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason:

A comprehensive report by the Federal Reserve – the Financial Accounts of the US – reveals that there has been no material change in rate of money creation. Not in the US (on par with an incrementally increasing but still PATHETIC 2007-21 trend), not in the rest of the world (equal to 2007-21 garbage rates).

—-EP. 256 REFERENCES—-
The Everything Data’s (Z1) Verdict: Not Inflation, Only More Of The Same: https://bit.ly/3QOKllW
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro:

Japanese and German trade data suggest the world is suffering through a price illusion: trade value is up because prices are up but actual trade by volume / trade by weight is falling (at least in Germany and Japan). Also, commodity prices suggest global slowdown/recession is approaching.

—-EP. 255 REFERENCES—-
Everything Hitting The Global (eurodollar) Wall: https://bit.ly/3QPvlE3
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google:

The latest purchasing manager surveys (services, manufacturing, composite) and manufacturing index (Kansas City Fed) suggest the United States is heading towards a recession, soon (maybe already?).

—-EP. 254 REFERENCES—-
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox: https://bit.ly/3fJR5xQ
Podbean:

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 up) starting right now? Did the European Central Bank just warn of a re-run of the 2011-12 European Sovereign Debt Crisis?

—-EP. 253 REFERENCES—-
Alfonso Peccatiello’s Substack: https://TheMacroCompass.substack.com/
Alfonso Peccatiello’s Twitter: https://twitter.com/MacroAlf
Time To Buy Bonds?: https://bit.ly/3QNP7zP

Jeff’s Twitter: https://twitter.com/JeffSnider_AIP
Emil’s Twitter: https://twitter.com/EmilKalinowski

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z

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 the Bretton Woods System, the stampede towards prime collateral at all costs, the importance of sentiment and why the main role of central banks is theatrical, how vast swathes of the real economy have been deprived of credit since 2008, and a possible solution: creation and intermediation of money should be done by separate institutions.

——Find ReSolve Asset Management——-
ReSolve Website: https://investresolve.com/
ReSolve Twitter: https://twitter.com/InvestReSolve
ReSolve YouTube: https://www.youtube.com/channel/UCzeWmoM-WPVd2rNPe_7uBwg/

Adam Butler: https://twitter.com/GestaltU
Richard Laterman:

Member video https://bitcoinandmarkets.com/e244-video/

Full show notes https://bitcoinandmarkets.com/e244/

As listeners to this podcast know, I’ve been pretty well convinced of the Eurodollar system framework. Jeff Snider is the primary expert on this field today, and his popularity has started to spread rapidly.

Though Jeff is an expert in the current system, his critique of bitcoin leaves room for improvement. In this episode, I breakdown part of a recent podcast he was on where he tried to summarize his opposition to a bitcoin-based system as a replacement for our current credit-based system.

Here is the original video. The interesting bit starts around the 54:00 mark. https://youtu.be/fFJK9HwSJ94?t=3295

What I, Max Sirius, think the Powers That Be or Deep State (which includes the Federal Reserve, the Biden Administration) or whatever you want to call it or them, want and will do now. Very big picture view. In order to save the global economic system, which is still more or less controlled by the United States, has the United States Dollar as its reserve currency, and which many of the United States based but globally acting mega corporations operate in and profit from (many big United States corporations generate more of their revenues outside the United States today than inside the United States), the United States Dollar cannot become too strong. Because it becomes a wrecking ball for the global debt and funding markets (the so-called Eurodollar system), which has lots of its debts

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 into the next four quarters. As fast as the Fed is hiking, the market is betting it will ‘imminently-ish’ be cutting. Market contempt!

—-EP. 251 REFERENCES—-
More Data And Markets To The Idea Something (big) Changed A Couple Months Ago: https://alhambrapartners.com/2022/06/14/more-data-and-markets-to-the-idea-something-big-changed-a-couple-months-ago/
Update The Conflict of Interest Rate(s): https://alhambrapartners.com/2022/06/10/update-the-conflict-of-interest-rates/
Globally Synchronized Last October, Not Some Far-Distant Future Risk:

This week we had the pleasure of welcoming Jeff Snider (Head of Global Investment Research at Alhambra Investments) and Emil Kalinowski (enterprising investor, author and host of both a talk radio show and a podcast). Together, they co-host Eurodollar University podcast and shed light on the complexities of the global monetary system. Our conversation included:

– Back to basics – how the global currency and monetary systems actually work
– The origins of the Eurodollar system
– Triffin’s Paradox and the breakdown of the Bretton Woods System
– Interest rate targeting as a form of mass psychosis for capital markets
– How banking reserves interact with the Eurodollar system
– Different types of money – commodity-backed, high-powered and credit
– Treasuries as the main form of balance sheet

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 hike to the Federal Funds target range: the overarching message, overall economic activity, inflation, labor, and the 3/4-point move.

—-EP. 249 REFERENCES—-
Transcript of Chair Powell’s Press Conference June 15, 2022: https://bit.ly/3bbk40N
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google:

On today’s episode I sit down with Jeff Snider. Jeff is the Head of Global Research at Alhambra Investments. He’s developed a working model for the global monetary system that is unlike anything else I’ve seen to date. The general thesis is that the Eurodollar system is working behind the scenes to soak up dollar liquidity, which results in a global dollar shortage. A lot of what you’ll hear today flies in the face of other narratives we discuss on this show, which is why I was excited to present it. It’s always fun and healthy to find new frameworks that stress test your own. 
 
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 – Intro
00:00:55 – What the Eurodollar is exactly
00:05:44 – What the Petrodollar is and why Jeff thinks it’s illusory
00:14:04 – How the global monetary system actually

On today’s episode I sit down with Jeff Snider. Jeff is the Head of Global Research at Alhambra Investments. He’s developed a working model for the global monetary system that is unlike anything else I’ve seen to date. The general thesis is that the Eurodollar system is working behind the scenes to soak up dollar liquidity, which results in a global dollar shortage. A lot of what you’ll hear today flies in the face of other narratives we discuss on this show, which is why I was excited to present it. It’s always fun and healthy to find new frameworks that stress test your own. 
 
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 – Intro
00:00:55 – What the Eurodollar is exactly
00:05:44 – What the Petrodollar is and why Jeff thinks it’s illusory
00:14:04 – How the global monetary system actually

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 central bank.

—-EP. 248 REFERENCES—-
The Premium For Cash Is Presently Enormous: https://bit.ly/3xr0G7l
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Castbox:

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 recession and extinguish the 1970s Great Inflation. But according to Fed transcripts Volcker & Co. fell ass-backwards into recession.

—-EP. 247 REFERENCES—-
Monetary Policy Is All Talk All the Time, and Always Has Been: https://bit.ly/3xNg9A1
The Myth of Paul Volcker and the Powerful Fed [Eurodollar University, Ep. 221]: https://youtu.be/9XqHyZOLiEc
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer:

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 implicitly conflate this price expansion with money expansion (inflation) and economic expansion (booming) – that’s a mistake.

—-EP. 246 REFERENCES—-
CPIs Aren’t the Economy, and They’re Not Inflation: https://bit.ly/3MMn8NX
United States Inflation Rate: https://bit.ly/3MNJ3nY
No Pandemic. Not Rate Hikes. Doesn’t Matter Interest Rates. Just Globally Synchronized: https://bit.ly/3HqSqZK
“Inflation” Not Inflation, Through The Eyes of Inventory: https://bit.ly/3MKFX3Z
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE

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 the president believes. Also, we note similarities between President Xi Jingping’s 2017 messaging and Biden’s 2022 narrative.

—-EP. 244 REFERENCES—-
Joe Biden: My Plan for Fighting Inflation: https://on.wsj.com/3MpUAcT
President Phillips Emerges To Reassure On Growing Slowdown: https://bit.ly/3Nuslej
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI

In this Video we discuss… the obvious PONZI-nomics of Stablecoins. This was filmed a week prior to the Decimation of LUNA/UST and all of the Do Kwon carnage that has followed.

* This Video originally released on Emil Kalinowski & Jeff Snider’s "Making Sense" Youtube Channel which is the best in the business of Macroeconomics and Fed-speak. https://www.youtube.com/c/EmilKalinowski

News – Research – Prices – ICO’s –

Check us out on Money Map Press for Money Morning Live:
https://moneymorninglive.com/page/nick-black-replays

Socials:
Instagram: https://www.instagram.com/nicholasblack60/
Twitter: https://twitter.com/NicholasBlack60

MoneyMorning Live Summit 2020:
Talk #1 – “Portfolio Strategy”: https://youtu.be/rRLQNqpfFsI
Talk #2 – “NFTs & Infrastructure”:

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 something!’ A panoply of economic, monetary and financial accounts are screaming for looser monetary policy, not tighter.

—-EP. 238 REFERENCES—-
History Shows the Fed Would Be Cutting Rates by Now: https://bit.ly/3G2vCyF
Alhambra Investments Blog: https://bit.ly/3wh01G2
RealClear Markets Essays: https://bit.ly/38tL5a7
Epoch Times Columns: https://bit.ly/39ESkRf

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL
Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google:

Jason Hartman interviews Jeff Snider, Chief Investment Strategist and Head of Global Research at Alhambra Investment Partners. Consumer prices and asset markets have created the illusion of a red hot economy, but according to Jeff, the bond market has been telling us what’s been wrong since 2008. Jeff shares with us some incredible data that shakes up traditional thinking and gives us his insights on the Federal Reserve, interest rate hikes, monetary policy and money printing and the correlation between the yield curve and treasury markets.

Jeff also gives an in depth explanation of the hidden monetary system running the world. Even though most people have probably never heard the term Eurodollar, it has undertaken the functions of the global reserve currency and it did so a very long

Jeffrey Snider, Head of Global Research at Alhambra Investments. He is not an economist, which is probably why he’s been able to develop a working model of the global monetary system. His research is unique and informative in ways an economist would never consider.

He joins us to discuss his thoughts on inflation/deflation and our current economic state.

website:
https://alhambrapartners.com/author/jsnider/
https://www.realclearmarkets.com/authors/jeffrey_snider/

———————————————————–
Jalinski Advisory Group, listed in Forbes article "TOP FINANCIAL SECURITY PROFESSIONALS" published Oct 19, 2021 https://www.forbes.com/top-financial-security-professionals/#29e093cb483f

Jalinski Advisory Group ranked 23rd in the article. Please review the

Paul Buitink talks to Jeff Snider of Alhambra Investments. Jeff explains how Russia, despite the sanctions, is still using the eurodollar system to transact internationally, for example by using off-shore banks across the world and middle-men in China and India. Not being part of Swift is difficult but doesn’t stop them from using the eurodollar system. Jeff comments on the ruble exchange rate and how the threat of stopping gas or payments provide for mutually assured destruction between Russia and Europe. Jeff and Paul talk about freezing reserves and if gold can be a solution and also about Zoltan Pozsar’s Bretton Woods 3.

Follow Jeff here:

https://twitter.com/JeffSnider_AIP

Follow Paul here:

https://twitter.com/paulbuitink

Further reading:

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 the monetary system’s warnings since 2021. Right on cue, the United States reported economic contraction in Q4 2021.

—-EP. 228 REFERENCES—-
One More For Euro$ #5: The Mainstream Downgrade Parade: https://bit.ly/381wjf4
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

——-THE EPISODES——-
YouTube: https://bit.ly/310yisL

Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Reason: https://bit.ly/3lt5NiH