Raoul Pal: Is The Repo Market Broken?

Подписаться 709 тыс.

Просмотров 481 тыс.

50% 1

Real Vision CEO, Raoul Pal, examines via Skype the recent turmoil with an international cadre of outspoken experts: monetary economist George Selgin, George Goncalves of The Bond Strategist, Scott Skyrm, executive vice president at Curvature Securities, and Dr. Z.
Barton Wang of Barton Research. Join Raoul on this voyage of discovery as he discusses repo and more with some of the sharpest minds in finance. Filmed on January 31, 2020, in Grand Cayman.
TIMESTAMPS:
00:03:52 George Selgin on The Myth of “Excess Reserves”
00:20:28 George Goncalves on the Fed: Moving the Goalposts
00:36:56 Scott Skyrm on Last Year’s Repo Breakdown
01:02:36 Barton Wang on the Fed’s Liquidity Injections
👉 Do you want even more content like this? And to see this video before we release it here? Become a member of Real Vision -- get started here: rvtv.io/membership
Thanks for watching Real Vision Finance!
#raoulpal #repomarket #Fed
About Real Vision™:
Real Vision™ is where you can gain an understanding of the complex world of finance, business, and the global economy with real in-depth analysis from real experts.
🔥 𝗚𝗘𝗧 𝟳 𝗗𝗔𝗬𝗦 of Real Vision’s insights for only $𝟭 (seriously!) rvtv.io/RVfor1dollar
🚀 Want to become a better investor or start from scratch? 👉 Join the Real Investing course now! rvtv.io/RVAcademy
Connect with Real Vision™ Online:
RV Crypto: rvtv.io/RealVisionCrypto
Twitter: rvtv.io/twitter
Instagram: rvtv.io/instagram
Facebook: rvtv.io/facebook
Linkedin: rvtv.io/linkedin
#Macro #finance #macroeconomy #markets #financialmarkets #bonds #stocks #oil #gas #commodities #equities #gold
Disclaimer:
This is pretty obvious, but we should probably say it anyway so there is no confusion…The material in REAL VISION GROUP video programs and publications {collectively referred to as “RV RELEASES”} is provided for informational purposes only and is NOT investment advice. The information in RV RELEASES has been obtained from sources believed to be reliable, but Real Vision and its contributors, distributors and/or publisher, licensors, and their respective employees, contractors, agents, suppliers, and vendors { collectively, “Affiliated Parties”} make no representation or warranty as to the accuracy, timeliness or completeness of the content in RV RELEASES. Any data included in RV RELEASES are illustrative only and not for investment purposes. Any opinion or recommendation expressed in RV RELEASES is subject to change without notice. RV Releases do not recommend, explicitly nor implicitly, nor suggest or recommend any investment strategy. Real Vision Group and its Affiliated Parties disclaim all liability for any loss that may arise (whether direct indirect, consequential, incidental, punitive, or otherwise) from any use of the information in RV RELEASES. Real Vision Group and its Affiliated Parties do not have regard for any individual, group of individuals, or entity’s specific investment objectives, financial situation, or circumstance. RV RELEASES do not express any opinion on the future value of any security, currency, or other investment instruments. You should seek expert financial and other advice regarding the appropriateness of the material discussed or recommended in RV RELEASES and should note that investment values may fall, you may receive less back than originally invested and past performances are not necessarily reflective of future performances. Well, that was pretty intense! We hope you got all of that - now stop reading the small print and go and enjoy Real Vision.

Опубликовано:

24 фев 2020

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 279

@RealVisionFinance 4 года назад

TIMESTAMPS: 00:03:52 George Selgin on The Myth of “Excess Reserves” 00:20:28 George Goncalves on the Fed: Moving the Goalposts 00:36:56 Scott Skyrm on Last Year’s Repo Breakdown 01:02:36 Barton Wang on the Fed’s Liquidity Injections 🔥 𝗚𝗘𝗧 𝟳 𝗗𝗔𝗬𝗦 of Real Vision Premium access & insights for only $𝟭 (seriously!) rvtv.io/RVfor1dollar

@aaamartian6046 4 года назад

Thanks Rao and the Real Vision Finance team for this video

@OMGAnotherday 4 года назад

Anonymous -😂- But we need some kind of medicine!

@WangErMao 4 года назад

the sound volume of your video is too low, please look into it, I have to tune up my speaker volume almost to the max to hear clearly and it's not nice when advertisements kicks in, adverts are usually loud by default, if your videos have much softer volume, the difference if really nasty.

@stevek5457 3 года назад

@tigress758 3 года назад

@@aaamartian6046 you

@AdamWoodhams 4 года назад

America: you have financial socialism. So does the rest of the world of course, but the American's probably need to hear this.

@BiffBifford 4 года назад

Bitcoin Tutorials bitcoin was developed by the CIA.

@KUfraskins 4 года назад

I’ve just come to this realization as well. Modern monetary theory is in full effect. And the problems will be pushed off to the rest of the world

@marjorietench3925 4 года назад

Yes Capitalists are bailed out. They can make any silly trade and Fed will bail them . Then the capitalist complain about socialism when the regular Joe gets $1200.

@jfausset 3 года назад

You are exactly right!

@jpkaneshida1977 3 года назад

This has been the case particularly since EM08, econ meltdown 08, where historic Godzilla sized welfare was stolen from the working class and handed to psychopaths on a silver platter. To make matters worse, the evil empire fixed nothing and, in fact, MADE THINGS FAR WORSE. Thus, 2020 IS EM08

@youcanthandlethetruth6007 4 года назад

And what was the cover for this mess? Enter COVID-19

@jpkaneshida1977 3 года назад

That has been my take since about April. The nonsense making... I thought, IF this truly was a lethal virus, then the 5,000 immune compromised homeless living in squalor on LA's Skid Row should be dropping like flies. To date, 11/28/20, nothing of the sort. That was my first clue - there're others, but Skid Row made no sense at all to me

@Captain-wc6vj 3 года назад

I don't know about you guys, but a .0000001 mortality rate scares the QE out of me. Lol

@supercecchi 3 года назад

The right virus at the right time

@samantha9313 3 года назад

Yes

@olgachumak7975 3 года назад

Nothing more accurately fitting

@GM-ie2zl 4 года назад

The repo market started blew up around Sept. 16th. Lehmann blew up Sept 15th. Is there any correlation with that? Say that the 10yr notes were expiring and the market needed to be recapitalized?

@owenbenjaminshapiro6285 4 года назад

But those events were 11 years apart, right?

@rd9102 4 года назад

I just want to say this is the BEST channel i watch on youtube. I learn an incredible amount and i feel plugged into what is actually going on with the markets. Thank you for that. On the subject, the Fed is still in uncharted waters, they got into this when things were nuts and they are going to have to just do some things (and just do them ) to get back to "normal" or they will be locked in and get analysis paralysis and never get anywhere.

@snowleopard9749 4 года назад

If the market cannot provide liquidity at such low interest rates, doesn't this suggest that the interest rates are artificially low?

@michaelglenning5107 4 года назад

Your thoughts on perceived risk and required interest rates is correct.

@MurrayHerts 3 года назад

low interest rates are a sign of tight money, they can provide liquidity they just don't want to lend

@rof8200 4 года назад

This video is like the four gospels of Jesus Christ. They all saw the same thing but they're all describing the truth from their perspectives. Lol

@emekaume 4 года назад

The Four Gospels of Raoul Pal.

@cheninblanc8208 4 года назад

great presentation.......i like Real Vision's videos, very informative

@arnoldziffel5627 4 года назад

My summary is the Fed and US exponential growth in debt will destroy the dollar in short order.

@jpkaneshida1977 3 года назад

Too true, and drag down the world in the process

@cryptoskywalker1714 3 года назад

Well, I'm glad we cleared that up.

@dylanmccanlies6789 4 года назад

Well done, sir. Forward thinking on getting professionals from various backgrounds, but linked through the financials together, instead of playing them against each other. Much easier to find common threads that way. Now to watch it 5 more times to fully understand lol

@JerryVHall 4 года назад

Excellently presented content

@danmunch1267 4 года назад

Fantastic! Great work guys.

@paulbarr1705 4 года назад

Thank you Raoul.

@jamesruscheinski8602 4 года назад

Could build up cash supply for repo market the day before so available first thing next morning.

@puti2147 4 года назад

The Last Tool left in th FED'S Tool Box is a Witches Wand .

@OMGAnotherday 4 года назад

Surud Patel - And we know they will use it!

@1122334455stc 4 года назад

Why didn't they use it in the first place!

@Tampa0123456789 4 года назад

Lol😁

@casperhxr6018 3 года назад

I think there are two tools left. -A hammer and a sickle.

@shanewatkins1350 4 года назад

Thank you Raoul Paul fascinating

@sommi888 4 года назад

🧡💛💚💙 The Third guy is VERY smart. He knows his stuff. Well-hearsed on yield curves & predictability. 🧡💛💚💙

@klayed 4 года назад

WHATEVER

@AZmisc 4 года назад

What if it is the Bills that failed in the secondary market? The tax seasons etc became the cover up. But the Bills stopped being liquid in the secondary market and Treasury / Fed panicked anticipating this will affect the primary market. Hence the Fed put the ceiling on the Bills rate by "purchasing" these in the secondary market.

@alfredgordon4603 4 года назад

No amount of money printing or lower interest rates will replenish the merchandise on the shelves in stores. The supply chain has been vastly interupped, two months from now the people will be out with their pitchforks.

@1420MHZ 4 года назад

Alfred Gordon Yeah right, the people have been taking it and asking for more, they won’t do jack squat which is exactly why we are where we are.

@gaylewilliams4805 4 года назад

Excellent interviews!

@linmal2242 4 года назад

From the buffering in the video conferencing, Raoul I think you need SpaceX Starlink internet connection once they start offering it as a service!

@ChuckRinger 4 года назад

Can we get an update on this video now that the bull run has ended and the Fed announced $1.5trillion in new repo loans?

@moideha 4 года назад

Sure! Things are now even more messed up Buy Bitcoin

@jvitajvita7302 3 года назад

what platform would u suggest?

@henrybartlett1986 4 года назад

Very interesting and informative presentation. However, as a self employed businessman, where is my Fed ?

@markettrader911 3 года назад

You must be confused, the Fed is for Wall Street 🤣🤣

@tictoc5443 3 года назад

Sorry but the fed is a central bank ie to keep banks solvent as well as help govt achieve macro objectives

@davior14 4 года назад

Fantastic piece of investigative journalism. Informative, interesting and impartial. That we have come this far without these questions being asked let alone answered our a testament to just how little people are informed of the very systems we live, work and die by. The reality is disheartening... Nice work

@kirstinstrand6292 4 года назад

What about the untracked Off Shore Accounts that some have commented on?

@steventokeshi8847 4 года назад

Like Jeffrey Snider

@jpkaneshida1977 3 года назад

Steve is right; Snider knows his stuff

@rifekimler3309 4 года назад

This is all a convoluted explanation of the Fed monetizing the federal debt.

@poemsbyshannon9910 4 года назад

Can you expand on this please for a simpleton like myself?

@ainisepalu8427 3 года назад

Amazing interviews and a great learning platform!

@TheDogbeak 3 года назад

Just awesome, thank you 🙏

@chrisbaxter489 4 года назад

Hi Raoul, A few questions, is all the money being offshored in tax havens basically unaccounted for once it leaves the system? Are those banks where all this money is being held part of the primary dealer system? I've always heard that it is over twenty trillion and growing, wouldn't that cause a liquidity crisis if there is massive amounts of money leaving the system and not being used in the financial system?

@abexman 4 года назад

47:28 Why not now focus on the securities side vs cash? RV guest Jeff Snider would point to the collateral storage as the primary repo issue

@olgachumak7975 3 года назад

It is said that genius always pass ahead time.. how transparent these interviews are. Considering interconnectiveness of international monetary system, 17th of September, the date when repomarket rates hiked, deposits of ECB went negative 0.5

@warntheidiotmasses7114 3 года назад

What do you predict will happen in January?

@dean827 4 года назад

I loaded on bit and ether yesterday at 5.8K after watching your clips. I mean I LOADED UP! Maybe we can have a drink in Marbella someday. Cheers

@JR-ly6bx 4 года назад

So the fed issue treasuries to fund US deficit, then has to buy back its own treasuries with cash in repo market to supply liquidity to market?

@jonathandilin5301 4 года назад

Thank you for this because I knew this was bad but I had no idea in what way it was bad.

@philiphall8309 3 года назад

These videos that RVF has put together have been amazing! So much info and in a great format.

@jorgeponce5512 4 года назад

Thank you very much, Raoul. It would have been great if you could've brought someone from the hedge fund industry to get their answers regarding your concern about too much leverage and margin calls back in mid-September 2019, although I doubt any of them would like to bring the roaches out the carpet. Interesting, Scaramucci's hedge fund was reported to be in big trouble in March 2020 trying to finance some positions in his balance sheet (Skybridge Capital).

@d.m.c.2963 4 года назад

High quality content. Thank you for this.

@chrisallen2519 3 года назад

This guy is the best. He should be in Suits 2. A comedy version ;)

@IsaacWendt 4 года назад

Watched all 4. Still no idea. I need a simple very of this haha. Feel free to help me out.

@thomaskauser8978 4 года назад

The spread between t-bill /eurodollar is broken meaning no mo free money?

@michaels4255 4 года назад

When the world was on the gold standard, sometimes the treasury or central bank had to raise interest rates to maintain or increase their gold reserves by attracting more foreign investment. Of course, this sometimes led to short term economic distress, but that was the price of maintaining solvency. Now that the world is on the dollar standard, could a country short on dollars not attract dollars the same way: by raising interest rates and bearing the short term economic pain that ensues? Countries seem to be overly focused on avoiding short term economic pain at any cost.

@jackdrusus2226 4 года назад

Market..what markets? It is a Comand and Control Central Bank Control system.

@Stefan-gh7xr 4 года назад

Not really... the FED is fighting the eurodollar system which has become incredibly huge. The offshore banks 'control' the eurodollar system. Watch the videos with Jeff Snyder on the MacroVoices or George Gammon channels.

@Stefan-gh7xr 4 года назад

@Der Gorghast Because during the GFC there was a shortage of dollars in the eurodollar system causing a large increase in the LIBOR interest, while at the same time a lot of money was flowing into the gov bond market to find a safe heaven. This resulted in an almost zero Fed funds rate. So the Fed did not know how to deal with this situation and how to control these two rates which historically were always following each other. Since then the system is broken because there is not enough collatoral for banks to give out credit, hence there is still a shortage of dollars. The fed can do as much QE as it wants, although this increases the bank reserves, they still are not willing to create more credit, because of the increased awareness of risk and reduced collateral since the GFC.

@catsincredulous9998 3 года назад

The markets that are robust Due to Trump's stout fiscal policy! The fact that he has Levied tariffs with China while keeping a tremendous relationship with xi xing ping speaks to his Superior prowess as man and president. Furthermore, he's going to have the military distribute the vaccine in a *Fair and Equitable* way! Equitable! Lol, just clowning you dawg. Not only is this cat incredulous, but he's equitable!😂

@themossinator 4 года назад

very last point there is interesting

@organichand-pickedfree-ran1463 4 года назад

How does the Treasury influence the market? What are they doing exactly with their money? (In the span of a week)

@russburton6262 3 года назад

nailed it bro i think that if they dont maintain the repo market liquidity dries up and credit freezes

@martinleepgg 4 года назад

At some point will the rug be pulled on a sacrificial bank or banks, causing an unforeseen interbank unwinding?

@OMGAnotherday 4 года назад

Martin Lee - So my observation (35 years in manufacturing), is that financialisation has lost sight of production, that “they” (the money people), think they can survive without the means of production, or at least very little of it. I don’t think they can, it’s all interlinked, and the reason all these financialisation measures or perhaps a better word “tricks” aren’t working, is because there is no substance any more, no foundations for the economy, and in my observation, the foundations have always been the production of goods, and the services that went with those goods. Production is being starved because people are not buying. Just my thoughts, but would like an opinion from others. ✌️

@OMGAnotherday 4 года назад

Maaa-aaa-aaate - ✌️- Agree!

@jamesfranks5576 4 года назад

@@OMGAnotherday I agree with the over-capitalization part, but I believe we are now oversupplied with goods due to globalization of manufacturing at cheap prices of labor,debt, and automation. It's a sea change in the world order, and a test of traditional capitalism. I have no idea how it goes forward from here, but I think it is going to be a rocky near future.

@blackjackjack5612 4 года назад

@@OMGAnotherday I suppose we're all going to find out soon conv19

@JinKee 3 года назад

25:00 when did the eurodollar market get separated from the USA dollar market? Was it 2008? Is that why the US Fed not reporting the M3 money supply any more?

@adamant8699 3 года назад

What type of securities and quantities are we talking about? T-bills,T-Notes or T- Bonds?

@HerbertHoover69 3 года назад

SELL MORTIMER, SELL MAN, SELL SELL SELL (TRADING PLACES C:)

@nickmattio3397 4 года назад

“Show Me The $$$ Jerry!

@robotpolice2042 4 года назад

With that mindset it won't be for long till you begging for change on the streets🤘🏾😜

@johnnyutah4584 4 года назад

It’s not E=mc2 .. It’s called fraud 😂😂

@forewarned3428 4 года назад

Its freaking crazy that markets and or our financial system as a whole is so complex or non transparent enough that these folks that are in the know are not completely clear on what is going on. Seems to me that is a shaky foundation for anything to be build upon. That said I'm an electrician and know nothing about the financial system.

@michelesimko7541 4 года назад

Too much butter. Heart attack time

@joshuavanderplaats 3 года назад

Excellent video Raol.

@supercecchi 3 года назад

Excellent work. Thank you very much for the superior quality of information

@naturnaut9093 3 года назад

It is essential to end the FED and remand the functionality back to the US government where it legally belongs.

@robwininger5993 3 года назад

Trump already moved the Fed into the Treasury!

@markus27183 4 года назад

He has some big screens.. for such a little keyboard :D

@firstmatepegboot2589 4 года назад

I learned so much in this video. If I see Mr Raoul Pal - I watch. Thank you

@robertfeinberg748 3 года назад

A question is whether the Fed will become independent for the year in which Powell may coexist with Treasury's Brainard.

@priapus1337 3 года назад

One day, hopefully, we can meet at a fortnight concert. Lol

@paulwalton5383 4 года назад

@bartonoptions doesn't seem to exist.............???

@rockymountainrockhound4393 4 года назад

Should be picking up.

@sugershakify 3 года назад

Any new thoughts with the recent Repo insanity ?

@braticuss 4 года назад

It's amazing people are still denying this round of QE. Short term vs. Long term is irrelevant, they're monetizing debt, plain and simple.

@kirstinstrand6292 4 года назад

I approve of the last guest. 😏

@bmwofboganville456 4 года назад

Real Vision should do an ad-supported tier... under $99 a year would be the sweet spot for "informed retailer investors" who simply enjoy the market analysis but don't necessarily act upon it.

@RealLifeFinance 4 года назад

Great point

@brettharman8921 3 года назад

The start of this entire charade

@zeemazm 4 года назад

Why Real Vision in Cayman island?

@blackjackjack5612 4 года назад

Well just consider what's available there: nice beaches, complete water sports available, easy access to drugs, local food would be cheap, no flu viruses, off shore banking and pretty women.

@relobmit 4 года назад

Why not?

@spheretubebox 4 года назад

George Selgin sounds like Buffalo Bill from Silence of the Lambs.

@justjacqueline2004 4 года назад

My education has been woeful.

@danahsutton101 4 года назад

I don't understand half of this.

@ef7480 3 года назад

Always mention the YEAR AD as well as the month when posting anything to do with markets and financial shenanigans ....

@b.griffin317 4 года назад

The third guy reminds me how much the Fed just wings it all the time and frankly has no idea what it's doing.

@warntheidiotmasses7114 3 года назад

So the stock market, eurodollar market, or bond markets are levered to the hilt.

@youflatscreentube 3 года назад

Classic case of ‘adjusting the deck chairs on a sinking ship’. In final analysis: it’s a joke.

@rjjrmiller 4 года назад

When the short term repo loan is over does the Fed get the money back? Or is the fed giving the money to the banks each time? If they are giving free money it’s going to be riddled with fraud.

@OMGAnotherday 4 года назад

I know it’s not quite the same subject, but I believe it’s a major reason for all this instability. So my car battery ran flat yesterday, (my fault, left a light on ☹️). So I called the AA my homestart policy people. Got talking to the engineer, who says he had worked for the AA for 27 years, but recently he had got really fed up with the way the company was going, targets KPI’s time constraints, and that their modus operandi now was to bring in young people and burn them out! He said that they had been bought and sold several times by hedge fund managers (his terminology), and that the last two had stripped the company of almost everything, and now the AA is left only being able to service the debts. (I haven’t looked at the figures, I’m taking his word for it). The AA is one of two largest vehicle recovery in the U.K., it’s been going since 1905. So my point is, how is this going to be sustainable, if their business plan is to just take the money, and burn out young people, where are they going to get all these replacement people, it takes a long time to learn these skills. If this is what’s happened to the AA, then it’s happening everywhere, capitalism is definitely in trouble! The roots of the plant are dying from neglect!

@OMGAnotherday 4 года назад

prashanthigirl / I have thought long and hard about what we should call this state, and it is corporatism, and elitist. I believe it to be an inevitable consequence of capitalism!

@randolphferguson3202 4 года назад

Bingo number 4. I'll translate, the US has become to small relative to the GDP of the rest of the world, to handle it's reserve currency status.

@steviej3112 4 года назад

Can you sum up the premises in 3-4 points? TIA

@mimijaneemi7549 3 года назад

So if dollar liquidity was a problem back then, and that was pre-Covid, it’s easy to see why it is much worse now (around election time).

@pauldusa 3 года назад

A cool. Subject

@sueferreira9711 4 года назад

So in essence, no one knows what is going on, even the experts and my guess, also the Federal Reserve. Ultimately, we are headed to the Weimar Mark and the Zimbabwean Dollar.

@kirstinstrand6292 4 года назад

None of these guests explained anything that was anything but circular Poppycock. Sounds official, but lots of excuses, no meat Raoul waa direct, unlike his guests.

@owenbenjaminshapiro6285 4 года назад

All fiat currencies eventually fail. The Fed can only hope that the size of their construction is so enormous that it can't fall over on their watch

@dobrintzvetkovsky 4 года назад

Owen Benjamin Shapiro true but the dollar hasn’t and isn’t that a great accomplishment

@takashimurakami6420 4 года назад

One thing that I wish someone to clearly explain me is : what is the implication of dollar in its role as international currency, in terms of dollar ( US dollar, Euro dollar) flow among all banks of the world and how this international repo operation is conducted in a daily basis between them involving FX market which determines the currency fluctuations between several currencies vis a vis the dollar. In other words, how to follow the money in dollar circulating through all international banks and through several countries and at several time differences as a daily international repo operation, consolidated in the Fed? Does my question make sense? Just my curiosity.

@takashimurakami6420 4 года назад

@@vairavanrenganathan4752 thanks for your explanation. In being so, what is euro dollar and why is denominated as dollar outside of USA separated from domestic currency of USA. This system is same for petrodollars? Thanks to clear my curiosity.

@takashimurakami6420 4 года назад

@@vairavanrenganathan4752 I see. Thanks for clear info. I suppose 99% of crude oil is in dollars so far. And how about EuroDollar. If all dollar denominated transaction in any country goes thought a US banking system it is under Fed control, of course, then all eurodollar transactions pass through Fed. Is it correct? And then if a Japanese bank lend to chinese bank denominated in dollar basis and by a chance the Chinese side had difficulty to repay the loan, this japanese bank will go into repo operation at Fed if it face liquidity shortage in dollar?. Is it the way it works, supposing that japanese bank has branch in USA? Or it only can be done passing through an American bank? Sorry for many questions but really I am interested and you probably has the answer. Thanks

@takashimurakami6420 4 года назад

@@vairavanrenganathan4752 The Eurodollar system is a global financing system regulated by no one, influenced by many, and directly or indirectly affecting every asset price globally. Think of it as a deposit and loan market for offshore dollars. It affects asset prices because it is the wholesale financing system most used in the world.2 de dez. de 2016

@anteluka6743 4 года назад

@@vairavanrenganathan4752 Fantastic info and thanks for taking the time to explain it.

@warntheidiotmasses7114 3 года назад

42:00 September 17 2019, The Federal Reserve System Open Market Account (SOMA) is a portfolio of U.S. Treasury and Federal Agency securities1, foreign currency investments and reciprocal currency arrangements. It got large with treasury securities valued at 4 Trillion and at that time they let them expire and it amounted to the opposite of QE. Basel III went into effect in December 2019 is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk. This third installment of the Basel Accords was developed in response to the deficiencies in financial regulation revealed by the financial crisis of 2007-08. Wikipedia Supply and Demand of cash and supply, and can push rates lower at the Repo market and demand of securities, Treasury securities, can push rates higher. At the end of 2019 everyone was nervous rates were going to spike. The Fed came in and put cash in and took securities out. Hedge funds and market players own 100's of billions of treasury securities they use as collateral. Despite the action of the Fed buying treasury securities in order to surpress the repo market rates, they continued higher at the end of 2019. Additional cash was needed.

@tonyfaulknor8273 3 года назад

19:43 Don't worry you won't, you Brothers of truth are back. I just hope it's not too late.

@dalehumphrey4264 4 года назад

The first guy is an expert puppet

@amanda.collaud 3 года назад

they are all puppets, its about money afterall.

@pcofranc 4 года назад

Real Vision Finance - HELP -- We really need DIAGRAMS & ILLUSTRATED FLOW CHARTS to better understand and visualize how these markets are supposed to work and have worked historically and then add in the Treasury tampering to better conceptualize what is going on. Otherwise, I loved the deep dive.

@agentsmith3577 4 года назад

9 ad breaks? Seriously?

@3DKLUB 4 года назад

2020 and still no adblock?

@agentsmith3577 4 года назад

@@3DKLUB can't get adblock for the free YT mobile app

@3DKLUB 4 года назад

@@agentsmith3577 ahh, on mobile I use a VPN and check youtube through a browser.

@jamesruscheinski8602 4 года назад

Yield curve would steepen if U.S. government sell more long term treasury bonds while Federal Reserve only purchase short-term T-bills.

@kyhxx Год назад

1:12:30 !!!!!!! nod etc^

@miltonchurchill8040 4 года назад

Utmost respect for George, but it is highly disengenuous to advance the idea that tamping down overnight rates from 10% to 1.5% did not have an impact or were not supposed to have an impact on equity pricing. In the absence of Fed intervention, a 10% overnight rate would have substantially drawn down equity markets. When that risk was removed, and capital need not flow to meet that demand, equity markets were bid up.

@copperbackpack2025 3 года назад

Ok look, Real Vision just keeps auto playing on my channel!

@MurrayHerts 3 года назад

1:23:20 well you certainly called the dollar liquidity crisis that happened in March! well played

@warntheidiotmasses7114 3 года назад

Maybe they're collapse the markets before Biden takes office so they can blame it on Trump, and Biden can take credit for re inflating everyone's portfolio. Sounds like according to Bart it's all in the Treasury Secretary's hands.

@warntheidiotmasses7114 3 года назад

What's your take on Bitcon? Backed by the greater fool theory?

@gasdorficmuncher9943 3 года назад

air date feb 8 ??? why post this

@tonyfaulknor8273 4 года назад

26:15 Yeah, they know what the problem is, you can see them now. They're going to need another war to 'paper' over this one.

@jpkaneshida1977 3 года назад

And... right in cue, the evil empire installs a total war hawk

@johngrammatikos9135 3 года назад

Mike from Kitko?

@edfeten4724 3 года назад

So whatever happened to the Repo Market? It was such a big deal at the end of 2019.

@Captain-wc6vj 3 года назад

I feel like Raoul and his friends need to watch that youtube video from way back called "All Wars are Bankers Wars." Then everything the Central Banks are doing will make perfect sense...

@outbackeddie 3 года назад

Way too advanced for me. I need a dummies version of this discussion.

@MurrayHerts 3 года назад

The comments here are on the whole very inaccurate, please watch Steven Van Metre and Jeffrey Snider (both feature on Real Vision and other channels) to learn how things really work