Like any market, the interbank market acts like what I call an energy transfer node. The energy generated by transactions conducted in the interbank market is transferred to the State via taxes. This energy transfer is the lifeblood of the State. Continue reading Law should be pro interbank.
30-year and 10-year Treasury rates continue to tick up. Continue reading The interbank market at 8:35 am EST, 21 August 2023
In the end, the market maker’s proximity to the rate decision and the data the market maker provides trumps at least the notion of democratic participation in a decision that impacts everyone in society. Continue reading Of statecraft and governance: The market is regulated to maintain the fiction of democracy.
Foreign Exchange EUR/USD=1.1056 GBP/USD=1.2775 AUD/USD=0.6605 NZD/USD=0.6127 USD/CHF=0.8713 USD/JPY=141.7900 Treasuries 30-yr=4.18% 10-yr=4.00 Reference Rates Discount Window=5.50% Interest on Reserve Balances=5.40% Effective Federal Funds Rate=5.33% Overnight Reverse Repo Rate=5.30 Sources: Board of Governors-Federal Reserve System. Federal Reserve Bank of New York. Disclaimer: The data and output from this blog post does not constitute investment or legal advice and … Continue reading What are the foreign exchange rates, Treasury rates, and reference rates as reported by the Federal Reserve on 11 August 2023, 12:18 am EST.
If you don’t want to be on the consumed side of government (and we do not have to be), then how should you negotiate with government and what type of government should you be voting for? Continue reading Biden pushes consumption not wealth creation
No entrepreneur should pursue an ego-laden plan to build a business, which includes the renting of physical and labor resources. Any renting should be limited to renting additional funds from a bank or other investors. Also, in the case of predatory pricing, the entrepreneur-venture capitalist should audit her external and internal communications to ensure that they are not connected to inquiries about predatory pricing. Continue reading Corporations: Revamping the corporate form to protect against allegations of predatory pricing.
Blacks blew this one. The next phase is for blacks to take control of the policy agenda; to go into the courtrooms and legislatures to add meat to the compelling interests of the State. Continue reading Blacks blew affirmative action all on their own. Now to the next phase …
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 4.10 per cent. It also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4.00 per cent. Continue reading Statement by Philip Lowe, Governor: Monetary Policy Decision
The takeaway: The role of government is to feed the bond markets … Markets are not the creation of people. Markets are the creation of kings and courts designed to encourage the efficient extraction of energy, yield, and taxes. The king’s currency is a derivative of real money, the yield and energy produced by the … Continue reading Interbank Market News Scan: Fed funds, bitcoin, and foreign exchange rates at 9:40 am EST
Lawyers Write the Bets. Bankers Sell the Bets. 