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Lyn Alden
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Unless Yellen changes plans, then during the next several months, over $1T from the Treasury General Account is going to pour into bank reserves. Despite massive T-bill issuance, there is
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It'll be interesting to see who has the balance sheet capacity to absorb the Treasury issuance in the second half of 2021, and at what price. 1H2021 won't have much
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My recent article on Ethereum provoked a lot of responses in favor and against, which is good. https://www.lynalden.com/ethereum-analysis/One of my goals is to identify what is an institutional-grade blockchain, and
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There’s an old Zen koan that goes, “if you meet the Buddha, kill him.” In other words, when something is self-verifiable or self-iterating, looking too heavily towards the originator can
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Imagine a thought experiment: The Federal Reserve Act gets changed, and the Fed is able to print dollars to buy Treasuries directly from the Treasury, rather than on the secondary
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When interest rates hit zero for the first time in decades, interesting things happen. Here's the 100-year chart of total debt to GDP in blue on the left axis, vs
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There's still plenty of debate, skepticism, and misunderstanding regarding Bitcoin, which is healthy. Some institutions are allocating to it, while others move more slowly or avoid it, so there's not
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This cycle of dollar strength was created by the end of QE in mid-2014, and the initiation of QT in early 2018, all of which made US monetary policy relatively
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Here’s a new thread on the dollar, swap lines, and the treasury market. With lots of charts.AKA “Why the global dollar shortage is not insurmountable.” There is $250+ trillion of
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