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Erm, the fact that the Fed printed this money (by creating bank reserves) has been a well-known, well-advertised and utterly obvious fact for more than a year... What's more shocking to me is that the author of this article, Greg Hunter, can be so oblivious to what's going on in the world...

I think most people use the T-note futs vs Eurodollars... Therefore, I heard these things described as TUTED, FVTED, etc.

Very nice, MS... Well done and best of luck to you, going fwd!

Everyone has lived beyond their means, to an extent. If you look at the condition of the Eurozone, relative to that of the US or the UK, it actually doesn't look that bad. At any rate, noble has everything to do with it. In my view, the EMU/Eurozone is an idea that is worth bailing out and...

What, all of Europe has lived beyond its means? The fact that the union has failed to enforce fiscal discipline among some of its members is one of the challenges that will need to be dealt with. As I said, I hope they figure out the solutions to the various practical issues, because, as a...

I believe that the Euro is a noble idea and I honestly hope that the European community figures out a way to deal with the crisis. To be fair, the issues and problems the crisis had exposed are extremely challenging.

It's heavy-duty development economics... Why don't you start with his Nobel Prize lecture? http://nobelprize.org/nobel_prizes/economics/laureates/1998/sen-lecture.pdf

This is a great article, Ricter, thank you... I have a lot of respect for both Adam Smith and Amartya Sen.

Basis blowing out now, vol is going bid. No specific catalyst, but either people suddenly woke up to the risk or there's an actual fear that Greece won't be done this w/e. Or it could be short-covering into the weekend. In reality, it's most likely that Eurodollars are overreacting to the Fed...

Exactly, Daal. This is a chart of NFIB data, which is specifically based on polls of small US business borrowers. The Fed SLO survey is a poll of the banks that lend to businesses and households. I'd guess that it's the household bit that makes the SLO survey so different from the NFIB one...

This is a chart from NFIB, Availability of Loans Compared to Three Months Ago (Regular Borrowers Only), Net Percent (“Easier” Minus “Harder”):

Well, arguing about monetary policy is like arguing religion. There's just no point. In my view, Fed is not monetizing debt. Furthermore, even if they were, the assumption that monetization alone can keep rates low is total nonsense. As to the bubbles, how do you know that you or Congress or...

Oh, no!!!!! Woe is me!!!! The people have spoken and I am not wanted. I think I am going to go slit my wrists now, as I cannot bear the shame and the loss of face.

You're wrong, obviously... In fact, Russia just issued $5.5bn 5y and 10y eurobonds ($-denominated bonds issued by a european sovereign).

Broad money creation isn't done just by the govt. The private sector has pulled back to such an extent that the govt's printing press can't make up for the shortfall.

http://www.fanniemae.com/mbs/mbsbasics/market/index.jhtml?p=Mortgage-Backed+Securities&s=Basics+of+Fannie+Mae+MBS&t=Basics+of+MBS+Market+%26+Pools

Sorry, I should have said "has its members appointed for life"... The key element of what I said was "for life". However, I agree I should have been more careful. I am aware of the process through which Supreme Court Justices end up on the bench. I am also aware that, strictly speaking, a...

So what? Existence of social contracts means that all sorts of authorities/associations have all sorts of powers. Furthermore, as I keep saying, you do have access to the NY Fed's portfolio. You can see how much of each security the NY Fed's SOMA account holds. At a higher level, you can...

Congress auditing monetary policy would definitely be letting the fox guard the henhouse. Whatever incentive issue you think the Fed has with raising rates/leaning against bubbles, it's orders of magnitude worse with a proper political institution, such as Congress. Furthermore...

I am informed I assure you... And I am not a paid Fed shill, I am the Big Benny B himself, here to chat to you, HiF, and to spread the word. Not correct, to the best of my knowledge...