…Reserves because they want to, but rather because they can’t find borrowers. Looking at state budget projections for next year, the reality that inventories cannot grow indefinitely, the unemployment and…

…disrupted markets into account and less, not more, emphasis on mark-to-model accounting. Make bank regulatory decisions independently based on whatever criteria are important to that. All the other measures–capital reserves,…

…reserves) Now the question is: How will this affect the U.S. and Europe? Certainly, there will be a race to secure raw materials, especially those whose supply is clearly and…

…if not properly sterilized. To date, inflows are not properly sterilized, as evidenced by the ongoing accumulation of reserves and rising money supply growth (again, I refer you to my…

…more than 4.5 trillion of reserves,increasing at a rate of about 17% a year. In other words, every year some $750 billion dollars of purchasing power is removed from the…

…in the low single digit rates the threat of accelerating inflation remains remote. Remember, before the 2009 surge in bank reserves can show up in inflation it has to first…

…Who’s going to purchase Treasury bonds? That’s right, Japan (at least the very large Japan Post Bank, in this case): the largest foreign holder of US assets at 12.11% of…

…Treasury’s daily tax receipts. Daily receipts have stabilized, and are now growing, off of their lows. High-frequency monetary aggregate indicators show that traditional Fed policy – increasing bank reserves through…

…payment of interest on Reserves in a deflationary environment, which has created a perverse incentive for the TBTF Banks not to lend; charging their smaller competitors for the TBTF Banks’s…

…Balance, which is to say a system whose overall financing pays 100% of whatever scheduled benefits may be while maintaining a minimum of 1 year in projected reserves in each…