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All-Star Jeff Snider and Erik discuss:

  • Why “base money” really isn’t base money
  • Fed announcements in perspective
  • What’s really missing: The dealers who used to supply global dollar liquidity

Supporting Materials for Download

What Is Money? Misplaced Focus on Bank Reserves & the Fed 

Mr. Snider is Chief Investment Strategist and Head of Global Research at Alhambra Investment Partners.  Through detailed and comprehensive investigation of the global monetary and banking system, he was one of the few analysts to sound the alarm during the run-up to the panic of 2008 and then to predict the rebound in 2009.  His current commentary focuses on the global implications of the ongoing monetary deconstruction including the failure of Federal Reserve and central bank policy.  Mr. Snider is published nationally at RealClearMarkets, NewsMax, David Stockman's Contra Corner, and other places.