Comments by "Frederick Miles" (@frederickmiles8815) on "Eurodollar University" channel.

  1. …what could possibly go wrong 😂
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  2. BLK and Vanguard are the same institution - existing in spite of Section 8 of the Clayton Anti Trust Act. Shadow banks pretty much absorbed and scaled up the criminal enterprises - risk minus any form of a real Control environment. It is beyond ironic that Bernake ended up at Citadel, it’s like he just gave up.
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  3. Shadow banking rehypothethciation, and fugazzi tranches of collateral, is what will decimate global lending imo.
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  4. Correct - excellent analysis - there is alot of fugazzi collateral, i always viewed it as derivatives of the Feds repo markets (minus the security one gets in a closed bank reserves closed economic model). And what is scarier is the swaps used as insurance (look into perpetual, bullet, and some of the super dirty swap instruments - especially when you realize the connectivity to retail products like same equities, investing, etc). So many large players are not writing down losses (especially OTC) and so much paper is backed by nothing - not just junk masked at pristine - and the swaps at this point could never ever be paid out.
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  5. Stablecoin fugazzi blowing up UBS?
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  6. SLAB’s (Student Loan securities) going t*ts up?
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  7. Oil is going to skyrocket by end of Q4, 150+
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  8. Not quite - Kenny is both a fund and largest MM. Over 60+ offshore subsidiaries, uber complex Ponzi scheme. What scares us about Kenny is unrealized losses due to assets sold not yet purchased (his off exchange OTC numbers are even worse then public - closed funds). Like Soros he has deep political connections and amazing tech (ABC Strategy - narrow AI) - his short positions on treasuries would make him the lehman/ltcm of this cycle. As supposedly he was told - 'we dont care how much exposure BofA and BNY have' - Kenny isnt getting a bailout from Fed (window access and a line) like he did in Q1 2020. He is able to screw retail but he will not be allowed to play those games with treasury markets (that is the adult conversation behind closed doors - no one cares about the rfr basis trade - especially Kenny and his bankers). If your quick with it and understand have access to the right 'non-ATS' checkout the perpetual swaps, bullet swaps, etc tied to Citadel and their official and unofficial subsidiaries - its a mess. He can never close some of those positions without blowing up - his biggest wound is short tbonds. And like Dalio he doesnt understand where actual dollars comes from.
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  9. Every time the reverse repo drops - equities pop, that is the bailout of the money markets that is about to trigger an everything squeeze (blow off top event).
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  10. If you go to the window your going through way to much pain - that is the signal your sending to your peers. 'Lender of last resort' - what you are discussing the Chief Controls for JPM Credit Risk told me over 4 years ago (Q4 '19 repo spike). Fed is their criminal wisdom wants broken actors to go to window instead of triggering spikes in overnight lending. Fed and all SRO's and regulators exist to protect bad actors from accountability, but they are just the tail - bad actors will only go to window as last resort (in prep for bailout).
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  11. Also - the part he misses is the moral hazard, the blindspot is not benign as it is key driver for liquidity for many domestic players using offshore llc's in various markets. Digital architecture and algo's are often designed to take advantage of regulatory blind spots (regulatory arbitrage).
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