Loan Growth Hints at Coming Asset Inflation; Algos Battling Algos; Wideman Takes Issue With Monetary Policy

April 21, 2012


“You can’t get rid of poverty by giving people money.” – P.J. O’Rourke


Short only ETF Manager Looks for Aggressive Accounting $HDGE ~ advisorshares


UBS Uses IPad to Let Clients Design Trading Algorithms ~ bloomberg

  • People mistakenly believe manual institutional block orders battle automated high frequency trading, with the former and their lobby claiming abuse. Both types of algorithms – those alogorithms that work larger orders versus those market making algorithms that provide liquidity – compete, which accelerates the price discovery process. Naturally, institutions do not like other algorithms finding their algorithms, but tough shit, the market is better for it. The point of the market is to reach an efficient price where a transaction can be conducted, not so institutions and market makers with privy information into order flow and special order handling rules can fleece the market.

Central Banking:

U.S. money supply growth offers signal by @ The Globe and Mail

“broad money and credit [are] still growing at a ‘healthy’ pace.” ~ credit growth predicts asset booms early in the cycle, busts later 


$BBT reported a 9% increase in #C&I loans, 20% increase in mortgage loans, and 15% increase in direct retail loans.~ operationnewbubble  #inflation

Currency Wars: Gambling With Other Peoples’ Money ~ Merk Funds   ~ argues IMF transfers money from those who worked for the money – or printed it – to those that didn’t.


ECB Weidmann: Monetary Policy Cannot Solve Structural Problems WSJ (need pw) but, it does pretend, extend, and expand the problems 

“Our shared monetary policy cannot…lead to governments delaying reforms.” ECB’s Wideman ~ why would they push through reforms if enabled? All of Europe is voting away Germany’s wealth


Georgetown Professor on his three year study on China‘s massive tunnel system, which is used for hiding nuclear weapons

The War For The BOJ’s Balance Sheet Gets Real | $USDJPY ~ ZeroHedge

China’s Political Stability Questioned, while Deposit Withdrawals Accelerate ~ HistorySquared

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