Monthly Archives: April 2012

Gold, a form of collateral that pays zero interest

The FT makes the case that gold is less and less different from zero-interest treasuries, and therefore an attractive form of collateral in the shadow banking system. If people think of gold as collateral, then the demand for it will … Continue reading

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It was a Gang of Five, not a Gang of Four.

I haven’t followed Chinese politics at all for years, but this story in the Guardian caught my eye, since I noticed that many in the West, including the redoubtable Nouriel Roubini, were speculating that the fall of Bo was of … Continue reading

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