Relevant:
- Europe Opens $80 Trillion Shadow Banking Pandora's Box: Will Seek To Collapse Repo "Collateral Chains"
- China's Collateral Rehypothecation Fraud Is Systemic
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- Here Are The Banks The Market Is Most Concerned About
- How The Fed Turned A Flood Of Treasury Debt Into A Scarcity Of Repo Collateral | David Stockman
2014-12-11 — davidstockmanscontracorner.com
``Indeed, in a ZIRP world the collateral chains extend so deep into the netherworld of speculation that no one can possibly trace them. That is, until after they erupt. Then we will learn all about the "risk" that was driven below the surface during the great bubble of the past 6 years just like we did in September 2008. In short, what is happening now is that risk is coming out of hiding; the collateral chains are buckling; the financial time bombs are beginning to explode.''
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