{"id":12207,"date":"2019-08-15T15:20:08","date_gmt":"2019-08-15T19:20:08","guid":{"rendered":"https:\/\/www.duck9.com\/?p=12207"},"modified":"2019-08-15T15:37:21","modified_gmt":"2019-08-15T19:37:21","slug":"low-interest-rates-set-a-5000-year-low","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/low-interest-rates-set-a-5000-year-low\/","title":{"rendered":"Low Interest Rates Set a 5,000 Year, Low"},"content":{"rendered":"
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By Larry Chiang<\/div>\n
Good luck out there if you\u2019re studying Deep Underground Chinese Knowledge [d.u.c.k.]<\/p>\n
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<\/span><\/td>\nBrad Lemley (@BradCLemley<\/a>)<\/b><\/td>\n<\/tr>\n
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8\/14\/19, 4:34 PM<\/font><\/a><\/div>\n
<\/a>\u2066\u202a@NickSzabo4\u202c\u2069<\/a> Bloomberg’s blithely asserting the “non-weirdness” of something that has not happened in 5,000 years is a pretty unique take:  businessinsider.com\/5000-year-hist\u2026<\/a><\/span><\/font><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/span>Download<\/a><\/span> <\/span><\/p>\n<\/div>\n

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<\/span><\/td>\nNick Szabo 🔑 (@NickSzabo4<\/a>)<\/b><\/td>\n<\/tr>\n
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8\/14\/19, 4:06 PM<\/font><\/a><\/div>\n
It doesn’t cost any more to store bits or paper in Europe now than it did when interest rates were positive. The “storage costs” metaphor as a justification for negative interest rates is a whopping falsehood.<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/span>Download<\/a><\/span> <\/span><\/p>\n<\/div>\n

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<\/span><\/td>\ngluckq (@gluckq2<\/a>)<\/b><\/td>\n<\/tr>\n
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8\/15\/19, 4:26 AM<\/font><\/a><\/div>\n
<\/a>\u2066\u202a@BradCLemley\u202c\u2069<\/a> <\/a>\u2066\u202a@NickSzabo4\u202c\u2069<\/a> Reading on negative yields, it’s easy to distinguish the real jurnos from the jackals trying to benefit from robbing the orphans & widows. The real jurnos will mention the coercion against pension funds, etc.; whereas the jackals will try to convince that negative yields are OK.<\/span><\/font><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/span>Download<\/a><\/span> <\/span><\/p>\n<\/div>\n

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<\/span><\/td>\nBrad Lemley (@BradCLemley<\/a>)<\/b><\/td>\n<\/tr>\n
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8\/15\/19, 7:59 AM<\/font><\/a><\/div>\n
<\/a>\u2066\u202a@gluckq2\u202c\u2069<\/a> <\/a>\u2066\u202a@NickSzabo4\u202c\u2069<\/a> Yes, okay for the big boys who do cross-currency basis swaps, but murderous for, say, pension funds with rules forcing them into these instruments. Negative rates exploit “rule inertia” – the fact that rule makers never imagined such rates would exist.<\/span><\/font><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/span>Download<\/a><\/span> <\/span><\/p>\n<\/div>\n

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<\/td>\nNick Szabo 🔑 (@NickSzabo4<\/a>)<\/b><\/td>\n<\/tr>\n
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8\/15\/19, 8:05 AM<\/a><\/div>\n
<\/a>\u2066\u202a@BradCLemley\u202c\u2069<\/a> <\/a>\u2066\u202a@gluckq2\u202c\u2069<\/a> They also expose how heavily and disastrously regulated the fixed-income market is. It often departs very far from the ideal free market of economics classrooms, with prices often “signalling” more the consequences of regulations than natural supply and demand.<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Download<\/a> <\/p>\n<\/div>\n

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By Larry Chiang Good luck out there if you\u2019re studying Deep Underground Chinese Knowledge [d.u.c.k.] Brad Lemley (@BradCLemley) 8\/14\/19, 4:34 PM \u2066\u202a@NickSzabo4\u202c\u2069 Bloomberg’s blithely asserting the “non-weirdness” of something that has not happened in 5,000 years is a pretty unique take:  businessinsider.com\/5000-year-hist\u2026 Download  Nick Szabo 🔑 (@NickSzabo4) 8\/14\/19, 4:06 PM It doesn’t cost any more to store […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78],"tags":[],"class_list":["post-12207","post","type-post","status-publish","format-standard","hentry","category-deep-underground-cryptocurrency-knowledge-9"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/12207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=12207"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/12207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=12207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=12207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=12207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}