{"id":13821,"date":"2021-02-20T18:11:05","date_gmt":"2021-02-20T18:11:05","guid":{"rendered":"https:\/\/www.duck9.com\/?p=13821"},"modified":"2021-02-20T14:17:14","modified_gmt":"2021-02-20T18:17:14","slug":"basel-9","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/basel-9\/","title":{"rendered":"Basel 9"},"content":{"rendered":"<div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\n<div dir=\"ltr\">\n<div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: auto;\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363167404075847681?s=11\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">Allowing interest rates to find their natural level, unaffected by central banks &amp; BASEL, would maximize GDP and employment. Manipulated low\/high rates &amp; the IOER mis-prices risk, forces inefficient capital allocation, &amp; adds friction to the gears of commerce.&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23endthefed&amp;src=hash\">#endthefed<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363167404075847681?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 10:43 AM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<p><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363175446980923392?s=11\" style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">Impact of&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23BaselIII&amp;src=hash\">#BaselIII<\/a>: \u00e2\u20ac\u0153Each percentage point increase in the capital ratio causes a median 0.09 percent decline in the level of steady state output&#8230;The impact of the new liquidity regulation is of a similar order of magnitude, at 0.08 percent.\u00e2\u20ac\u009d&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23why&amp;src=hash\">#why<\/a>&nbsp;<\/p>\n<p><a href=\"https:\/\/t.co\/cYCTKwNPY6\">bis.org\/publ\/work338.p\u00e2\u20ac\u00a6<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363175446980923392?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 11:15 AM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<img decoding=\"async\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2021\/02\/image0-16.jpeg\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><br style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: auto;\">\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none;\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none;\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none;\"><span style=\"background-color: rgba(255, 255, 255, 0);\">Blogged on to wordpress\u00e2\u20ac\u2122s via email publish post from my personal iPhone,&nbsp;<a href=\"tel:650-283-8008\" dir=\"ltr\" x-apple-data-detectors=\"true\" x-apple-data-detectors-type=\"telephone\" x-apple-data-detectors-result=\"1\">650-283-8008<\/a>, number that&nbsp;Steve Jobs texted me on<\/span><\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none;\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none;\"><font color=\"#000000\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><b>https:\/\/www.YouTube.com\/watch?v=ejeIz4EhoJ0<\/b><\/span><\/font><\/div>\n<\/div>\n<p><br class=\"Apple-interchange-newline\" style=\"-webkit-text-size-adjust: auto;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Cassandra \u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9 Allowing interest rates to find their natural level, unaffected by central banks &amp; BASEL, would maximize GDP and employment. Manipulated low\/high rates &amp; the IOER mis-prices risk, forces inefficient capital allocation, &amp; adds friction to the gears of commerce.&nbsp;#endthefed &nbsp; 2\/20\/21, 10:43 AM &nbsp; &nbsp; &nbsp; &nbsp; Cassandra \u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9 Impact of&nbsp;#BaselIII: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13821","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13821","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=13821"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13821\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=13821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=13821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=13821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}