Postcards: Explain Central Banking as If I'm a Small Child... or a Golden Retriever

The film Margin Call reminds us that explaining modern finance is complicated... It's better that we try to find a metaphor - and this one doesn't involve music or dancing.

Editor’s Note: Today, I’m explaining what is happening in the market… based on a breakdown of a piece I wrote this morning at Republic Risk. I want you to take a minute to read a breakdown of the modern artificial intelligence market and the smarter way to profit from it… without the risk and the insanity of today’s wild price swings. Without this investment… the entire system is a house of cards.

Dear Fellow Expat:

One of the problems - and my publisher agrees - is that I get into the weeds.

Central banking is a language that I understand. This stuff might as well be in Latin - something I became fluent in for some reason in high school. Then, I chose an even more “damaging to your health” profession in modern finance.

People's eyes glaze over when they hear terms like repo market… money market… reserves… and Treasury General Account.

As we move into April, I’m expecting a lot of choppiness due to the impact of tax payments on the money markets and banking reserves… something I’ve been hi…