RE:Black Swan? Black Swan?
Some say a Black Swan is something no one sees coming...to me it is probably more like some elephant hiding in plain sight. Like say this? (Got dollars?)
https://www.zerohedge.com/markets/chinas-moment-reckoning-arrives-38bn-state-owned-giant-announces-largest-dollar-bond
What is really weird about offshore dollar loans - they are often loans made with no US involvement whatever...further inflating the dollar regime beyond the reach and control of the Fed. And the source of potential systemic risk that may force the Fed's hand...like perhaps this latest repo crisis that seemed to catch the Fed off guard?
I think the last estimate I saw of these offshore dollars was around $11 trillion and as more than one commentator noted, requires regular dollar interest payments and they do eventual expire...
So the size and age of this debt could have a shorter fuse than people realize...some of which could be behind this Repo madness. Another $500 billion by YE...Pifff - chump change. :-)
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Black Swans from Melbourne
https://www.pinterest.ca/pin/386465211763043665/