http://www.hussmanfunds.com/wmc/wmc090518.htm
In order to understand the impact of these interventions, you have to think in terms of equilibrium - recognizing that all securities that are issued must also be held by someone - and then follow the money. Initially, suppose you have a banking system with $12 trillion in assets, financed with about $7 trillion in deposits and other liabilities to customers, about $4 trillion in debt to the bondholders of the banks, and about $1 trillion in shareholder equity as a buffer against insolvency.
The Next Leg of the Commodity Supercycle? - Financial Sense Online
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The Next Leg of the Commodity Supercycle? Financial Sense Online
3 hours ago
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