Jason Burack has been investigating and following The Fed's financial games for over a decade. So, when he reached out last week and offered to share his expertise on the current situation, I was quick to set up this podcast.
First of all, if you're not familiar with Jason, now is the time to get acquainted. He maintains multiple platforms for his content. You can find him by visiting his website. However, he's also on Patreon and you can register for his analysis services here. You'll also find an abundance of information on his YouTube channel.
The genesis of today's podcast was the crazy weekend before last, when Credit Suisse sank beneath the waves and The Fed, in conjunction with the other primary central banks, released this statement in an effort to calm the markets before their reopen on Sunday evening, March 19.
So what is a "swap line" and why/how do central banks use/abuse this system. Jason is here to explain as well as provide all sorts of additional background on this deliberately opaque and never-audited liquidity vehicle.
Please be sure to listen to this entire podcast today, tomorrow or sometime later this week. As the global banking and derivative crisis worsens in the weeks and months ahead, this background information will be very helpful for understanding the liquidity challenges facing the global central bankers.