"Time is coming when markets search frantically for physical collateral to find that paper far exceeds underlying collateral for several metals and other resources. I am warning that when markets fall in sustained negative response to bursting bubbles, widespread deleveraging will reveal insufficient hard collateral underlying traded asset-backed securities. The words rehypothecation and hyper-rehypothecation may be rediscovered or remembered again, forgotten somehow during much of decade since the Great Financial Crisis." Harald Malmgren "Those who run Washington generally trust the inhabitants of think tanks of their political bent to provide the intellectual foundations upon which much of public policy is built. At least in some cases, however, that trust couldn’t be more deeply misplaced, since cornerstones of the ever-expanding think-tank universe turn out to be for sale. In other words, those experts you regularly read or see on screen, whose scholarship and advice Washington’s politicians and other officials often use, are in some cases being paid, directly or indirectly, by the very countries [corporations, and oligarchs] on which they are offering advice and analysis. And here’s the catch: they can do so without ever having to tell you about it." Ben Freeman
