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Currency Swap Facility Comment — Brian Romanchuk

Summary:
People read much into the implications of currency swaps that is not there. Much ado about nothing. Brian explains why in terms that are simple to understand.Why swaps?You either have capital controls, or you have central banks acting as swap dealers of the last resort, or you have periodic meltdowns of the currency system. Pick your poison.Bond Economics Currency Swap Facility CommentBrian Romanchuk

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People read much into the implications of currency swaps that is not there. Much ado about nothing. Brian explains why in terms that are simple to understand.

Why swaps?
You either have capital controls, or you have central banks acting as swap dealers of the last resort, or you have periodic meltdowns of the currency system. Pick your poison.
Bond Economics
Currency Swap Facility Comment
Brian Romanchuk
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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