Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

Activity

You added a note
7 years, 11 months ago

the problems with quantitative easing

The idea is simple: the central bank buys from commercial banks other people's debts. Who are these 'other people'? They can be families that owe mortgages to the bank, corporations, or even a government that has sold bonds to the bank. In exchange for these debts and the stream of income they prod…

—p.187 And the Weak Suffer What They Must? The Reverse Alchemists (146) by Yanis Varoufakis
You added a vocabulary term
7 years, 11 months ago

doldrums

John Maynard Keynyes, back in 1936, had to quote Ibsen's Wild Duck in order to convey to his reader the problem that a central bank faces when interest rates fall to zero but the economy is still in the doldrums

—p.187 The Reverse Alchemists (146) by Yanis Varoufakis
confirm
You added a vocabulary term
7 years, 11 months ago

warrant

Warrants are essentially options to buy more shares at the original low share price.

context: private buyers of bank shares got to buy in at a low low price

—p.184 The Reverse Alchemists (146) by Yanis Varoufakis
notable
You added a vocabulary term
7 years, 11 months ago

Outright Monetary Transactions

the Outright Monetary Transactions programme. [...] the ECB would step into the money markets to buy unlimited numbers of Italian and Spanish bonds in order to stabilise their value--and with them the interest rates that the Italian and Spanish governments paid to refinance their public debt.

it worked, because bond dealers took the ECB at its word and started buying Italian/Spanish bonds and so the ECB never had to actually step in during the first year

—p.179 The Reverse Alchemists (146) by Yanis Varoufakis
notable
You added a vocabulary term
7 years, 11 months ago

apostate

the Bundesbank waiting in the wings to denounce Mario Draghi as an apostate

—p.180 The Reverse Alchemists (146) by Yanis Varoufakis
notable