WELCOME THE THE ENFILADE CAPITAL BLOG
In our blog, we will share some research insights relating the disengagement of our financial and economic system. Our Capitalism model is trapped in Prisoner’s Dilemma; 45 years after the end of the Bretton Woods global central banks have manipulated the cost of risk in a competition of currencies’ devaluation resulting in a dangerous build-up in debt and leverage, lower risk premiums, income disparity, and greater probability of tail events on both sides of the return distribution. We all take part in this game and we can try to understand what is happening behind the scenes.

In this era of monetary fiction, one tends to read all types of undocumented and misguided views on monetary policy. However, if there is one that really is infuriating: MMT science fiction.

One of its main principles is based on a fallacy: “A country with monetary sove...

Happily dreaming in La-la-land till the rude awakening.

The Fed’s efforts to raise interest rates across the spectrum have borne fruit only in limited fashion. In the Treasury market, yields of longer-dated securities have not risen as sharply (prices fall when yields r...

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