veridelisi
@veridelisi.bsky.social
Fed, Money, Money Theory, Monetary Policy, Blockchain, Financial Accounting, Monetary History, Economics, Econ,
veridelisi.substack.com
veridelisi.substack.com
📈🇺🇸U.S. Treasury Yield Curve
📈🇺🇸10Y – 3M Spread
Daily curves, term structure dynamics, and key rate signals.
👉 veridelisi.streamlit.app/Yield
📈🇺🇸10Y – 3M Spread
Daily curves, term structure dynamics, and key rate signals.
👉 veridelisi.streamlit.app/Yield
December 24, 2025 at 6:42 PM
📈🇺🇸U.S. Treasury Yield Curve
📈🇺🇸10Y – 3M Spread
Daily curves, term structure dynamics, and key rate signals.
👉 veridelisi.streamlit.app/Yield
📈🇺🇸10Y – 3M Spread
Daily curves, term structure dynamics, and key rate signals.
👉 veridelisi.streamlit.app/Yield
📊🏦 Who actually holds U.S. bank reserves?
New interactive FDIC Reserves page 👇
🔗 veridelisi.streamlit.app/FDIC
New interactive FDIC Reserves page 👇
🔗 veridelisi.streamlit.app/FDIC
December 23, 2025 at 5:40 PM
📊🏦 Who actually holds U.S. bank reserves?
New interactive FDIC Reserves page 👇
🔗 veridelisi.streamlit.app/FDIC
New interactive FDIC Reserves page 👇
🔗 veridelisi.streamlit.app/FDIC
We Had 400 People Shop For Groceries. What We Found Will Shock You.
www.youtube.com/watch?v=osxr...
www.youtube.com/watch?v=osxr...
We Had 400 People Shop For Groceries. What We Found Will Shock You.
YouTube video by More Perfect Union
www.youtube.com
December 22, 2025 at 8:21 PM
We Had 400 People Shop For Groceries. What We Found Will Shock You.
www.youtube.com/watch?v=osxr...
www.youtube.com/watch?v=osxr...
♻️ New repo page is live!
📊 U.S. repo markets using official OFR data
Tri-party • DVP • GCF
💵 Repo market plumbing, visualized.
We 💕💕💕@OFRgov
veridelisi.streamlit.app/Repo2
📊 U.S. repo markets using official OFR data
Tri-party • DVP • GCF
💵 Repo market plumbing, visualized.
We 💕💕💕@OFRgov
veridelisi.streamlit.app/Repo2
December 22, 2025 at 6:43 PM
♻️ New repo page is live!
📊 U.S. repo markets using official OFR data
Tri-party • DVP • GCF
💵 Repo market plumbing, visualized.
We 💕💕💕@OFRgov
veridelisi.streamlit.app/Repo2
📊 U.S. repo markets using official OFR data
Tri-party • DVP • GCF
💵 Repo market plumbing, visualized.
We 💕💕💕@OFRgov
veridelisi.streamlit.app/Repo2
Reposted by veridelisi
“.. based on the data we have to date; it looks like manufacturing is experiencing more of a slump than is generally recognized ..”
@deanbaker13.bsky.social
cepr.net/publications...
@deanbaker13.bsky.social
cepr.net/publications...
December 21, 2025 at 5:53 PM
“.. based on the data we have to date; it looks like manufacturing is experiencing more of a slump than is generally recognized ..”
@deanbaker13.bsky.social
cepr.net/publications...
@deanbaker13.bsky.social
cepr.net/publications...
Governor of the Serbian central bank:
We held 14.8 tonnes of gold in 2012. Today, we hold 52 tonnes.
"Gold in our system is treated as an instrument of stability"
??????
Source:https://nbs.rs/en/scripts/showcontent/index.html?id=21045
We held 14.8 tonnes of gold in 2012. Today, we hold 52 tonnes.
"Gold in our system is treated as an instrument of stability"
??????
Source:https://nbs.rs/en/scripts/showcontent/index.html?id=21045
December 21, 2025 at 6:18 PM
Governor of the Serbian central bank:
We held 14.8 tonnes of gold in 2012. Today, we hold 52 tonnes.
"Gold in our system is treated as an instrument of stability"
??????
Source:https://nbs.rs/en/scripts/showcontent/index.html?id=21045
We held 14.8 tonnes of gold in 2012. Today, we hold 52 tonnes.
"Gold in our system is treated as an instrument of stability"
??????
Source:https://nbs.rs/en/scripts/showcontent/index.html?id=21045
PBOC on stablecoins
Source:https://www.pbc.gov.cn/goutongjiaoliu/113456/113469/5916794/index.html
Source:https://www.pbc.gov.cn/goutongjiaoliu/113456/113469/5916794/index.html
December 21, 2025 at 6:08 PM
PBOC on stablecoins
Source:https://www.pbc.gov.cn/goutongjiaoliu/113456/113469/5916794/index.html
Source:https://www.pbc.gov.cn/goutongjiaoliu/113456/113469/5916794/index.html
For a long time, securities were reducing reserves on a weekly basis, as the Fed was not purchasing new Treasuries.
With the Fed’s new decision, securities have started to increase reserves again.
🪪https://veridelisi.streamlit.app/Reserves
With the Fed’s new decision, securities have started to increase reserves again.
🪪https://veridelisi.streamlit.app/Reserves
December 21, 2025 at 6:02 PM
For a long time, securities were reducing reserves on a weekly basis, as the Fed was not purchasing new Treasuries.
With the Fed’s new decision, securities have started to increase reserves again.
🪪https://veridelisi.streamlit.app/Reserves
With the Fed’s new decision, securities have started to increase reserves again.
🪪https://veridelisi.streamlit.app/Reserves
BlackRock casually drops this on their page:
“Carlyle: demographic-driven sectors are 52% less volatile than GDP-driven sectors.”
Source:
🔍 trust me
📈 proprietary vibes
🧠 very serious spreadsheet
“Carlyle: demographic-driven sectors are 52% less volatile than GDP-driven sectors.”
Source:
🔍 trust me
📈 proprietary vibes
🧠 very serious spreadsheet
December 20, 2025 at 3:10 AM
BlackRock casually drops this on their page:
“Carlyle: demographic-driven sectors are 52% less volatile than GDP-driven sectors.”
Source:
🔍 trust me
📈 proprietary vibes
🧠 very serious spreadsheet
“Carlyle: demographic-driven sectors are 52% less volatile than GDP-driven sectors.”
Source:
🔍 trust me
📈 proprietary vibes
🧠 very serious spreadsheet
📉 What do “alternative” funds really sell?
Low volatility, stable NAVs, and easy liquidity.
💡 Reality check: stability comes from not trading.
archive.is/202512191613...
archive.is/f4rGE#select...
Low volatility, stable NAVs, and easy liquidity.
💡 Reality check: stability comes from not trading.
archive.is/202512191613...
archive.is/f4rGE#select...
archive.is
December 20, 2025 at 2:35 AM
📉 What do “alternative” funds really sell?
Low volatility, stable NAVs, and easy liquidity.
💡 Reality check: stability comes from not trading.
archive.is/202512191613...
archive.is/f4rGE#select...
Low volatility, stable NAVs, and easy liquidity.
💡 Reality check: stability comes from not trading.
archive.is/202512191613...
archive.is/f4rGE#select...
🏦⛓️ U.S. bank just issued a stablecoin.
SoFiUSD is the first payment stablecoin issued directly by a federally regulated commercial bank, fully backed by reserves and designed for on-chain settlement and payments.
#sofi
veridelisi.substack.com/p/when-a-nat...
SoFiUSD is the first payment stablecoin issued directly by a federally regulated commercial bank, fully backed by reserves and designed for on-chain settlement and payments.
#sofi
veridelisi.substack.com/p/when-a-nat...
When a National Bank Issues a Stablecoin: Interpreting SoFiUSD
When a National Bank Issues a Stablecoin: Interpreting SoFiUSD
veridelisi.substack.com
December 18, 2025 at 8:06 PM
🏦⛓️ U.S. bank just issued a stablecoin.
SoFiUSD is the first payment stablecoin issued directly by a federally regulated commercial bank, fully backed by reserves and designed for on-chain settlement and payments.
#sofi
veridelisi.substack.com/p/when-a-nat...
SoFiUSD is the first payment stablecoin issued directly by a federally regulated commercial bank, fully backed by reserves and designed for on-chain settlement and payments.
#sofi
veridelisi.substack.com/p/when-a-nat...
Zero promotion. 4 days. 4 copies. Interesting.
December 18, 2025 at 6:38 PM
Zero promotion. 4 days. 4 copies. Interesting.
Although the tri-party BNY segment ($1.9 trillion) is the largest single repo market, bilateral markets collectively account for a larger share of total repo activity.
veridelisi.substack.com/p/understand...
veridelisi.substack.com/p/understand...
December 17, 2025 at 7:47 PM
Although the tri-party BNY segment ($1.9 trillion) is the largest single repo market, bilateral markets collectively account for a larger share of total repo activity.
veridelisi.substack.com/p/understand...
veridelisi.substack.com/p/understand...
🏦 Who actually holds Fed reserves?
🔹 Insured U.S. banks hold the largest share
🌍 Foreign banks’ U.S. branches come next
🤝 Credit unions hold only a small slice
veridelisi.substack.com/p/who-holds-...
🔹 Insured U.S. banks hold the largest share
🌍 Foreign banks’ U.S. branches come next
🤝 Credit unions hold only a small slice
veridelisi.substack.com/p/who-holds-...
December 16, 2025 at 6:05 PM
🏦 Who actually holds Fed reserves?
🔹 Insured U.S. banks hold the largest share
🌍 Foreign banks’ U.S. branches come next
🤝 Credit unions hold only a small slice
veridelisi.substack.com/p/who-holds-...
🔹 Insured U.S. banks hold the largest share
🌍 Foreign banks’ U.S. branches come next
🤝 Credit unions hold only a small slice
veridelisi.substack.com/p/who-holds-...
Number of 🏦: 4,452
Total reserves: 1,772,647,048,000
The distribution tells a simple story:
• The top 10 banks hold a massive share
• The top 20 dominate even more
• By the top 50, most reserves are already concentrated
Total reserves: 1,772,647,048,000
The distribution tells a simple story:
• The top 10 banks hold a massive share
• The top 20 dominate even more
• By the top 50, most reserves are already concentrated
December 15, 2025 at 5:08 PM
Number of 🏦: 4,452
Total reserves: 1,772,647,048,000
The distribution tells a simple story:
• The top 10 banks hold a massive share
• The top 20 dominate even more
• By the top 50, most reserves are already concentrated
Total reserves: 1,772,647,048,000
The distribution tells a simple story:
• The top 10 banks hold a massive share
• The top 20 dominate even more
• By the top 50, most reserves are already concentrated
FHLB: The Secret Star of the U.S. Monetary System?
Three Core Functions of the FHLB in U.S. Monetary System
veridelisi.substack.com/p/fhbl-the-s...
Three Core Functions of the FHLB in U.S. Monetary System
veridelisi.substack.com/p/fhbl-the-s...
FHLB: The Secret Star of the U.S. Monetary System?
FHLB: The Secret Star of the U.S. Monetary System? Three Core Functions of the FHLB in U.S. Monetary System
veridelisi.substack.com
December 12, 2025 at 3:44 PM
FHLB: The Secret Star of the U.S. Monetary System?
Three Core Functions of the FHLB in U.S. Monetary System
veridelisi.substack.com/p/fhbl-the-s...
Three Core Functions of the FHLB in U.S. Monetary System
veridelisi.substack.com/p/fhbl-the-s...
Reposted by veridelisi
This is a must listen to anyone interested in Demand-driven reserve supply system
December 12, 2025 at 2:42 PM
This is a must listen to anyone interested in Demand-driven reserve supply system
The Fed cut rates. Here’s the new money market corridor.
December 12, 2025 at 2:35 PM
The Fed cut rates. Here’s the new money market corridor.
📉Since 2021, the Fed’s ON RRP has undergone a regime shift:
• “Others” (MMFs) exploded to ~$2.4T in 2022
• Then collapsed as QT, TGA drawdowns, and bill supply re-routed cash
• Foreign official & international accounts stayed remarkably stable
🧵👇
• “Others” (MMFs) exploded to ~$2.4T in 2022
• Then collapsed as QT, TGA drawdowns, and bill supply re-routed cash
• Foreign official & international accounts stayed remarkably stable
🧵👇
December 12, 2025 at 2:03 PM
📉Since 2021, the Fed’s ON RRP has undergone a regime shift:
• “Others” (MMFs) exploded to ~$2.4T in 2022
• Then collapsed as QT, TGA drawdowns, and bill supply re-routed cash
• Foreign official & international accounts stayed remarkably stable
🧵👇
• “Others” (MMFs) exploded to ~$2.4T in 2022
• Then collapsed as QT, TGA drawdowns, and bill supply re-routed cash
• Foreign official & international accounts stayed remarkably stable
🧵👇
Reposted by veridelisi
Super interesting!
"Financial integration and the transmission of monetary policy in the euro area" by João B. Duarte and Mariana N. Pires.
www.ecb.europa.eu/pub/pdf/scpw...
"Financial integration and the transmission of monetary policy in the euro area" by João B. Duarte and Mariana N. Pires.
www.ecb.europa.eu/pub/pdf/scpw...
December 12, 2025 at 1:18 PM
Super interesting!
"Financial integration and the transmission of monetary policy in the euro area" by João B. Duarte and Mariana N. Pires.
www.ecb.europa.eu/pub/pdf/scpw...
"Financial integration and the transmission of monetary policy in the euro area" by João B. Duarte and Mariana N. Pires.
www.ecb.europa.eu/pub/pdf/scpw...
📊💵 U.S. Banking System Reserves — Who Holds the Power?
Top 20 U.S. banks by reserve balances at the Fed — and the concentration is wild:
🏦 Citibank alone holds 10.46% of system reserves
🏦 BoA + Wells Fargo push the top-3 above 27%
🔒 Reserve holdings are highly concentrated in a handful of giants
Top 20 U.S. banks by reserve balances at the Fed — and the concentration is wild:
🏦 Citibank alone holds 10.46% of system reserves
🏦 BoA + Wells Fargo push the top-3 above 27%
🔒 Reserve holdings are highly concentrated in a handful of giants
December 10, 2025 at 5:15 PM
📊💵 U.S. Banking System Reserves — Who Holds the Power?
Top 20 U.S. banks by reserve balances at the Fed — and the concentration is wild:
🏦 Citibank alone holds 10.46% of system reserves
🏦 BoA + Wells Fargo push the top-3 above 27%
🔒 Reserve holdings are highly concentrated in a handful of giants
Top 20 U.S. banks by reserve balances at the Fed — and the concentration is wild:
🏦 Citibank alone holds 10.46% of system reserves
🏦 BoA + Wells Fargo push the top-3 above 27%
🔒 Reserve holdings are highly concentrated in a handful of giants
Who Owns the Gold in New York?
Beneath Manhattan lies 6,331 tons of sovereign gold.
Most of it doesn’t belong to the U.S.
Why has the world stored its wealth under Liberty Street for 100 years?
New research out soon on @VeriDelisi 📊🔑💰
veridelisi.substack.com/p/who-really...
Beneath Manhattan lies 6,331 tons of sovereign gold.
Most of it doesn’t belong to the U.S.
Why has the world stored its wealth under Liberty Street for 100 years?
New research out soon on @VeriDelisi 📊🔑💰
veridelisi.substack.com/p/who-really...
December 9, 2025 at 3:00 PM
Who Owns the Gold in New York?
Beneath Manhattan lies 6,331 tons of sovereign gold.
Most of it doesn’t belong to the U.S.
Why has the world stored its wealth under Liberty Street for 100 years?
New research out soon on @VeriDelisi 📊🔑💰
veridelisi.substack.com/p/who-really...
Beneath Manhattan lies 6,331 tons of sovereign gold.
Most of it doesn’t belong to the U.S.
Why has the world stored its wealth under Liberty Street for 100 years?
New research out soon on @VeriDelisi 📊🔑💰
veridelisi.substack.com/p/who-really...
The world’s 🧈🧈🧈🧈 under Wall Street.
Not America’s gold.
Almost nobody knows.
Stay tuned on veridelisi.substack.com. 👀
Not America’s gold.
Almost nobody knows.
Stay tuned on veridelisi.substack.com. 👀
December 8, 2025 at 7:54 PM
The world’s 🧈🧈🧈🧈 under Wall Street.
Not America’s gold.
Almost nobody knows.
Stay tuned on veridelisi.substack.com. 👀
Not America’s gold.
Almost nobody knows.
Stay tuned on veridelisi.substack.com. 👀