Things That Make You Go HMMM

A Walk Around The Fringes Of Finance

Grant Williams, Things that make you go HmmmMuch to his chagrin, Grant Williams has reached 30 years in finance.

Over that period, he has held senior positions at a number of investment banks and brokers in locations as diverse as London, Tokyo, New York, Hong Kong, Sydney and Singapore.

Grant is portfolio and strategy advisor to Vulpes Investment Management in Singapore and also one of the founders of Real Vision Television — an online, on-demand finance channel showcasing the brightest minds in finance.

A regular speaker at investment conferences across the globe, Grant blends history and humour with keen financial insight to produce unique presentations which have been enthusiastically received by audiences everywhere.

From humble beginnings in 2009, Things That Make You Go Hmmm... has grown to become one of the most popular and widely-read financial publications in the world.

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The talk, since central banks put their shoulders behind the wheel in 2009, has been of “historically low interest rates” and “once in 5,000 years” events but, as you can see, the only true outlier in this 5,000 year chart were the high rates of the 1970s and 1980s.

And, while contrary to popular wisdom, we HAVE been here before, it was immediately prior to the one true aberration in 5,000 years of interest rate history.

Mankind needs access to credit to be able to fuel economic growth and that buildup of credit saw its apogee in 1930 when the central bank reaction to the Great Depression saw short-term rates plummet to the zero bound briefly as the edifice of leverage upon which the blowoff of the Roaring 20s was founded, collapsed.

The reaction? Well of course an extreme swing of the pendulum in the opposite direction... Read more