Excellent Oddlots Podcast with Zoltan Pozsar of Credit Suisse that basically agrees with our Senior Macro guys thoughts, though the Oddlots Podcast fills in the specifics with some of the "psychology" as to why no one is using intra-day facilities of the Fed. And excellent insight on the "There ... but not there ..." Capital Reserves of the banks. But basically, it sort of agreed with our thoughts. The December rate hike was a massive mistake. We have a cash / asset shortage. And as was stated previously ... it's much more serious than "Is this QE"? Way more serious. And it takes time ... for these sort of structural problems to show if there is something laying underneath ...