Satyajit Das

Satyajit Das writes the Das Capital Column in the Independent. He has worked in financial markets for over 35 years, as a banker, a corporate treasurer and now as a consultant to banks, fund managers, governments, companies and regulators around the world. He is also the author of Traders Guns and Money and Extreme Money as well as a number of reference books on derivatives and risk-management, which double as 'door stops'. He became a banker because he wasn't good enough to be a professional cricketer, but would give up finance if anyone offered him a job as a cricket commentator or allowed him to pursue his other passion- wildlife (he is the co-author with Jade Novakovic of In Search of The Pangolin: The Accidental Eco-Tourist). He lives in Sydney, Australia.

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The uncomfortable permanence of these temporary measures

Das Capital: In may be that low interest rates and QE cannot be reversed easily, if at all

In March 2014, at her first press conference, the new chair, Janet Yellen, stated that the Fed would not increase interest rates for a “considerable time”

Satyajit Das: Central banks need to talk a lot less and act a lot more

Das Capital: European central bankers lead the world in policy linguistics

Large movements in oil prices have the potential to create significant financial instability, especially in debt markets

Satyajit Das: The slump in oil prices is fuelling financial instability globally

Das Capital: Revenues have reduced sharply, making it difficult to service debt

The structure of the oil market entails fine margins between demand and supply. The current oversupply is about 2 million barrels a day, less than 2 per cent of global consumption.
A Grexit would allow Greece to regain control of its currency and interest rates

Satyajit Das: Greece has plenty of options. It's just that none of them are good

Das Capital: A Grexit without contagion? It's like Dr Strangelove's belief in survivable nuclear war

Greece fundamentally suffers from lack of revenue
The Swiss National Bank pictured on 15 January, 2015, in Bern, Switzerland
The Swiss National Bank pictured on 15 January, 2015, in Bern, Switzerland

Satyajit Das: Switzerland had to bite the bullet and drop franc ceiling

Das Capital: In reality, the policy was unsustainable in the light of rising currency inflows

From the Saudi perspective, the primary benefit of high oil prices has accrued to non-Opec members

Satyajit Das: For the Saudis, low oil prices are a means of exacting revenge

Das Capital: Up to 80 per cent of shale reserves are uneconomic at prices below $80 a barrel

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