How quickly are negative nominal interest rates self-correcting? Izabella Kaminska at the FT serves up part of an answer here:
Yet, in a globalised FX market, it’s arguably not until all carry is exhausted that excess funds can lead to a commodity-style liquidation effect that corrects the price of money against a basket of goods and services, by means of actual consumption.
Quick: true, false, or uncertain? Show your work. The rest of the post will make your head hurt, in the best sense of course.
Via Craig Richardson, here is a story about a parmesan cheese bank.