SocGen says:
Societe Generale is a major investment bank, a French multi-national.Clearly when the dollar is declining sharply, global FX intervention accelerates as the Chinese central bank, for example, needs to debauch its own currency at the same rate. Conversely, when the dollar rallies strongly, as is the case now, FX intervention rapidly dries up and can even reverse, exerting a massive monetary tightening on emerging economies and ultimately the entire over-inflated global financial complex...
Liquidity is pricing variability
Grease, short term credit. The ability to shift prices around to meet budget constraints in the firm. It is not there, then firm have to be merged, a contraction.
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