Foreword/Disclaimer

I originally wrote this piece as part of a much broader essay back in 2018 during the last tightening cycle and things have changed – A LOT – since then. I have had to source this retrospectively from the notes I retained at the time because some of the source material seems to have since disappeared from the internet (though I notice that other writers have since referenced it and so research can be carried out if you have a care to google this information) so, apologies in advance for the rather loose referencing and as always you can feel free to submit questions/leave comments and of course DYOR always applies. I plan to update this in the near future (2022) as we are obviously beginning another tightening cycle and I will add to this piece sometime this year as the situation develops.