Chris Hedges and Leo Panitch: We are All Greeks Now
Leo Panitch and Chris Hedges discuss how nature of imperialism today is financial power.
Read more...Category Archives: Payment system
More on Why Bank IT and Payment Systems Matter
The IT challenges of a Grexit are important not only in and of themselves, but as a window into the creaky state of bank IT and the systemic risk it poses.
Read more...Perry Mehrling: No One Has a Good Idea of How to Keep the Fed From Having to Rescue Mr. Market Again
Perry Mehrling’s post on the Fed’s progress in dealing with future market crises is damning, despite its “give everyone credit for what they have done” recap.
Read more...More on the Systemic Risk of Bank IT Systems
Why financial firm IT is a bigger and more imminent source of systemic risk than you might think.
Read more...Greece’s Drachma Drama: Why Planning Is Too Important to be Left to Economists
In conference call with hedgies, Yanis Varoufakis claims to have had approval to plan a parallel banking system using the drachma: Plan B.
Read more...Mario Draghi: The ECB Has No Mandate To Ensure Checks Clear Or Credit Cards Work
By Nathan Tankus, a writer from New York City. Follow him on Twitter at @NathanTankus Last week Mario Draghi held a press conference following the decision to raise ELA a paltry 900 million dollars for Greek banks. In that press conference he said many things but I’d like to focus on one passage that has gotten […]
Read more...Once Again on the IT Challenges in Converting to the Drachma
Why the left is not doing itself, or the Greek people, any favors by minimizing the difficulties in converting to the drachma.
Read more...Bank IT, Grexit, and Systemic Risk
Why bank IT is more of a mess than you possibly imagined, and why that matters.
Read more...Greece Should Beware of Merchant Services Providers Bearing DDCs
Solving the mystery of how a hotel guest’s bill in Greece came to be (briefly) denominated in drachmas.
Read more...Perry Mehrling: China’s Rocky Road Ahead, Financial Liberalization versus Financial Stability
Will China’s renminbi transition smoothly to reserve currency status, or not? And should it?
Read more...Grexit: Your Humble Guest Writer Talks to YSI INET
Nathan Tankus talks to YSI INET about a Grexit and Greece
Read more...The Card System, Demystified, and Implications for Re-Introducing Drachma
A detailed explainer on how card systems work and what the impact of a drachma re-introduction would be for them.
Read more...My Big Fat Greek Bank Black Hole: No Deposit Insurance
It’s hard to find an official who is comporting himself very well in the wake of the Tsipras surprise announcement of a referendum on July 5 for a then-defunct bailout offer.
Read more...Scotland: the Moldovan Connection
How modest homes in some of Scotland’s poorest areas became prolific ‘company factories’, and how those companies were used in a giant Moldovan bank fraud
Read more...The Operational Issues of a Grexit Part Two: Organizational Capacity, Capital Controls and Bootstrapping a New Monetary System
Economics, law and politics are all crucial to the story of Greece, but in the moment of default or Grexit they take a back seat to something far more important: organizational capacity.
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