Big Banks Must Become Globally Resolvable – or Significantly ‘Smaller’
Sadly, coming up with a way to resolve big international banks is a non-starter. The answer is very strict regulation. But that would be work.
Read more...Category Archives: Payment system
Banks Try to Make Security Customer-Friendly. Not a Good Mix.
Retail bank security ain’t all it’s cracked up to be.
Read more...Crypto Bank Silvergate to Shut Down and Liquidate, After FDIC Examiners Show Up. Shares Collapse Entirely
Silvergate: In 16 months from $239 at peak crypto consensual hallucination to $2.76, including the 44% plunge afterhours.
Read more...New York Fed Identifies a New Way Dollar Hegemony Is Not Good for Emerging Economies and Other Growing Things
Another mechanism by which US does harm through our indifference to to the impact of our dollar/interest rate policies on other countries.
Read more...Michael Hudson and Radhika Desai on Dollar Imperialism
A deep dive on the development of the dollar system.
Read more...The Gold Standard
A primer on the gold standard, including a discussion of its implications.
Read more...Crypto-Focused Silvergate Bank Got De Facto Backdoor FDIC Bailout via $4.3 Billion Federal Home Loan Bank Advance
More crypto chicanery! How crypto-focused bank Silvergate got a very big ticket rescue from a quasii-government mortgage banker’s bank.
Read more...The 2022 Globie: Money and Empire – Perry Mehrling on Charles Kindleberger
Perry Merhling’s recent book on Charles Kindleberger finds he had prescient beliefs about the need for a prudent international money minder.
Read more...Dethroning the Dollar: What Governments Propose, IT Disposes
Why the road away from the dollar will have many twists and turns.
Read more...Dethroning the Dollar: Why the Alternatives Are Not Ready for Prime Time
Why the dollar’s demise is not around the corner.
Read more...Key Institutional Crypto Player, Genesis, on Verge of Failure; Possibility of “Apocalyptic” Bitcoin Liquidation
Genesis, another key block in the crypto Jenga tower, looks like it is about to be removed from the game. What might fall down as a result?
Read more...A Quick Note About Additional FTX Sleaze
Some shady FTX behavior that hopefully won’t be lost in the shuffle of new revelations.
Read more...The Only Crypto Story You Need? A Response to Matt Levine’s The Crypto Story
A wide-ranging discussion of why defenses of crypto don’t stand up to scrutiny.
Read more...FTX: New Ex-Enron CEO Finds “Complete Absence of Trustworthy Financial Information,” $3.3 Billion Loans to SBF, Customer Deposits Not Recorded on Balance Sheets; Confirms Software Backdoors, Auto-Deleted Communications
FTX is an even bigger mess than someone with a creative streak might have imagined.
Read more...Not Every Robin = Spring and Not Every Story About Moving Away from the Dollar Is Well Founded
A small illustration of why some of the stories about reducing dollar dependence are misguided.
Read more...