Category Archives: Currencies

Adult-Child Genius Sam Bankman-Fried Opts for “I’m Hopelessly Stupid and Confused” Defense

Sadly, the press is eating up Sam Bankman-Fried’s not-remotely-credible defense of ignorance and addlebrain (as opposed to Adderall brain)

Michael Hudson Answers Questions on Europe’s Self-Immolation, Fed’s Malpractice, Changing World Order

Michael Hudson covers a wide range of topics, including the decline of Europe, the Fed’s mismanagement, the rise of new economic blocs

Poland’s Coming Economic Collapse: A Story in 8 Tweets

Why Poland is on its way to becoming an economic basket case.

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?

A Quick Note About Additional FTX Sleaze

Some shady FTX behavior that hopefully won’t be lost in the shuffle of new revelations.

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.

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.

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.

Where’s the Contagion from the Crypto Implosion?

Why, if you aren’t in crypto, you can watch the meltdown in comparative comfort.

Sam Bankman-Fried and FTX Were Up to No Good, Including Their Customer Agreement

In the unlikely event you have any doubt, Sam Bankman-Fried and his merry band of FTX rogues look mighty dishonest.

Debunking the Petrodollar Myth: Pricing Oil in Dollars Is Just a Convention

The term petrodollar has come to have talismanic value. Time to instill some reality.

Collateral Damage From Higher Interest Rates

Why to be wary of Larry Summers selling another Volcker-type “kill the economy to save it” interest rate jihad.

Could the Ukraine Conflict Be an Opportunity for the Global South?

Many countries see the Russia challenge to Western economic dominance as an opportunity to rewrite the rules of global trade in their favor.

Stop Worshiping Central Banks

Preoccupied with ‘credibility’ and reputations, central banks are again driving the world into recession, financial turmoil and debt crises.

Satyajit Das: A Disordered World – Part 2: Susceptibilities

Satyajit Das continues his tour of the breakup of the world order, here focusing on financial/economic dislocations and dysfunctional elites