Don Quijones: Consumers Stubbornly Cling to Cash, after Multiple IT Fiascos & Payment Systems Outages
More consumer pushback in the war on cash: An industry dogged by non-believers who fret about privacy and fraud.
Read more...Category Archives: Payment system
Cryptocurrencies Are Lousy Investments
A skeptical look at the prospects for cryptocurrencies.
Read more...The Battle for Money Has Begun
Why the current fights over money, banking, and Modern Monetary Theory look like new ways to achieve bad neoliberal ends.
Read more...A Hard Look at the Mini-BOT, the Parallel Currency Idea of Italy’s New Ruling Coalition
The mini-BOT has only been sketched out at a high level. How might it work and more important, would it succeed as a parallel currency?
Read more...Jim Chanos on Fraud: “Cryptocurrency Is a Security Speculation Game Masquerading as a Technological Breakthrough”
The legendary short seller Jim Chanos in a wide-ranging discussion of financial frauds, starting with cryptocurrencies: Bitcoin is the last thing he’d want to own in the event of a catastrophe.
Read more...Don Quijones: Visa Goes Down in the UK, Chaos Ensues, Cash is Suddenly King
War on Cash suffers setback: Visa payments system crashes in the UK– one of the world’s most cashless economies– forcing people to ATMs to withdraw cash to settle transactions.
Read more...Cryptocurrencies’ Challenge to Central Banks
The risks of introducing a central bank digital currency are high while the efficiency gains do not seem large. A more efficient system can be achieved via innovation in current payment infrastructure.
Read more...TSB Are Using Their Own Customers to Alpha Test Their New IT Platform
The mess at TSB is even worse that the press would have you believe.
Read more...TSB Train Wreck: Massive Bank IT Failure Going into Fifth Day; Customers Locked Out of Accounts, Getting Into Other People’s Accounts, Getting Bogus Data
An epic IT disaster at the UK’s TSB illustrates how fragile banking systems are.
Read more...Disruptive Finance Huffing and Puffing Won’t Blow Big Bank Houses Down
Why newfangled finance will not have much impact on the banking industry.
Read more...Michael Hudson: Origins of Money and Interest: Palatial Credit, Not Barter
A deep dive into the origins of credit and money, along with the political implications of different theories.
Read more...Wolf Richter: Collapse of Cryptocurrencies in Q1 – Even the Biggest Crashed 67% to 88%
Cyrptocurrencies’ wild ride is looking more and more like a skydive with no parachute.
Read more...Bank Enthusiasm for Blockchain Waning
Blockchain hype is finally meeting commercial realities.
Read more...Over One Fifth of Student Borrowers Used Loans to Gamble on Cryptocurrencies
A new category of cryptocurrency sucker, and even worse, leveraged traders to boot.
Read more...Wall Street Journal Hyping Amazon Banking: “Ridiculous, Ridiculous, Ridiculous”
The Wall Street Journal gets itself duped into publishing some particularly flaky, um, nebulous, um, aspirational Amazon banking ideas.
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