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Money as Addiction

Altered States of Monetary Consciousness • 864 implied HN points • 15 Mar 24
💰 Finance Monetary Systems Economic History Currency
  1. Addiction can distort our sense of agency, making us act out of instinct rather than choice.
  2. Solutionism creates a narrative that presents our dependencies as voluntary choices, leading to a cycle of justification for those dependencies.
  3. Monetary systems, like addiction, can create a state of involuntary dependence presented as a state of voluntary choice, reshaping our societies and individual lives.

Saturday Commentary and Review #154

Fisted by Foucault • 323 implied HN points • 11 Feb 24
🌍 World Politics Geopolitics Censorship Currency Global Markets Political Influence
  1. Poland experienced challenges with judicial reform and resistance to western liberal mandates.
  2. There is a shift towards illiberal methods in the name of defending democracy, exemplified by actions in Poland and Germany.
  3. Efforts to de-dollarize economies like China's seek to strengthen financial security and reduce vulnerabilities in the global economic system.

Can the EU Squeeze Hungary?

The Overshoot • 235 implied HN points • 31 Jan 24
🌍 World Politics EU Financial system Currency
  1. European leaders are exploring financial warfare against Hungary due to obstruction over aid to Ukraine
  2. Inflicting financial pain on Hungary may not work as the country has developed defenses against external pressure
  3. Hungary has had a persistent large current account surplus since the 2008 financial crisis

Could the USD Hyperinflate?

The Informationist • 1592 implied HN points • 07 May 23
💰 Finance Inflation Markets Currency Investments Assets
  1. Hyperinflation is when a currency loses value rapidly due to extreme inflation.
  2. Some currencies have hyperinflated in the past, like those of Yugoslavia, Zimbabwe, and Hungary.
  3. While there is a chance the USD could hyperinflate, it is likely one of the last currencies to do so and owning hard assets can help protect against hyperinflation.
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What is Yi Gang trying to say in his 1st interview after retiring from PBoC?

Pekingnology • 71 implied HN points • 06 Feb 24
🌍 World Politics Economics Monetary Policy Currency Financial history Central Banking
  1. Yi Gang discussed the historical significance of Jiaozi, the first paper money, and its implications for currency policies
  2. He emphasized the importance of competition under constraints for a successful monetary system
  3. Yi Gang highlighted the necessity of establishing and enhancing modern central bank systems to maintain currency stability

BRICS New Development Bank de-dollarizing, adding Argentina, Saudi Arabia, Zimbabwe as members

Geopolitical Economy Report • 797 implied HN points • 09 Jun 23
🌍 World Politics BRICS Currency
  1. The BRICS New Development Bank is de-dollarizing its loans, promoting local currencies, and adding new members like Argentina, Saudi Arabia, and Zimbabwe.
  2. The NDB's goal is to finance infrastructure investments, combat poverty, create jobs, and promote environmentally sustainable development among its members.
  3. The World Bank is controlled by the United States, unlike the NDB, which is a truly multilateral institution without veto power for any single nation.

How The First Reserve Currency Died

The Dollar Endgame • 379 implied HN points • 19 Sep 23
💾 History Currency Global Trade
  1. Reserve currencies have played a vital role in upholding global dominance for empires throughout history by offering a widely accepted medium of exchange, fueling borrowing, spending, and state funding for wars of expansion.
  2. History does not follow a linear path but rather a cyclical pattern, with repeated 80-year cycles known as Fourth Turnings, marked by moments of crisis and upheaval that reshape societies and nations.
  3. The rise and fall of the Dutch Guilder, the first global reserve currency controlled by the Dutch through the powerful United Dutch East India Company, exemplify the dynamics of economic dominance and empire-building in the past.

Endgame #2

The Dollar Endgame • 319 implied HN points • 28 Sep 23
💰 Finance Currency Bonds Market Analysis Economic Impact Government shutdown
  1. Japan is facing challenges with its currency and bond market, with the USD/JPY crossing critical levels and the market pressuring the Yen amidst debt concerns.
  2. The US bond market is experiencing significant turbulence, with record lows in various instruments and rising yields posing challenges for investors.
  3. China is grappling with an economic slowdown fueled by a declining property market and potential need for widespread bailouts, leading to concerns about the country's economic future.

Endgame #1

The Dollar Endgame • 359 implied HN points • 26 Aug 23
💰 Finance Economics Global Markets Currency International Trade Cryptocurrency
  1. Argentina is facing a severe economic crisis with massive currency devaluation and high inflation, but there is hope for stabilization with proposed governmental changes and monetary reforms.
  2. China's property market is experiencing significant challenges, with key real estate firms facing default, worker payment issues, and the country slipping into deflation, raising concerns for a possible global recession.
  3. The BRICS alliance, particularly China and Russia, is strategizing to lessen dollar dominance by expanding membership and discussing possible alternatives, like involving major oil exporters and establishing a new reserve currency, amidst complexities and challenges in implementing such changes.

Why I Bitcoin

QTR’s Fringe Finance • 41 implied HN points • 04 Feb 24
💰 Finance Bitcoin Investment Currency Regulation
  1. Understanding Bitcoin's network and cryptography is key to realizing its intrinsic value.
  2. Bitcoin presents a unique opportunity for diversifying wealth outside the traditional monetary system.
  3. Bitcoin's potential for global adoption and decentralized nature make it a compelling investment option.

NY Times is wrong on dedollarization: Economist Michael Hudson debunks Paul Krugman's dollar defense

Geopolitical Economy Report • 518 implied HN points • 16 May 23
🌍 World Politics Geopolitics Currency International Trade Global Markets US Hegemony
  1. Economist Michael Hudson debunks Paul Krugman's arguments on de-dollarization, highlighting historical economic misconceptions by Krugman.
  2. Krugman dismisses the importance of controlling the world's reserve currency, arguing it's overrated, but fails to address the impact of capital flows on currency values.
  3. Krugman's defense of the US dollar relies on tautological reasoning, stating the dollar is powerful because it's widely used, without acknowledging geopolitical shifts away from the dollar.

A Tale of Two Currencies

BowTiedMara - Geoarbitrage & Mobility Assets • 137 implied HN points • 24 Apr 23
🌍 World Politics Currency Inflation Monetary Policy Central Bank Financial Crisis
  1. Argentina has a history of economic turmoil with multiple currency crises and hyperinflations.
  2. The government deficit in Argentina has grown significantly since 2011, leading to economic challenges.
  3. Potential solutions for Argentina's economic crisis include complete dollarization, adopting a Bitcoin standard, or exploring joint currencies with other countries like China.

The Gold Standard Is Back: BRICS To Intro Gold-Backed Reserve Currency

QTR’s Fringe Finance • 28 implied HN points • 10 Jul 23
💰 Finance Currency De-dollarization Global Trade
  1. BRICS countries are planning to introduce a gold-backed reserve currency, challenging the US dollar's dominance.
  2. The move could lead to a devaluation of fiat currencies and pose a shock to the global fiat money system.
  3. This announcement is part of a larger plan to de-dollarize and shift away from the US dollar as the world's global reserve currency.

Introducing: Klima the world's first carbon currency

Activist Futurism • 39 implied HN points • 14 Sep 21
🔮 Crypto Environmental Activism Currency Blockchain Decentralized
  1. Klima is the world's first carbon currency, backed by carbon offsets and incentivizing the absorption of carbon.
  2. KlimaDAO aims to build a monetary system that prices in carbon, rewarding pro-climate actions.
  3. Activists and supporters of transformative social change are now being drawn into the world of crypto through the introduction of Klima, the 'apex of environmental activism'.

Will gold pave the yellow BRICS road?

The Informationist • 4 HN points • 09 Jul 23
💰 Finance Global Economy Currency Gold Debt
  1. BRICS nations are considering introducing a gold-backed currency to reduce dependency on the US dollar.
  2. The US has deviated from the gold standard, leading to concerns about debt levels and potential economic implications.
  3. For the gold-backed currency to work, BRICS nations would need to establish trust and a system that ensures the currency is fully redeemable for gold, potentially impacting the global financial landscape.

Alert: Central Bank of Nigeria Circular COD/DIR/INT/CIR/001/002

RegAlert • 0 implied HN points • 20 Apr 21
💰 Finance Regulations Currency Banking
  1. Financial institutions in Nigeria must accept old and lower denominations of United States Dollars as legal tender or face sanctions.
  2. Authorized forex dealers are advised to avoid defacing or stamping US Dollar banknotes to preserve their authenticity.
  3. The Central Bank of Nigeria Circular COD/DIR/INT/CIR/001/002 provides details on the rejection of old/lower denominations of USD by DMBs and FOREX dealers.

Alert: Central Bank of Nigeria Circular COD/DIR/INT/INM/003/042

RegAlert • 0 implied HN points • 14 Mar 22
💰 Finance Banking Regulations Currency
  1. The circular outlines guidelines for the Bank Neutral Cash Hub (BNCH) in Nigeria, which offers cash services to high volume/value customers to reduce risk and costs related to currency management.
  2. The purpose of the BNCH is to provide bank-neutral cash withdrawal and deposit services, aiming to enhance the efficiency and security of cash transactions.
  3. Feedback and inquiries regarding the operational guidelines for the BNCH should be directed to the Director, Currency Operations Department, Central Bank of Nigeria.

What’s a Bitcoin worth?

Joshua Gans' Newsletter • 0 implied HN points • 20 Dec 17
💰 Finance Bitcoin Value Currency Investment Economics
  1. Bitcoin's value is subjective and relies on what people believe it's worth, creating uncertainty in determining its true value.
  2. Theories suggest Bitcoin could replace gold as a store of value and possibly reach a value of $47,755 or $38,000 per Bitcoin if it were to happen.
  3. Another theory proposes Bitcoin as a USD substitute, potentially reaching a value of $100,000 per Bitcoin if it becomes the world's reserve currency.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/006

RegAlert • 0 implied HN points • 10 Aug 23
💰 Finance Regulation Banking Currency
  1. Financial institutions in Nigeria must offer a payout option in Naira for diaspora remittances within specific rate limits.
  2. The allowable limit for the payout option is set at -2.5% to +2.5% of the previous day's Investors' and Exporters' Window average rate.
  3. All banks and International Money Transfer Operators are required to comply with these rate limits for diaspora remittances in Nigeria.

MANIFESTO

Erasmus’s Newsletter • 0 implied HN points • 08 Apr 23
💰 Finance Bitcoin Currency Economy Adoption Corporate
  1. Bitcoin has a built-in path to $1 million and beyond, presenting a strong case for becoming the world's reserve currency.
  2. Corporate adoption is crucial for Bitcoin's widespread acceptance and transition into a global reserve currency.
  3. Bitcoin 2.0 introduces the SAT as a currency, aiming to disrupt the current monetary system and address key issues like inflation and currency value.

Alert: Central Bank of Nigeria Circular TED/FEM/FPC/GEN/001/003

RegAlert • 0 implied HN points • 01 Feb 24
💰 Finance Regulation Currency Banking
  1. The Central Bank of Nigeria has removed the allowable limit of exchange rate quoted by International Money Transfer Operators (IMTOs), allowing them to quote rates based on prevailing market rates.
  2. IMTOs can now quote exchange rates for naira payout to beneficiaries on a willing seller, willing buyer basis, as per the latest circular.
  3. This circular supersedes the previous one which had set an allowable limit of -2.5% to +2.5% around the previous day's closing rate of the Nigerian Foreign Exchange Market.