IMF Chief Christine Lagarde Calls for Digital Currencies, But We Need to Go Further
As the minister in charge of France’s economic policy in 2008, Christine Lagarde is no stranger to financial crises. During the 2008 Financial Crises, she described her encounter with her then U.S. counterpart, Treasury Secretary Henry “Hank” Paulson when news of the likely insolvency of Lehman Brothers, one of the world’s largest investment banks at the time, as, “It’s like a tsunami was coming and we were discussing what bathing suit to wear.”
- 18/11/2018
- 4
Conventions & Cryptocurrencies
The institutions of American governance are curious in their reliance on convention. Which is all fine and dandy when you consider that conventional mindsets and more importantly, conventional minds prevail. But throw a spanner in the works and its easy to see how quickly and easily these conventions can thrown by the wayside. Take for instance a presidential candidate’s release of their tax returns — it’s not the law, it’s a convention. And the independence of the Federal Reserve from the Administration? A convention as well. So it should have come as no surprise that exactly one month ago, President Donald Trump railed against the Fed that the Fed had gone “crazy” by tightening monetary policy.
- 16/11/2018
- 5
Are Cryptocurrencies Getting Weaker or is the Dollar Getting Stronger?
If you were in stocks in October, the rout in tech stocks and the overall malaise would have had you reaching for your pumpkin spice fix. And amidst the sharp drops in oil and European stocks, the dollar continued to ascend its peak for this year. Investors have ignored fiat currencies at their peril since the dollar started its slow ascent in April, around the time when cryptocurrencies also started their long slide, like an old man getting into a warm bath, even the new digital asset class was not spared global economic shifts.
- 15/11/2018
- 2
Big Tech is Coming for Fintech & Why Decentralization is More Urgent Than Ever
While all the attention has been on how the world of finance would be disrupted by cryptocurrencies, the 800-pound gorilla in the room has been moving unnoticed. With companies such as Amazon dominating everything from the way we shop, to the way we are entertained and the very fabric of the internet (via Amazon Web Services), it would make sense that the tech juggernaut would sweep in on the last remaining bastion of our lives — finance. And in this regard, Amazon is not alone. Amazon, Google, Facebook and Apple have been expanding into payments and other financial services as the tech companies become even more dominant than ever in all aspects of our modern lives.
- 14/11/2018
- 6
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