Prepare for the return of certainty and capital intensity
Subscriber note: Reminder that we are now also operating on Substack. The details of the new plans are here. If you’re anything like me, you’re probably drowning in information overflow; overwhelmed by frictionless influencers vying for your attention; disoriented by the relentless pace of life; ready to throw up at the prospect of opening your […]
‘Oil on the water’ is now a key market indicator
Record volumes of crude are now at sea, all searching for a home. The question isn’t just who will buy those sums — but at what price. China, for now, is backing away.
We’ve got holiday merch!
Check out our new store for seasonal gifts and more.
Cash Equivalence rebrand
Our stablecoin pop up will now be known as The Peg.
The Weekly Peg: The Lugano download (3/3)
Tether news: Stablecoins can boost US dollar hegemony, Tether CEO says. TLDR: CEO Paolo Ardoino on how and why Tether, the world’s largest stablecoin issuer, has become an unexpected ally of the U.S. Treasury. Facts and stats: Tether now holds about $181 billion in reserves of which $135 billion is in U.S. Treasuries, a number […]
The Weekly Peg: The end of usury? (2/3)
Will stablecoins initiate a new era of (biblically compliant) zero-interest finance, or are workarounds already in the making?
The positive-sum game theory in the Trumpian crypto grift
Sometimes it’s better the devil you know.
The Weekly Peg: Stablecoin crackdowns (1/3)
EU targets Russia’s A7A5, ESRB calls for bans, plus lots of chart porn.
From stablecoins to ‘stabilization fund-like mechanisms’
Perhaps there’s a reason why James Bond has a license to gamble with Treasury money in Casino Royale?
The Weekly Peg: Regulators strike back
The FSB raises the alarm over stablecoin asset concentration at the very short end of the yield curve and the potential for stablecoins to trigger market disruptions.