Lebanon’s shift hints at long-rumoured, secret de-radicalisation deal in the Middle East
A striking sentiment is emerging on the ground in Lebanon: 20 years of regional political stagnation may have shifted within a few weeks. And it may speak to a greater transformation. One that is secretly reshaping the entire Middle East. I’ve been obsessed with this theory since I first heard of it last year, from […]
A dispatch from Cape Town
I’m writing this from South Africa, where I’ve been spending the past few days at a retreat hosted by Gold Republic alongside a small group of macro thinkers including Brent Johnson, Whitney Baker, John Butler, and Michael Every. It’s been a strange vantage point from which to watch the sudden escalation around Iran — slightly […]
Don’t worry, Gibraltar will never be Spanish
Were it to turn Spanish, it would set off a series of dominoes that could devastate both Spain and Morocco.
SPACES CHAT: Jane Street vs the crypto markets
Below is an AI-assisted summary of today’s wide-ranging Spaces chat on the implications of the Terraform Labs lawsuit against Jane Street, and broader peg-based systems.
Industry warns UK risks digital dollarisation without stablecoin reform
Fintech leaders told MPs that unless the U.K. backs a competitive sterling stablecoin regime, dollar-denominated stablecoins could dominate future payments systems.
Too big to flow: financialisation, fragility and the reserve trap
Why shrinking central bank balance sheets is not an option when financialisation quietly drives every incremental unit of GDP.
Commerzbank warned ECB officials intervention is necessary to cultivate euro-stablecoins
A bank industry briefing to ECB officials in November last year warned that euro stablecoins may struggle to scale without central bank support.
OPINION: Artificial intelligence risks dumb outcomes unless politicians act now
Legally obligating companies to grant displaced workers equity equal to a year’s salary would spread AI’s windfall, without resorting to UBI.
Terra lawsuit frames collapse as a targeted currency attack by Jane Street
The legal complaint against Jane Street offers a provocative new interpretation of the Terra Luna collapse, suggesting insider insight — not just structural flaws — may have driven the depeg.
Digital euros and liquidity backstops won’t dent dollar dominance, says Fed’s Miran
European officials may be warming to the idea of using euro stablecoins as a way to challenge the dollar, but Stephen Miran says the greenback isn’t going anywhere.