
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.
Where finance and media intersect with reality.

Why shrinking central bank balance sheets is not an option when financialisation quietly drives every incremental unit of GDP.

A bank industry briefing to ECB officials in November last year warned that euro stablecoins may struggle to scale without central bank support.

Legally obligating companies to grant displaced workers equity equal to a year’s salary would spread AI’s windfall, without resorting to UBI.

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.

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.

The Fed’s most ardent dove, Stephen Miran, said he would reverse his December shift toward easier policy if he is still at the Federal Reserve
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