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Spotlight on the Libyan conflict: explaining the unexplainable

After 13 years of fighting, the Western hemisphere’s longest-running active conflict remains its most bizarre standoff. And yet, almost everything makes perfect sense. French and American interests supported the rise of a former CIA-asset-turned-warlord, Khalifa Haftar, who battled on the Libyan streets alongside Wagner militias and Emirati Mirage jets against a UN-recognised government backed by […]

Spotlight: What the great neo-medievalisation will look like

In the conduct of states, as in the conduct of individuals, appearances constantly shift while the fundamentals always remain unchanged. One of our recurring Blind Spot themes has been the neo-medievalisation of the world. Originally associated with Hedley Bull since the late 70s, the trend described the globalised world as analogous to high-medieval Europe. In […]

Spotlight on the pre-positioning revolution coming to finance

TLDR: Cbankers’ enthusiastic embrace of prepositioning points to growing acceptance of former BoE governor Lord Mervyn King’s ‘Pawnbroker For All Seasons” model. But some worry it might have grave consequences for free markets. There’s a quiet revolution happening at the heart of central banking, but you wouldn’t necessarily know it. On the surface, the inconspicuous […]

Could Trump use forgotten Chinese debt to salvage the global economy?

As the United States confronts an impending government shutdown amid an unwelcome outbreak of bond vigilantism, an unexpected remedy to global financial implosion might just lie in a murky corner of long forgotten financial history. Dormant for decades, the Blind Spot understands the overlooked issue of defaulted Chinese imperial debt is quietly turning heads on […]

Europe’s wind sector is in a ‘severe crisis’ (POLITICO)

By Victor Jack, Abby Wallace · Aug 18, 2023 BRUSSELS — The U.K. and EU are likely to miss their 2030 wind energy installation targets as the sector runs into increasing difficulties, putting Europe’s green transition at risk. Surging inflation, supply chain bottlenecks, hold-ups in getting permits, problems with government-backed subsidy schemes and mounting competition […]

European financiers fret over US debt ceiling “collateral damage” (POLITICO)

By Ben Munster · May 26, 2023 Panic in Europe? Over a U.S. debt default? Surely not … well, maybe. Just a little. OK, quite a lot, to judge by an awkward exchange at the International Capital Markets Association’s annual bash in Paris on Thursday. “My question,” AXA Investment Management fixed-income chief Hans Stoter told […]

Regulators threaten to rain on Tether’s parade (POLITICO)

By Bjarke Smith-Meyer, Ben Munster · May 19, 2023 BRUSSELS — Few expected Tether, the world’s most prominent stablecoin, to survive the crypto market meltdown. Instead, the issuer of dollar-pegged digital tokens revealed it was thriving by this month posting a first-quarter profit of $1.5 billion that left most of its rivals in its wake. […]

The battle for your savings is JUST beginning (POLITICO)

By Bjarke Smith-Meyer – May 5, 2023 There’s a turf war going on for your savings. At stake are over $16 trillion worth of deposit balances in the European Union alone, vital to banks’ capacity to keep credit flowing to small businesses and individuals. This is especially the case in Europe which relies far more […]

The military-civil fusion at the heart of the new dollar order (POLITICO)

By Izabella Kaminska · Apr 26, 2023, 2:22 PM To read remarks made by a string of treasury officials and central bankers in recent weeks, one thing becomes clear: It’s no longer an exaggeration to suggest the global economic system is heading toward a shift unlike anything since World War II. And what’s more, what’s […]