The subjects this post names, from the same vocabulary
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this is all about support for the ongoing Israeli campaign of ethnic cleansing and genocide, which continues with daily slaughter of civilians and demolitions of their homes and communities in Gaza, the West Bank, and now southern Lebanon.
In the 70s and 80s, Japanese companies could get cheap plentiful bank loans to develop new products and explore new markets. Today, they can't. Innovation is downstream of finance.
The debt dynamics work the same for a central government as they do for a person or a company, except that a central government has a central bank that can print money (which devalues it) and it can take money away from people via taxes.
Many startups are racing to create foundational world models, but I think the first ones to succeed will likely be the platforms in control of this data bank.
Ghostman by Roger Hobbs is a crime thriller about robbing a Malaysian bank and an Atlantic City casino. Riveting characters. A gut-punch of a story. I love a good heist, and this one is bristling with technical details that make you wonder whether the author has some secrets of his own.
For much more on that side of things, you should read Money Stuff or listen to Odd Lots, which cover “private credit is the new bank lending” all the time.
For much more on that side of things, you should read Money Stuff or listen to Odd Lots, which cover “private credit is the new bank lending” all the time.
Almost all discussions of it center on “data”, but it’s actually a fight about payments, and whether banks have a right to monopolize and charge for all economic activity their users engage in, irrespective of whether the bank operates the payment method.
You know, in the banking business, the character the clients you have will reflect in your bank. So, the first thing is who you're doing business with, how you're doing business
But they they both had something something unique that we didn't know at the time. I'm going to call them concentrated deposits. Not uninsured cuz people are misstating that, concentrated.
And so, I always look what I call the fat tails and manage that we can handle all the all the fat tails. And not the stress test the Fed gives us, but all the fat tails.
So, you while we kind of saved the system a lot, we bailed a lot of people out, they made us pay 5 billion dollars on the more the bad mortgages that Bear Stearns had done. And that's what made me make the statement I wouldn't do it again.
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