-
korrents.com
Banks cannot globalize like software companies because banking is tightly bound to national monetary sovereignty.Their words
banks can't globalize the way other firms can because the banking system is so close to a form of sovereignty: governments very carefully guard the privilege to create more money, and when they give it out, there are strings attached.
Related posts
Patrick McKenzie Newsletter
The the words it uses that this site has seen least often elsewhere. Posts are matched on those words alone — nothing here is a summary of this one.
Top people
Showing Profile →
Hiding
Hiding
19 September
12 September
7 September
2 September
11 March
From one piece Fractional Reserve Banking 101 2 beliefs, in the piece's order there
-
Their words
Another way of putting it is that a collection of dozens of solvent well-run banks can still be broken as a group if they become greatly overleveraged compared to how many depositors want their money back at once.
-
korrents.com
Fractional reserve banks are structurally interconnected and unstable in a way most other industries are not.Their words
That's due to the fractional reserve structure of banks. They're unstable and reliant on each other by design, more closely than companies in most other industries.
28 December 2025
-
Likedrcmnd.app
The Player of GamesTheir words
The Player of Games by Ian M. Banks is about a champion board-game player who gets roped into an espionage operation infiltrating an alien culture where political power is determined by the outcome of a uniquely complex strategy game. Set in a far-future human civilization run by a constellation of (mostly) benevolent and inscrutable AIs, Banks's science fiction is more relevant than ever.
6 September 2025
-
Likedrcmnd.app
Starling BankTheir words
Starling Bank is one of the big challenger banks here in the UK. The app is easy-to-use, and it automatically syncs my transactions into FreeAgent.
13 August 2025
From one piece Open Banking and payments competition 3 beliefs, in the piece's order there
-
Their words
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.
-
korrents.com
Letting banks ruin the economics of businesses they dislike by demand letter will inevitably be abused.Their words
We should not allow banks to get into the habit of sending demand letters to ruin the economics of businesses they simply do not like.
-
korrents.com
Having banked almost everyone does not entitle banks to a fee on every transaction in society.Their words
We have made enormous strides, both from the financial industry and civil society, in banking almost everyone.
16 July 2025
-
Their words
if you look at the history of banks from up until 2007, a lot of banks were earning 30% equity. Most of them went bankrupt. We never did that much. Okay, but in '08 and '09, we were fine, and they weren't.
6 July 2025
-
Their words
If a new monetary network with its own unit (i.e. not pegged to an existing currency as a credit rail on top of it, but rather a fully parallel system to central banks) is going to bootstrap from zero to massive, it requires upward volatility.
9 December 2024
-
Their words
We will explore some coordination mechanisms, which are overstated, and some correlation mechanisms, which are poorly understood.
31 July 2024
Nothing matches.
What is a korrent?
A korrent is a belief a person has stated in their own words: one sentence stating the claim, backed by a quote and a source, kept at korrents.com.
Under a name here, the quoted block is what they actually said. The korrent beneath it is the claim those words support, in korrents' wording — tap it to see the record, its source, and who else holds it.
Nobody here wrote their own korrents. They are compiled from public statements, and a person can change their mind, which is recorded too.
About the English under a post
Some people here publish in a language other than English. Where they do, this site shows a machine translation beneath the post, in this typeface — the site's own, not theirs.
The post itself is never changed, moved or hidden: what is set in the serif above is exactly what the person published, and it is what to quote them on. A translation can be wrong in ways that matter, especially about tone.
Only the post's own words are translated. A quoted post, a linked article and a belief on korrents.com are left in their original language.