Exchange Invest 2398 Weekend Edition: BoJo Goes, Bourses Grow
4 day US week so slow markets. Here’s a diverse selection of fascinating reading from the UK to Ukraine plus a gripping crypto heist story.
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On this day in 1947, the engagement of Britain’s Princess Elizabeth to Lt. Philip Mountbatten was announced.
From Exchange Invest 2387: 8th, July 2022: Friday
So here’s the rub about the departing Boris Johnson as UK Prime Minister. He flunked an epic mandate and turned his Conservative government into a nanny state left wing shambles. On the plus side he managed a remarkably coherent Brexit deal despite the entire British establishment being against it and indeed the template for agreement being written by the 100% incapable Theresa May.
However that brief Brexit outbreak of government alongside an election win of epic proportions was all BoJo could achieve. His Covid management was a travesty of giving in to a wilfully damaging to the population blob and everything else involved his “pro cake, pro eating it” dictum AKA lots of spending…
Ultimately poor execution, an abandonment of Conservative principles and a lack of an established base in the party killed the BoJo era, aided and abetted by a very vicious campaign from his former guru figure Dominic Cummings.
The race is now on to replace him and the war of words is….hilarious.
The remoaner loonies (putting it politely) who were rendered deranged by Brexit are back out displaying their ‘BDS’ such as Lord Heseltine (a one time credible politician who has immolated his reputation on the EU altar). “If only we tack back to the EU, everything will be all right” is their, simply bonkers, misreading of the UK political situation.
The realpolitik is, presuming the Conservatives find an even vaguely coherent new leader (good options likely to be migrants from the sub continent BTW, albeit that cadre includes dire options such as the discredited former Finance Minister, Rishi Sunak). I have no idea who wins: There are a series of feasible candidates despite the current government being a shambles. Sticking with Brexit and pushing back credibly on the Belfast Congo disaster that Mrs May empowered the EU to create will see a big resurgence and more than likely another Tory victory.
Why the confidence in the Conservatives? Not through any loyalty, just the simple observation — after a total shambles the Tories mid term trail Labour by 7%. At this sort of stage when Mrs Thatcher was executing policy in line with her manifesto, she could be deep in double figure deficits and still defeat the opposition. An outbreak of coherent government can see a new Conservative leader easily lead for another term (the current term runs to January 2025).
Meanwhile Boris Johnson hangs on in caretaker office (perhaps not for long) having misunderstood Britain’s Parliamentary democracy for a Presidential one. Speaking of which, he has strong pro-Ukraine leanings, did well on Brexit, performs well in the media, yet appeals to those with green leanings..and has a US passport. Any chance of BoJo making a reappearance in the USA? Probably more Fox News than the White House but…
NEXT WEEK TUESDAY
Season 12: Episode 06, IPO-VID Livestream 072
Guest: John Kim
Tuesday, July 12th: 1800 UK, 1900 CET, 1300 EST
“John Kim, CBDC & The Future of Money”
John Kim is co-founder, chief strategy officer & general counsel of Movmint, the world’s first retail CBDC in production. In 2020, John — a former partner at Norton Rose Fulbright’s Global Fintech Group — led the team that won the prestigious Central Bank Publication Advisor Of The Year Award for Fintech and Digital Projects. In addition to his role at digital Fiat Works, John teaches at the University of British Columbia School of Law.
Watch the Stream on:
IPO-VID LIVESTREAM PODCAST
Episode 055: “Holistic Renewable Energy & Carbon”
In IPO-VID Episode 055: I was joined by Xpansiv Head of Markets, Henrik Hasselknippe.
Listen to our interesting discussion “Holistic Renewable Energy & Carbon” with Steve Zwick as co-host.
EI WEEKLY PODCAST
MICA is born: the European Union have created crypto regulation
ICE CDS, their CCP is moving to the USA
…and Hong Kong Exchanges make a great Connect leap forward as the LSEG loses another senior staffer.
Victory Or Death
20 years on from the first fintech bestseller “Capital Market Revolution!”… “Victory Or Death” is a must read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
South China Morning Post
“Bitcoin exchanges basically have one job — to keep the cash and crypto sent by users safe — and since the beginning of the industry, they’ve failed at it.”
— Zeke Faux
PLY: An intriguing read.
South China Morning Post
PLY: It is a lovely theory and I hope it proves too that Ukraine’s hyper-corrupt oligarchy can be undone by Putin’s unwanted invasion.
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You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.
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