Exchange Invest 2440 Weekend Edition: The Aftermath of Covid

Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.

Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick L Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.

This weekly edition is a magazine of broader macro topics as well as including our free weekly podcast which reviews the highlights of the week in the world’s market structure.

In BigWorld

From Exchange Invest 2438: 26th, August 2022: Thursday

Perhaps the most compelling story in politics right now is the race to the bottom of popularity. Perhaps that is not such a shock given the dearth of talent in government the world over for the past decade or more.

US readers may be shocked to discover that the spectacularly useless Joe Biden (a record breaking trailblazer in US Presidential popularity decline) is not the world leader of worst despite Reuters giving him a 57% disapproval rating. Then again given the White House resembles an abject ‘grown up’ disaster area, -57% sounds almost impressive.

However, after a Cum-Ex hearing where former Hamburg mayor turned incapable Chancellor, Olof Shultz made President Biden look like a Mastermind memory candidate (29 questions were answered ‘he could not remember…’) Germany’s incompetent in chief is now at 62% disapproval. Again, that strikes me as a high water mark.

(Germany’s Scholz Denies Role In Cum-Ex Case Now Haunting Him — Bloomberg Tax)

Other strong runners towards the Mariana Trench of popularity include the former poster child of woke who is now turning totally toxic, New Zealand’s Covid dictator, Jacinda Ardern.


In IPO-VID Episode 062: Patrick L. Young was joined by his namesake, Director for the New Orleans Mayor’s Office of Gun Violence Prevention Patrick M. Young.

Listen and be inspired as “PLY” Meets Patrick Young!

Available in different podcast sources:

Google Podcasts
Apple Podcast


Crypto is dead long live crypto! Goes my argument in an Op-Ed for City A.M.
The FDIC issued a blistering cease and desist crypto warning
…and the New York Stock Exchange half a billion dollar tick tweak

The Exchange Invest Weekly Podcast 158

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.

Available worldwide.

Podcasts This Week

Episode 315: ICE’s Brookly McLaughlin Builds Bridges Between ESG Idealism And ESG Pragmatism
Inside The ICE House

Brookly shares how ICE built a strategy to target the top ESG concerns of the company’s stakeholders, and uses its own data and products to convert those goals into action.

HKEXVoice On Emerging Business Opportunities — Carbon And ESG Data

Macro Thoughts

The Lockdown Files: Rishi Sunak On What We Weren’t Told
The Spectator

PLY: I appreciate that there are many who harbour a belief in the apparatus of the state. Having been born in Belfast during a dark age for the neighbourhood, my appreciation got off to a bad start and has never truly developed. The barbarity of the arrogant pillocks who influenced lockdown the world over has given us a taste of just how odious government can be and giving me a lot of good material to ensure I stay off the dinner party circuit for years to come (phew). This is a macro topic where the only free nation on earth was Sweden during the despicable incompetence of the lockdown disaster masterminded by perhaps the world’s most over educated cabal of incompetents ever.

The real tragedy is still unfolding as a genuine pandemic (We’re at pandemic levels of death. Why is no one talking about it?) further destroys the fabric of many societies. Hat tip to the Spectator for being one of the few media outlets eager not to be a mere poodle of government as has been the shameful case in most every western nation which supposedly prides itself on freedom of thought and not groupthink.

Of Interest

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!

Farewell, St Anthony Fauci
The Spectator

Fauci has developed something of a reputation for baffling the public — whether it be for contradictory advice on the efficacy of masks or herd immunity or vaccines…

Fauci will be 82 in December. America’s gerontocracy just refuses to budge. In fairness, Fauci was a pretty good doctor in his prime. Republicans tried to attack him over his handling of Aids, but his record on that public health crisis stacks up pretty well.

During the Covid pandemic, however, Fauci made the mistake a lot of experts made: he equated himself with the entire concept of science as a way of giving his pronouncements an aura of infallibility. ‘I represent science,’ he said, as a response to criticism after he repeatedly said his institute didn’t fund ‘gain of function’ virology research in Wuhan, when in fact it did.

…Maybe Fauci was just a lot like Donald Trump or Joe Biden: old, faltering, and heavily influenced by the people around him — someone who craved public approval above all. The boring truth about him probably isn’t that he is involved in any sinister conspiracy, it’s that he ignored evidence that didn’t help him and got swept along by a wider zeitgeist instead.

PLY: In the end the problem with Fauci is not about unmasking him. Rather it is the problem that his conceits masked us all up and locked us all down — both of which have proven ludicrous follies for the health of society as a whole on every metric.

Who Is Viktor Bout, Arms Dealer Linked To Swap For Americans Held By Moscow?

PLY: It seems remarkable that from a population as large as that of the USA, apparently the only miscariage worthy of the MSM is some basketballer in Moscow. At the same time, Russia appears to have played a blinder against the “grown up’ US administration.

Brexit Is On The Brink — And The Ultra Remainers Are Mobilising To Cancel It

PLY: The UK will have a new PM in a week. It looks likely to be Liz Truss who ticks all the right boxes in a perverse way — a kind of outsider, hated by the establishment and a woman (Britain’s third female PM, once again putting a lie to the silly notion that the left is good at diversity: Labour female leaders number zero, let alone PMs). However this is a worrying time as alas Boris Johnson lost control of Britain and the blob is back…and that blob does not want to forgive the electorate for their support of Brexit. Nobody expects Truss to succeed — which I suspect is precisely why she will win the next general election. She needs to enforce the benefits of Brexit and break the backbone of the corrupt, incompetent UK state. Quite a task but unless she does, when faced with a resurgent remain campaign, it’s not rejoining the EU which ought to worry us, it’s the simple fact that Britain may end up in a second civil war. Nobody should encourage the latter but my risk management brain has it factored in as a distinct probability.

Here Are Americans’ Financial Assets By Age. How Do You Compare?
Motley Fool

Last Word

No daily newsletter on Monday following the UK Summer Bank Holiday. Catch up Tuesday for Exchange Invest 2441..

The future continues in the water cooler for the bourse business…

- Patrick



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Patrick L Young

Patrick L Young


Entrepreneur, Investor, Author. #Exchanges #Fintech #Startups #Motorsport Emerging Markets. CoFounder @Exchange_Invest @HanzaTrade @MissionToRun @YMarkets