Exchange Invest Weekend 2916: Video Game Benefits
Credit Card Concerns. Video game benefits. East Indian monopoly, failing drugs wars. HK ♥ Big Box Stores. Panama’s dry canal.
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.
On this day in 2008, Bear Stearns was purchased by JP Morgan Chase in an all-stock swap worth $2 a share (about $236 million).
IN BIGWORLD
From Exchange Invest 2911: Monday, March 11th:
In Thailand, the grim face of corruption was risibly visible when somebody did a little investigating into the accounts of 4 Thai civil servants who had somehow squirrelled away an eye-popping $57 million US in their respective bank accounts. The average civil servant makes around 11,500 USD per annum. A government official memorably noted: “Their listed assets — including their bank deposits — did not match their government incomes.”
IPO-VID LIVESTREAM
NEXT WEEK TUESDAY: IPO-VID Livestream 136
Season 23: Episode 04
Guest: Gunnar Stefansson
Tuesday, March 19th 1700 UK, 1800 CET, 1300 EST
“Smileycoin — the Happy Face of Crypto”
Gunnar Stefansson has a background in statistics. In his day job, he is a professor at the University of Iceland. His research and applications attempt to merge blockchain and cryptocurrency with educational technology and charity.
Watch the stream on:
IPO-VID LIVESTREAM PODCAST
In the IPO-VID podcast episode #133, Patrick L Young was joined by an entrepreneurial qualified lawyer, Tiaan Bazuin.
Listen in as they delve into the intriguing topic of “Unlocking Namibian Growth.”
Now available from multiple different podcast sources:
EI Website
Spotify
Google Podcasts
Apple Podcast
EI WEEKLY PODCAST
Does ASX+ASIC=Awful?
Gazza G Shoehorns Climate Regulation Into the US Securities Regulation Sphere
CBOE Says No Deal
DB1 Has A New CEO
And T Bond CCP Competition Is Coming To The USA…
The Exchange Invest Weekly Podcast 236
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.
- Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
FINANCE BOOK OF THE WEEK
In response to reader’s queries, we have added a book of the week column to the EI weekend edition — interesting books pertaining to exchanges and markets, investment et al.
— Anybody can sign up for EI Weekend for free at ExchangeInvest.com.
This week’s book was written by Niall Ferguson.
The Ascent of Money: A Financial History of the World brings author Niall Ferguson’s signature clarity and expert lens to bear on appreciating that while many may resent the plutocrats of Wall Street, the evolution of finance has rivalled the importance of any technological innovation in the rise of civilization. Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself.
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
Suggestions welcome if you would like to nominate a book for us to cover!
Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.
& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange Invest.com — it’s only $375 per annum to join “The Exchange of Information.”
Parish Notes
I was delighted to contribute an article to the Vermiculus newsletter this week on that fascinating topic, the move from T+2 to T+1 clearing as already undertaken by Russia and India while coming May 28th to Canada, Mexico and the world’s market leader by far, the USA.
As you will recall, settlement times have long fascinated me and while I still ponder real-time settlement, the move to settling in a day carries with it huge issues for conventional asset markets.
If you’re interested in some of the issues and how they may be resolved — check out the latest edition of the Vermiculus newsletter!
I also made a one minute video on the topic on Instagram / Tiktok / Youtube.
Elsewhere in Parish Notes we had some fascinating insights about exchanges and the future thereof from the FIA Boca Raton conference.
BITCARNAGE
In the stuff we truly cannot make up, even when it comes to the whacky world of crypto, the news Binance Made Crypto Perfume In A Baffling Attempt To Woo Women (Techcrunch) / Binance To Make Crypto Smell Good With New Fragrance For Women’s Day (Cointelegraph) is surely the ultimate distribution from the brotopia controlled digital asset markets?
Also, the bros are excited as they reckon they can do the full SBF and buy the government: Crypto Dollars Helped Lift U.S. Politicians To Victory In Congressional Primaries (CoinDesk).
Then there is COIN which is again upset that the US SEC has not written laws especially for them — even where they have in the past been somewhat challenged to adhere to even existing stuff like AML / KYC laws…Coinbase Accuses U.S. SEC Of Breaking The Law In Rejecting Crypto Rulemaking (CoinDesk).
If you enjoyed this excerpt you may be interested to know that you can read Bitcarnage every day in Exchange Invest.
Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.
MACRO THOUGHTS
Americans Are Missing Credit Card Payments At The Highest Rate In A Decade
Yahoo Finance
Credit Card And Auto Loan Delinquencies Continue Rising; Notably Among Younger Borrowers
NY Fed
PLY: Slightly older story but the trend has not been rectified during Q1 methinks…
‘Bougie Broke’ — The Financial Reality Behind The Facade
ZeroHedge
PLY: The term “bougie broke” is an apt one. The problem is keeping the music going in many ways — AKA in Europe where the music is at best locked in a lengthy repetitious coda which is going nowhere and sooner or later that movement will end. The US still tends to deliver dreams on average. Europe delivers lovely Insta. As I noted in EI Daily this week, the classic observation by John Hulsman from an anonymous Gilet Jaune protester a while back concerned with the elite concerns over global warming: “They worry about the end of the world, we’re worried about the end of the month.” #BougieBroke.
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!
Video Games Aren’t A Total Waste Of Time
The Spectator
How The East India Company Became The World’s Most Powerful Monopoly
History
The West’s War On Drugs Has Failed — And Brought Carnage To Latin America
Telegraph
PLY: I recently abandoned my Telegraph subscription so this may be the last missive from behind that paywall for some time. Lord Hannan discusses his native South America and expresses a desire for cocaine legalization, if not as a prospective customer per se.
(Why did I unsubscribe from the August Daily Telegraph? It just struck me paying money to read depressing British news was pointless, if the UK can right itself in the future, I may return…the problem is not the Telegraph, it IS the UK…).
Hongkongers Fall For China’s Big Box Stores
FT
How The Panama Canal’s Drought Effects Global Trade: Big Take Podcast
Bloomberg
LAST WORD
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The future continues in the water cooler of the bourse business…
