The Future of the USA?: EI Weekend 3186
Some thought provocation concerning the future of the USA in the wake of President Trump’s inauguration…
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 Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
On this day in 2022, the Chi-X name disappears today, February 1, to be replaced by Cboe as the latter’s ‘stealth’ global stock market takes flight.
SPONSORED BY:
MACRO THOUGHTS
US businesses pay less than Japan or France for their electricity and half that of Germany or a third of the cost in the UK and Italy.
At the same time, one key issue for Trump’s foreign policy is Taiwan and the threat of invasion. On the macro, note that China has 232 times the shipbuilding capacity of the USA (23.25 million tonnes vs less than 100,000 — Alarming Navy Intel Slide Warns Of China’s 200 Times Greater Shipbuilding Capacity. Moreover, the Chinese navy is now 370 vessels compared to 296 for the US but this may widen in a decade to 475 for China to circa 305–317 for the USA.
AFM 2025 Conference
Exchange Invest is heading to Nairobi!
We’re proud to be sponsoring the 27th AFM Annual Conference this February hosted by Nairobi Securities Exchange! As “The Exchange of Information,” we keep the global bourse business informed from the top to the bottom of Young’s Pyramid of Exchanges — and we’re excited to join AFM for dynamic discussions, expert panels, and top-tier networking.
See you there for insights on market infrastructure, digital finance, and the future of fintech!
February 13–14, 2025 — Don’t miss it!
IPO-VID LIVESTREAM: NEXT TUESDAY
“2025 Outlook, Star Events and Markets”
Guest: Susan Gidel
February 4th, 2025
1700 UK, 1800 CET, 1200 EST
Watch the stream on:
LinkedIn | Youtube | Facebook
Susan Abbott Gidel is a leading astrologist specialising in financial markets with several decades of front line commodity futures market experience. Returning to IPO-VID for a third time, Susan will be discussing her 2025 Outlook.
Parish Notes
Welcome to Connamara
PLY: I am delighted to welcome a new sponsor to Exchange Invest. The good folks of Connamara are on a hot streak right now delivering awesome systems to power markets in all manner of products, across the world. Their latest client announcement this week was ArchitectX out of Bermuda (EI 3182) while before Christmas they installed the software at IBKR’s ForecastEx which promptly traded more than half a billion dollars value of contracts on the US Presidential elections in November in a matter of weeks after the CFTC was forced to open the political risk transfer market up (EI 2963).
Connamara also powered the Chicago Climate Exchange way back when that was a pioneer and the AFX also co-founded by the genius Richard Sandor which was recently acquired by ICE (from 7Ridge, EI 3166).
I am delighted to have Connamara support Exchange Invest and the free flow of information across the parish of markets, joining the excellent Nasdaq, BMLL and Sinara. ALL our sponsors are tier organisers of, and providers to, markets the world over. Additional thanks to our multiple corporate subscribers who retain their anonymity while supporting our endeavours as the unique platform of record for the business of bourses and market structure.
It’s a fascinating time for exchange IT software provision and I am delighted to extend our sponsor roster with a growing business which is making markets better — and making better markets as the parish of exchanges expands. Connemara is in pole position to profit from this upswing with established successful clients and I have no doubt the firm will continue to enjoy greater success thanks to the halo effect of supporting Exchange Invest.
In BigWorld
From Exchange Invest 3177: January 22nd:
For those who have been subject to the demented “we loved Justin” Trudeaumania in Western media, the net net is that it resembles Biebermania in its collective immaturity, albeit Justin B has created some form of profitable economic legacy.
While a vast swathe of Toronto has been spraying Tim Horton’s doughnuts while foaming at the mouth concerning President Trump’s suggestion of engorging Canada as a state, it’s worth considering the failed legacy of “hairboy” and the success of the US.
Where the US economy grew 86% and the EU 9% over the 15 years 2009–2024, Canada’s virtue signalling era has not done the economy any favours.
As a state of the USA, ONLY Mississippi would be poorer on a GDP per head basis.
Canada’s GDP per capita stands at a polite $54,900 slightly below second poorest US state West Virginia at $57,710.
Mississippi is growing and at $51,420 has Canada firmly in its sights.
I’ll be discussing this phenomenon in more detail via our short videos on social media soon — don’t forget to follow:
Exchange Invest:
LinkedIn: Exchange Invest
Facebook: Exchange Invest
X (Twitter): @Exchange_Invest
Patrick L Young:
LinkedIn: Patrick L Young
Facebook: Patrick L Young
X (Twitter): @FrontierFinance
In Patrick’s Opinion Video (IPO-VID) Livestream:
Instagram: @ipovid
YouTube: @IPOVIDInPatricksOpinion
TikTok: @ipovid_inpatricksopinion
In Patrick’s Opinion Video (IPO-VID) Livestream Podcast:
Spotify: IPO-VID Livestream Podcast with Patrick L Young
Apple Podcast: IPO-VID Livestream Podcast with Patrick L Young
Amazon Music: IPO-VID Livestream Podcast with Patrick L Young
Anchor: IPO-VID Livestream Podcast with Patrick L Young
Exchange Invest Weekend Podcast:
Exchange Invest Website: Exchange Invest Weekly Podcast
YouTube Podcasts: Exchange Invest Weekly
Spotify: Exchange Invest
Apple Podcast: Exchange Invest
Amazon Music: Exchange Invest
PLY: Market Movers On Fintech TV
Catch me on Market Movers On Fintech TV every Monday at 0920 AM for the latest insights in finance, technology, impact investing, and market trends. Fintech TV is on the web (Fintech.TV), in a multitude of airports across the USA and other channels.
EXCHANGE INVEST WEEKLY PODCAST
The Battlecry Begins: End the FCA!
European Union Sees Sense in CCP,
IFAD Expands,
As Europe Confirms it will be T+1232 Days Behind the USA.
The Exchange Invest Weekly Podcast 280
Bitcarnage
Ethics & Crypto?
Yeah, I know, there’s a headline to conjure with. Or just laugh at uproariously.
Once upon a time, I loved this stuff and then credibility crumbled when I met many of the folks attracted to crypto.
There is a truly remarkable twist in the ether that the Democrats (famed champions of their one time paymaster SBF) are aligned to probe Trump: House Democrats Want Ethics Probe On Trump Over Crypto Projects (Cointelegraph).
That would be the same group amongst whose numbers blowing air kisses at SBF was deemed acceptable behaviour back in the day when few apart from ourselves were calling out the fact that we deemed FTX had issues and a big fat caveat emptor was in order.
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.
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!
The Trump Resistance Is Dead
The Spectator
Trump Foreign Policy: 6 Issues He Got Right And The Experts Were Wrong
Fox News
Trump Inauguration Speeches Compared:
2017: The Inaugural Address (GOV)
2025: Full Transcript Of Trump’s Inauguration Speech (CBS News)
The U.S. Industrial Base Is Not Prepared For A Possible Conflict With China
CSIS
Will China Go To War With Trump?
UnHerd
Catch Up: China Is Getting New Weapons Faster Than The U.S.
The National Interest
Books worth reading:
Finance Book Of The Week
“The Wisdom of Crowds” by James Surowiecki explores a deceptively simple idea: Large groups of people are smarter than an elite few, no matter how brilliant — better at solving problems, fostering innovation, coming to wise decisions, even predicting the future.
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 $499 per annum to join “The Exchange of Information.
Capital Market Revolution
First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp
This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
IPO-VID LIVESTREAM: NOW ONLINE!
“Alan Dickinson — A LIFFE Story”
Guest: Alan Dickinson
January 28th, 2025
1700 UK, 1800 CET, 1200 EST
Alan Dickinson is one of the legendary LIFFE floor “local” traders having joined the Royal Exchange floor on day one in 1982 having previously worked on the London Stock Exchange since 1972 and at the Coffee Sugar Cocoa exchange since 1974… Subsequently Alan went on to run Tower Trading in London and most recently has become Chairman of TradrLab a no code / low code platform simplifying data analysis for traders.
Watch the stream on:
LinkedIn | Youtube | Facebook
IPO-VID LIVESTREAM PODCAST
This week on IPO-VID podcast, we delve into the visionary world of Joe Cecala, Co-Founder & CEO of the Dream Exchange. With a career spanning electronic markets innovation, civil rights litigation, and the US Army Reserves, Joe’s journey is nothing short of remarkable. He’s also the driving force behind the Main Street Growth Act, working to establish SME exchanges in the USA. Now, he’s leading the charge to create the first venture exchange in the US and make history as the first Black-owned national market system stock exchange.
Don’t miss this inspiring conversation about innovation, inclusion, and reshaping the financial markets! 🎙️✨
EI Website | Spotify | Apple Podcast | Anchor
LAST WORD
…If you want to stay abreast of the world of exchanges then please Subscribe to our Daily Newsletter — free 7-day trial.
Or Subscribe to our Weekend Edition — it’s free.
You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.
Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.
At the least can you like this article, or leave us a comment, we welcome your feedback.
If you enjoy our multimedia, then please Like / Subscribe to our video channel: IPO-VID In Patrick’s Opinion.
