Make a Bond movie academic: From Referee #2 with love

Dip buyers be like

When will we look at the power case over the money case? Twitter was a good deal for influence, not profit. DOGE was a cover for data access, not efficiency >> How Did DOGE Disrupt So Much While Saving So Little? ↘️ www.nytimes.com/2025/12/23/u...

I riff on @dianecoyle1859.bsky.social’s discussion of institutions and growth to explain why banking may be an important missing link in economists’ understanding of how and why growth takes place. Institutions and growth: How banks used to provide the liquidity that fuels innovation and growth

And thanks to crypto, I am none the wiser

Janus Henderson to Janus Henderson

Ten year anniversary of my PhD dissertation defense today, time flies

Back in Berlin

It does encapsulate a lot

T+1

Finally got to this one

Yes, and I’m not even sure anonymity is important, either. Historically, most small transactions were heavily credit based, with occasional cash clearing, almost always as part of an ongoing relationship. The idea that there was ever a pure, anonymous, permissionless system is a fantasy.

Only in the redacted version you really notice he’s there

This one wins

Blockchain fixes this

And of course that epic save on the 123rd minute, duly framed in office shrine

Happy third anniversary to this absolute beauty of a goal in a world cup final. Three years on, I still want to marry this goal and raise a family of little counterattacks x.com/modoscalonet...

C’mon …. this isn’t being driven by global demand, certainly not from any institutions. It’s being driven by US retail yolo traders

The kind .. you find … in a second hand store

No runs no points

Blockchain fixes at least one of these

Yesterday I met an old friend for dinner in Frankfurt, and he asked me what is a stablecoin. Some people are wealthy and they don’t know it.

Yesterday I met an old friend for dinner in Frankfurt, and he asked me what is a stablecoin. Some people are wealthy and they don’t know it.

Now they will lend $49 billion less

Ok that’s it I am giving up www.coindesk.com/business/202...

Live shot of yours truly reading stablecoin stuff

Crypto founder Do Kwon sentenced to 15 years in prison on.ft.com/4q4EM3x

Back in good old Frankfurt to talk stablecoins

Hi #Econsky! I’ve got a new working paper on central bank lending facilities in crises and their transmission to broader credit supply. 🚨A summary thread🚨

“I mean, we are funding companies that will operate non-democratic cities,” says the progeny of Milton Friedman, and I feel we have the world we deserve..

In the world where I am come from if market makers are gone it means the leverage ratio is binding and balance sheet constraints bite. We fail to consider that more often than not, market makers sometimes just don’t pick up the phone.

This institutionalization of gambling is the true legacy of crypto

After decades of an embarrassing status quo, people are waking up to the fact that if it’s not really a ball, and you don’t play with your feet, it’s really silly to call it football. I am hopeful for the future.

Whoever designed the FIFA trophy seems to be unclear on the single most basic rule in soccer

Estimates of stablecoin market size on the other hand… now those are not at all guesses or hopes

Doing some research on equity tokenization and the methodology for every estimate of the potential market size is literally this meme

Update: The Rock is still puzzled about this.