I didn’t even get to try Fable.

FREE MARKET

One of the worst legacies of golden years of Barça, which coincided with the world cup won by Spain, is that now everyone sing “campeones campeones, ole ole ole” 🤮🤮🤮

Two teams you don’t care about, playing mediocre football. It’s what the World Cup is all about

This is the take that kills other takes

Bombing: mildly positive for stocks. Not bombing: ~1.5% higher

Blockchain fixes this.

As I think @smtuffy.bsky.social once said, men will invent new forms of money rather than regulate interchange fees

Moaaaar money readings!

Hit the 2k mark, slowly but steadily catching up to the number in the hellsite (which is most likely lower on a bot-adjusted basis). If I make it to 3k I will give the definitive answer to the question that vexes everyone: does blockchain fix this?

Happening soon www.luohanacademy.com/en//webinar/...

We have posted a significantly revised version of our paper “Stablecoins and safe asset prices”, with 1 more year of data, an entirely new instrumental variable approach that uses idiosyncratic variation at the stablecoin-blockchain pair level, & more on state-dependence www.bis.org/publ/work127...

Tokenized ETFs may be one of the dumbest uses of DLT out there www.etfstream.com/articles/cbi...

For the right price, quoted and settled in fiat, I am willing to discuss whether blockchain fixes this

Breite flea market; stop by for some goodies or to discuss money and banking

We have posted a significantly revised version of our paper “Stablecoins and safe asset prices”, with 1 more year of data, an entirely new instrumental variable approach that uses idiosyncratic variation at the stablecoin-blockchain pair level, & more on state-dependence www.bis.org/publ/work127...

Finished this over the weekend; great stuff @jwmason.bsky.social! I think you will enjoy my paper on money (if I ever get to wrap it up if you people stop writing books on money!)

Two lessons of today: (1) if you don’t play to win, you might not; (2) if you throw enough money at a problem, you will probably fix it

This is from over a year ago, don’t say I didn’t warn ya…

Don’t make me tap the sign…

Wenger is watching from the sidelines, dying a bit inside

Compelling evidence that liquidity regulation partly pays for itself. Banks with larger LCR gaps saw 8% lower funding costs—2.5 basis points at sample mean. Effect doubles for longer maturities as creditors price reduced liquidity risk. Regulation creates its own financing subsidy.

I, as a passive investor, do not approve of the rules being broken to force-feed space oddities into indices. Does it matter what I think. No, it most certainly does not.

A book recommendation for globalist libertarians (yes, I just invented that) with Patagonian proclivities: The cycle of illusion and dinsenchantment

Every minute that passes get us closer, the question is whether Zeno’s paradox applies

Great episode! And even greater book!

Atomic settlement of pokemon trades www.theblock.co/post/402638/...

If they go there and lip sync, did they really perform?

It was finally my turn to be the perfect guest. @tracyalloway.bsky.social got to ask about my dog and @weisenthal.bsky.social realized that if he were a 16th-century Saxon silver mine his coins would be called "weisenthaler." Mostly though we talked about the dollar. www.youtube.com/watch?v=HQJa...

The CEO contradicting a key detail of his company’s regulatory filing just before it launches the world’s largest-ever IPO? Surely securities regulators will step in and…oh haha never mind. www.ft.com/content/7df0...

New paper out!

It is obvious Jony Ive eats pizza with pineapple.

In defense of Jony Ive though: who knew cars and cell phones were so different?

Y’all look like you need a break from the news cycle. Check our new paper on liquidity regulation and bank funding costs, where we use granular data to show how the LCR lowered bank wholesale funding costs, especially at longer maturities. www.bis.org/publ/work135...

Money is, after all, about network effeXXX

@bhgreeley.bsky.social you made it to Singapore

Yoga with chickens wearing diapers. I think we need to re-start the earth. Wipe the drive clean, start all over again.

📢JOB ALERT🚨 Come work with me in the Global Financial Flows team at the Fed! Modestly aside, we are at the cutting edge of measurement & analysis of cross border capital flows. A great opportunity for someone with a strong interest & great programming skills! www.linkedin.com/jobs/view/44...

And thus, greatflation was born. You are welcome journos.

I've been thinking more about the underlying tenets of investing in equity indices as a savings mechanism and how they may be breaking down in the U.S. There are a few underlying premises around 'owning the market' - the existence of a positive equity risk premium - strong corporate governance

Happening today! www.bostonfed.org/news-and-eve....

I am going to go out on a limb here and venture a highly speculative answer: because they sell lithium?

Oh, I see Eurovision is on and all you otherwise normal people collective lose your bearings.

Graffiti is not what it used to (Seen right outside Zurich central station, where I have come to, you guessed it, talk stablecoins)

Tips don’t lie (I see myself out)

Like this I am never going to finish my paper on money, of course…