If you don't think Central Bank Digital Currencies are coming, you are missing the big and important picture. This is going to be the biggest overhaul of the global financial system since Bretton Woods.
Talking of Bretton Woods, this IMF article alludes to a huge change coming but lacks real clarity outside of allowing much more fiscal stimulus via monetary mechanisms.
I do sometimes marvel with pride at what've been built with @RealVision and where its all going. Big plans a foot, as ever.
I mean on what other media in the world do you get this:
A shirtless @hendry_hugh in an alley beside his house, in St Barth, eating lunch (messily) while interviewing a less well-known but absolutely legendary bond trader.
And at the same time creating on screen magic
A smart, engaging, funny, intellectual, authentic conversation where everyone goes down the deep learning journey with Hugh.
This is a million miles from what anyone else is doing in financial media.
Well, it's that time again to talk about the Spanish banks (I could talk about all banks in Europe but I'll choose Spain since I know it better and they are the worst).
The Spanish summer of tourist revenues was cut short and was very bad over all. The window of opportunity to
rebuild cash flows for business and households has passed. COVID complications will cause more economic pain and The Insolvency will become prevalent over the autumn and winter.
Last week the EU gave $73bn in help for the EU banks but that failed - they are down 14% since then.
But in Spain... yikes. Banco Sabadell is about to break key support