Gold isnât a superior system â itâs a desperate fallback for a world in which the people who were in charge of the superior system abdicated their duties.
@noahpinion #GlobalFinancialSystem #Dollar #Gold #America #China
https://www.noahpinion.blog/p/international-financial-anarchy
Bank of Korea Governor Rhee Chang-yong will attend the BIS Governorsâ Meeting in South Africa, leading discussions on global financial issues and representing South Korea at key international central banking forums.
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
đ§ #TheEzraKleinShow #podcast has an amazing interview with #KatharinaPistor @KAPistor about the key concepts from her book The Code of Capital:
- how the legal framework of #capital was created
- what capital actually means
- the legal underpinnings of the #GlobalFinancialSystem
- how the #LegalFramework enabling #securitization led to the #FinancialCrisis
- and so much more, definitely worth your time and attention.
The book itself is a must-read as well.
https://open.spotify.com/episode/2apjfuu6OqO4QFumm70ORc?si=hn4on5_rRuK-9_rWiQFxxg
Listen to this episode from The Ezra Klein Show on Spotify. âCapitalism, it turns out, is more than just the exchange of goods in a market economy,â Katharina Pistor writes. âIt is a market economy in which some assets are placed on legal steroids.âPistor is a professor of comparative law at Columbia Law School, the director of the Center on Global Legal Transformation at Columbia University and the author of âThe Code of Capital: How the Law Creates Wealth and Inequality.â In the book, Pistor argues that economic value isnât just captured by markets; it is created by the legal system. An asset like a piece of land or a machine has some intrinsic value. But it is only when you graft legal attributes onto those assets â backed by the coercive power of the state â that they are transformed into wealth-generating capital.Pistorâs theory has sweeping implications for some of the most fundamental economic questions of our time: How is wealth actually created? Why does our current economic system produce such huge inequalities? What causes financial crises? In Pistorâs telling, you canât begin to answer such questions without understanding the legal foundation that our economy is built on.This is a conversation that delves into the deepest layer of our economic system â one that shapes all of our lives even as it remains largely invisible. We discuss the four legal attributes that transform an ordinary asset into a wealth-generating device, how the law creates corporations and financial instruments out of thin air, the âfeudal calculusâ that underpins our modern economy, why focusing solely on wealth redistribution will never be sufficient to solve economic inequality, how private lawyers â operating outside democratic institutions â end up shaping the rules of our economic system, the âlaw and finance paradoxâ that explains why financial crises happen, how legal manipulation has eroded the âsocial contractâ of capitalism, whether the law can work as a tool to help fight climate change and more.Mentioned:âA Legal Theory of Financeâ by Katharina PistorBook Recommendations:Capital in the Twenty-First Century by Thomas PikettyCrashed by Adam ToozeAges of American Capitalism by Jonathan LevyThis episode is guest-hosted by RogĂŠ Karma, the senior editor for âThe Ezra Klein Show.â RogĂŠ has been with the show since July 2019, when it was based at Vox. He works closely with Ezra on everything related to the show, from editing to interview prep to guest selection. At Vox, he also wrote and conducted interviews on topics ranging from policing and racial justice to democracy reform and the coronavirus.Thoughts? Guest suggestions? Email us at [email protected] can find transcripts (posted midday) and more episodes of âThe Ezra Klein Showâ at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.âThe Ezra Klein Showâ is produced by Emefa Agawu, Annie Galvin, Jeff Geld, Kristin Lin and RogĂŠ Karma. Fact-checking by Michelle Harris and Mary Marge Locker. Original music by Isaac Jones. Mixing by Jeff Geld and Sonia Herrero. Audience strategy by Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser.
đ¨Something TERRIBLE is happening to the #GlobalFinancialSystemđ¨
Check out the newest episode of the #RiceCryptoShow. I'm joined by KentLewiss as he shares his most recent research report! #CBDC #ISO20022 #WEF
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https://youtu.be/7TrwJDG7vkE
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