Last week saw two high-profile corporate failures in the UK. Toys R Us finally went into administration after a stay of execution over Christmas. And private equity firm Rutland Partners pulled the ...

No, this isn't a post about derivatives. It's about the relationship between reserves and safe assets. I think it is time I brought the two together and created a unified explanation of the behaviour ...

Eugenics has a bad reputation. Even the word "eugenics" is repugnant to many people, associated as it is with atrocities - forced sterilization programmes in America, for example, and of course the ...

Maya Forstater's Employment Tribunal hearing comes up soon. This is her second hearing: the judge in the first hearing dismissed her case with a controversial judgment that described her "gender ...

Luke 10:30-37 Jesus replied, “A man was going down from Jerusalem to Jericho, and he fell among robbers, who stripped him and beat him and departed, leaving him half dead. Now by chance a priest was ...

This is not creating money "from nothing". It is exchanging new money for assets. At the end of the lending transaction, there is an illiquid asset on the bank's balance sheet that wasn't there before ...

I do not like the direction in which our society is travelling. From a joint statement by several Christian churches, published in the Methodist Times in October: In March this year, the Churches ...

This post has been brewing for a long time. It reflects my attempt to make sense of the growing political confusion and chaos in the world today. William Butler Yeats's poem The Second Coming well ...

It's now widely accepted, though still not universally, that banks create money when they lend. But it seems to be much less widely known that they also create money when they spend. I don't just mean ...

The world is transitioning from a carbon-intensive to a metals-intensive economy. Low-carbon technologies use much larger amounts of metal than traditional fossil fuel-based systems. Demand for metals ...

It has burned through nearly $200m in nine months. During this time, Voyager did a $75m private placement shares issue to raise some cash. But it wasn't anywhere near enough. At the end of the period ...

Tether is the issuer of the cryptocurrrency world's premier stablecoin, USDT. Stablecoins aim to guarantee the value of cryptocurrencies in dollar terms, hedging volatility risk and making it easier ...