Valbury Capital Really Should Go Bust Here – Allowing a £3.8 Billion Futures Position?

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This is a fun little story. Bloke decides he's going to trade futures as an individual investor - a dumb decision to start with....

The Problem With Modern Monetary Theory – Explained For Children So MMT Enthusiasts Can...

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This is a rather good explainer for children about what happens if a country decides it can get richer just by printing a lot...

There’s An Obvious Answer To Fractional Reserve Banking – It’s A Useful Fraud

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It's entirely true that fractional reserve banking is a fraud, a Ponzi, it's simply outrageous how credit, or wide money, is created. Murray Rothbard...

Turkey’s Proof That Speculation Is A Zero Sum Game

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A useful little proof from the current Turkish shenannigans that speculation, as speculation itself, is a zero sum game. Whatever is made by one...

Chickens coming home to roost?

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Well, well, well. Scaremongering and doomists have been predicting the end of Britain once we Brits leave the European Union—and a double dose of...

Unicorns and Nightmares

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Let it not be said we’re asleep on the job here in our dismal pit. No wide awake are we. Hence, immediately a quill...

It Was Always Trivially Obvious That The Brexit Financial Services Deal Would Be Done

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Glory Be, we are saved, Britain's financial services industry won't be cut off from the European markets. All of which is akin to that...

Well, Yes, Obviously Mr. Dalio – The Fed Raising Interest Rates Should Impact Asset...

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This is not the most remarkable observation of all time by Ray Dalio, that the Federal Reserve interest rate rises are reducing asset prices....

A Tad Stalinist – John McDonnell Insists Ex-Lehman Staff Can’t Have An Anniversary Party

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We've always known that John McDonnell has more than a touch of the authoritarian about him. But this is merging into a full blown...

Laurence Kotlikoff On What Really Produced The Recession And Crash – No, Not Bad...

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It's not necessary to entirely agree with this analysis to grasp and agree with the underlying point being made. It was the structure of...