The future of money and the payment system: what role for central banks? (PDF) Bank of International Settlements. “The monetary system is founded on trust in the currency. This is something that only the central bank can provide. Like the legal system and other public goods, the trust underpinned by the central bank has the attributes of a public good.3 To coin a phrase, I would like to refer to ‘central bank public goods.’”
Listen up you bunch of bankers. Here are some pointers for less crap IT The Register (original). Paging Clive…
— Al Jazeera English (@AJEnglish) December 8, 2019
That’s very unlikely to be true. Those in power aren’t “ignoring” the climate crisis; they’re figuring out how to profit from it. (See here for an example.) That’s what disaster capitalism is all about — see Puerto Rico — and absent a theory of change, what it will continue to be about.
Northern Ireland customs protocol could thwart Brexit plans Guardian (KW).
Austria struggles with marauding Krampus demons gone rogue Guardian. “At an event [in] Salzburg on 23 November this year, about 1,000 goat-demons roamed the streets of the city.”
Saudi Arabia – a family holding company, not a friend. Sic Semper Tyrannis
Exclusive: U.S. says drone shot down by Russian air defenses near Libyan capital Reuters. And we want the wreckage back.
Bolivia after Morales: An ‘ungovernable country’ with a power vacuum The Conversation
Hongkongers await Beijing olive branch after rare weekend of calm Hong Kong Free Press
The old Bank of China ‘redecorated’. Just in case anyone thinks the redecoration is indiscriminate, across the street is the #HK Court of Final Appeal with not a mark on it: next door, HSBC HQ, the same. The targeting is very disciplined: #CCP-owned enterprises. pic.twitter.com/iYjhXhaKgR
— Kong Tsung-gan / 江松澗 (@KongTsungGan) December 8, 2019
* * *
China hopes trade war deal will come ‘as soon as possible’, vows once again to reform economy South China Morning Post
China’s Quest for Legitimacy Project Syndicate
New Cold War
Russia and China’s ominous new friendship CNN. Nice work by The Blob.
NATO’s Dirty Little Secret Is Out The National Interest
Barr Allows for Release of Additional Details About Ex-Spy Behind Steele Dossier NYT. Looks like the Inspector General’s report will come out later today. That should be exciting.
Impeachment inquiry: Nadler may add Mueller counts against Trump Guardian. More cowbell.
Fear and Loathing? The 2020 Election is a Repeat of 1972 SportsGeek (UserFriendly). This is awfully fun, and it’s good to see SportsGeek moving onto the beats DeadSpin had, before those private equity morons destroyed it. (Superdelegates, however, were implemented in 1982, not 1972). Read all the way to the end.
Imperial Collapse Watch
Propaganda, Anti-propaganda The Baffler. On the CIA’s torture program.
Where the Frauds Are All Legal Elisabeth Rosenthal, NYT
Much of what we accept as legal in medical billing would be regarded as fraud in any other sector.
I have been circling around this conclusion for this past five years, as I’ve listened to patients’ stories while covering health care as a journalist and author. Now, after a summer of firsthand experience — my husband was in a bike crash in July — it’s time to call out this fact head-on.
Firsthand experience so often does the trick.
James Dolan hired consulting firm that caused confusion, paranoia among Carmelo Anthony-led Knicks Clutch Points (TJ). From August, still germane.
Socialism’s Biggest Hero Is a Bourgeois British Capitalist Foreign Policy (UserFriendly).
How business elites sold the “urban renewal” lie to the Rust Belt Salon. Bangor, too. We destroyed a lovely brick train station in favor of a wasteland of parking lots and banks.
Antidote du jour (via):
See yesterday’s Links and Antidote du Jour here.