Financial news

Links 12/9/19

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Via Naked Capitalism

Live: White Island erupting: At least five people dead; cruise ship tourists missing New Zealand Herald

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.’”

The Shock and Awe Era for Central Banks Is Over Bloomberg

Listen up you bunch of bankers. Here are some pointers for less crap IT The Register (original). Paging Clive…

U.S. banks’ reluctance to lend cash may have caused repo shock: BIS Reuters. See NC here.

Greta speaks:

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.

Brexit

Tactical voting guide 2019: the 50 seats where it is vital to keep the Tories out Guardian

Johnson vow to implement Brexit deal by December 2020 in doubt FT

Northern Ireland customs protocol could thwart Brexit plans Guardian (KW).

A Warning From Northern Ireland. Is Anyone Listening? The Atlantic

This may be Brexit Britain’s finest hour Politico

Emmanuel Macron Wants to End France’s Welfare State Jacobin

READ ALSO  Owners of solar company that caused loss for Buffett plead guilty over Ponzi scheme

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.”

Syraqistan

Was Pensacola Shooter part of a terrorist Cell inside Saudi Officer Corps? Juan Cole

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.

Israel Becomes Major Hub in the International Cocaine Trade, Abuse Rising Haartetz

Bolivia after Morales: An ‘ungovernable country’ with a power vacuum The Conversation

Evo Morales heads to Cuba amid talk of an eventual comeback Guardian

Students keep driving protests demanding change in Chile AP

2019’s mass protests are missing the spectacular results of 2011 and 1989 WaPo

China?

Hongkongers await Beijing olive branch after rare weekend of calm Hong Kong Free Press

Hong Kong: counting the health cost Lancet

Discipline:


* * *

China copper imports hit 13-month high in November on improved factory activity Reuters

Doing Business With China: The Only Guarantee is That There Are No Guarantees China Law Blog

Beijing orders state offices to replace foreign PCs and software FT

China Says All People Held in Xinjiang Camps Have ‘Graduated’ Bloomberg

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

Trump Transition

US government drops case against Max Blumenthal after jailing journalist on false charges The Grayzone

Trump heads to court in fight over emoluments The Hill

Impeachment

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.

How the Schiff Report Deals with Disinformation LawFare

2020

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.

Health Care

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.

Sports Desk

Masters of the Universe Are Taking Over Your Local Sports Teams Bloomberg

James Dolan hired consulting firm that caused confusion, paranoia among Carmelo Anthony-led Knicks Clutch Points (TJ). From August, still germane.

Boeing

Pontifications: Stop hitting the snooze button, Boeing Leeham News

‘It’s Time For You to Die’: How flaws in the SC prison system led to 7 deaths in a single night Post & Courier

Socialism’s Biggest Hero Is a Bourgeois British Capitalist Foreign Policy (UserFriendly).
Class Warfare

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.

Wall of banana exhibit vandalized with lipstick at Art Basel: ‘Epstien didn’t kill himself’ Miami Herald

Antidote du jour (via):

See yesterday’s Links and Antidote du Jour here.

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