Tag Financial Markets

Financial regulation and the loss of sovereignty

A global phenomenon, nothing to do with Brexit

Right now in South Africa, President Zuma is being urged to refuse to sign the new Financial Intelligence Centre Amendment Act.

This act is part of ongoing global tightening of controls to reduce/eliminate money laundering and combat the financing of terrorism. There is plenty of freely available documentation to describe the aims – for example from the IMF and from the World Bank.

So these regulations are centrally imposed by global non-government organizations. Just like the Kyoto Protocol and the United Nations Declaration of the Rights of the Child, right?

Err ….. no. These regulations are different because Read more

onlycoin – only ten years too late

PINning your hopes on an unCHIPped picture of the future

A new startup, onlycoin.com, is attempting crowdfunding for a new credit card wallet. This product, called coin, is the same size as a credit card and stores the details of up to eight other credit cards (or debit cards, or any similar card with a magnetic strip). The onlycoin.com card runs an application that allows you to select which of these eight cards the onlycoin.com card should emulate. This allows you to leave your other cards at home and carry just the onlycoin.com card.

Many people’s physical wallets are bursting with multiple cards, and the onlycoin.com card helps address this problem. But it has a major drawback. The onlycoin.com card does not Read more

Edictum De Pretiis Rerum Venalium

The rise and fall of the Roman Empire European Parliament

Diocletian, or Gaius Aurelius Valerius Diocletianus Augustus, a Roman emperor who ruled from 284 to 305, issued the edict on maximum prices (in Latin, Edictum De Pretiis Rerum Venalium) in 301.

In an outburst against a European Union cap on bankers’ bonuses, Boris Johnson, the mayor of London, said “the most this measure can hope to achieve is a boost for Zurich and Singapore and New York at the expense of a struggling EU. This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman empire.”

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Bubble 2.0

Wait for the pop!

Yes it’s happened again. Our memories must last about ten years. We have a new bubble in Internet stocks.

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Back to the Future

Swapping credit

Title VII of the Dodd-Frank Act, or “the Wall Street Transparency and Accountability Act of 2010,” threatens major capital reserve burdens on OTC derivatives traders by requiring that OTC swaps are cleared through clearinghouses that will demand a margin in addition to the capital reserve required by the Regulations.

The Act also determines that Federal support will not be provided to businesses involved in swaps (there are exceptions).

This will have major implications for the financial markets.

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The Fat MAN defense

Fiat mixtura – but which one

The fat man defense is a company strategy whereby an acquisition is made to increase the size of a business so that it is more difficult to acquire. Fiat mixtura is a Latin phrase that can be loosely translated as “let the integration be made.” But will an integration involve a fat MAN? Read more

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