The English word ‘bank’ meaning a depository and lending institution, derives from the Italian word ‘banca’, or ‘bench.’ This belies the origins of modern finance in Renaissance Italy, where deals initially struck at coffee house bench evolved into the great trading and banking houses of the Medicis, where double-entry book keeping enabled the matching of debtors with creditors that spurred the growth of industrial Europe over the coming centuries. Today, with daily capital flows measured in the trillions of dollars enabled by high-speed fiber optics and a global communications network, major decisions happen much more quickly, and because of the levered nature of fractional reserve finance, regional concern can magnify into global contagion faster than an actual pandemic. In the case of last weekend, where Silicon Valley Bank, one of the top-30 global banks went into receivership, the political institutions of the United States were caught off guard, and in an attempt to quell further concerns, went into overdrive this week as the Federal Reserve discount window was opened guaranteeing the assets of all major banks. Not to be outdone, the Swiss National Bank just intervened in the takeover of Credit Suisse, a century and half years old institution, to further halt panic in European markets. Memories of the 2008 financial crisis are on everyone’s mind, and the ripple effects of these events are surely to continue throughout the year.
Myth of the 20th Century – Episode 250 – BANKING CRISIS – After Dark
— References —
Stone Choir – After Dark – Good vs Evil
The Evolution of Transportation
Australia – a History of Settlement
Stone Choir – Christian Nationalism
Saudi Arabia and the (End of the) Petrodollar
Someone Has to Say It – Tom Kawczynski
Sex and the City – Women, Real Estate – After Dark
Superpower Rivalry in the 21st Century
Pineapple Imperialism – a History of Hawaii
The Changing World Order – Why Nations Succeed and Fail
2022 Year in Review
The World for Sale – Commodity Trading in Uncertain Times
Suburban Redevelopment – The Growth Ponzi Scheme
Zeihan – After Dark – the Collapse of Globalization
Unfriendly Fire – a History of False Flags
Cadillac Desert – The American West and Its Disappearing Water
Assassination – After Dark
Exxon Mobil – Peak Oil and its Consequences
Sunset of the Ottomans
Create your
podcast in
minutes
It is Free
Insight Story: Tech Trends Unpacked
Zero-Shot
Fast Forward by Tomorrow Unlocked: Tech past, tech future
Black Wolf Feed (Chapo Premium Feed Bootleg)
Bannon`s War Room