Tag: Finance

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Arsenal of economic weapons: How the US weaponised Dollar

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Chokepoints is one of the most pivotal geopolitical shifts of our time. As Russia, China and Iran have sought to upend the international order, America and its allies have mounted unprecedented economic retaliation. Now the global economy is a weapon of war. Globalisation was once hailed as the great leveller, bringing prosperity to all. Former top US State Department official and a scholar, at Columbia university, Edward Fishman, takes us into the back rooms of power around the world, meeting an eclectic group of innovator: the diplomats, lawyers, and financial whizzes who have masterminded a fearsome new arsenal of economic … Continue reading Arsenal of economic weapons: How the US weaponised Dollar

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Wealth Transfer

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The superrich wanted Great Wealth Transfer, by becoming philanthropist effectively means transfer of family wealth from the Baby Boomer generation to their children. Vanguard estimated that by 2030, around $10.6 trillion will have been transferred between generations in the United States, $.35 trillion in Europe, and $2.8 trillion in Asia. These are enormous figures, but globally, the private equity industry had $8.2 trillion of assets under management at the end of 2023. There is great wealth transfer happening every day that has contributed to this enormous accumulation of wealth: the monopolization of the economy.  Wealth transfer emerges from the pocketbooks … Continue reading Wealth Transfer

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North Korean Hackers steal £1.76bn this year

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North Korean hackers stole this year  £1.76bn ($2.2bn) in Cryptocurrencies according to research firm Chainanalysis. Some theft appear to be linked to North Korean hackers posing as remote IT workers to infiltrate crypto and other technology firms, amid nearly doubling of the bitcoin prices, as incoming US president Donald Trump is expected to be more crypto-friendly. The majority of crypto stolen this year was due to compromised private keys- which are used to control access to users’ assets on crypto platforms. But the most significant incidents this year included the theft of the equivalent of $300m, in bitcoin from Japanese crypto … Continue reading North Korean Hackers steal £1.76bn this year

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Capture the elusive by consistent action

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The real, lasting keys to motivation is how to get yourself to do things you don’t feel like doing. Capturing the elusive, awesome force of momentum, to make you unstoppable. This is the acceleration secrets of super achievers. If you’re serious about living an extraordinary life, use the power of The Compound Effect to create the success you want. The New York Times and Wall Street Journal bestseller Darren Hardy’s The Compound Effect, based on the principle that little, everyday decisions will either take you to the life you desire or to disaster by default No gimmicks. Hardy’s insightful detailed … Continue reading Capture the elusive by consistent action

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Son’s unique blend of financial engineering, power of optimism, daring to dream

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Masayoshi Son, as an ethnic Korean in Japan, Son has overcome adversity, born in Korean poverty and forced to pass as Japanese, driven by the need for acceptance in a famously regimented society despite discrimination to become Japan’s best-known businessman and empire-builder, but he remains elusive, intensely private figure. He had chips on his shoulders put chips in pockets. In Gambling Man, we learn what drives Son on, and whether he really is a genius or a madman. Son merely wants to show off his Japanese garden, although there are no rosebud moment, but he enigmatic as ever. SoftBank founder … Continue reading Son’s unique blend of financial engineering, power of optimism, daring to dream

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World of uncertainty

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As luck would have it nothing in this world is certain accept death, taxes and uncertainty. From Breakfast to AI replacing human, the human condition is full of uncertainty. Britain’s most eminent statistician, David Spiegelhalter believes “ is all about us, but, like the air we breathe, it tends to remain unexamined.” His previous book in 2019, The Art of Statistics was a bestseller, during the Covid-19 pandemic, the Cambridge university emeritus professor of statistics acquired national treasure status as he helped an anxious nation to interpret the data. For over 5000 years from Greek to Mongolia humanity had fancied … Continue reading World of uncertainty

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US banks made $1tn windfall from Fed’s higher rates

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US banks made $1tn windfall profit by failing to pass on to savers the higher interest rates that were kept in place by the Federal Reserve for the past two and half years. Lenders earned higher yields for their deposits at the Fed but kept rates lower for many savers, according the review of Federal Deposit Insurance Corporation data. The boost to the country’s in excess of 4, 000 banks has helped increase their profit margin. While rates on some savings accounts were raised in line with the Fed’s target of more than 5 per cent, the majority of depositors, … Continue reading US banks made $1tn windfall from Fed’s higher rates

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Pound hits $1.30 amid global market jitters

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The Sterling Pound hit its highest level against the dollar in a year on Wednesday as investors bet on UK interest rates staying higher for longer. The data reveal the rate of inflation was proving more stubborn than expected by some analysts which prompted traders to cut bets on an easing of rates in August, and sent the pound above $1.30 for the first time since last July. The Pound has also boosted by market hoping new Labour government will offer economic stability. UK inflation was steady in June, in line with Bank of England’s target rate of 2 per … Continue reading Pound hits $1.30 amid global market jitters

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Dealing in Trillion dollars, a day, where you dream numbers

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This is the rags to riches story of a poor boy who became a trader accidentally. “If you were gonna rob a bank, and you saw the vault door there, left open, what would you do? Would you wait around? The Trading game is an outrageous white-knuckle journey to the dark heart of an intoxicating world – from someone who survived the trading game of the City or Wall Street, recounts the allure and horror of working on Citigroup’s bond trading floor in London in early 2000s, when Gary Stevenson made millions before burning out and blew it all wide … Continue reading Dealing in Trillion dollars, a day, where you dream numbers

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Ultimate Greed

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The Trading Game is a story of financial madness, moral decay and ultimate greed.  A young man preferably male protagonist is traditionally attracted to Wall Street to seek his fortune. But Gary Stevenson the poor kid kicking broken footballs on the streets of East London in the shadow of affluent Canary Wharf’s skyscrapers,  wanted something much better and bigger for himself.  After winning a competition run by a bank “The Trading Game” he got the golden ticket to a new life, as the youngest trader in the whole city of London.  Where your colleagues are dysfunctional maths geniuses, overfed public … Continue reading Ultimate Greed