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Tag Archives: Contributions

JPM Coin

In the FT, Robert Armstrong reports about the new “JPM coin” launched by JP Morgan. “JPM Coins” will be transferable over a blockchain between the accounts of the bank’s corporate clients, who will purchase and redeem them for dollars at a fixed 1:1 ratio, making them “stablecoins” in the crypto-jargon. The technology will facilitate near-instantaneous settlement of these money transfers and will, according to the bank, mitigate counterparty risk. According to my reading, the coins are...

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JPM Coin

In the FT, Robert Armstrong reports about the new “JPM coin” launched by JP Morgan. “JPM Coins” will be transferable over a blockchain between the accounts of the bank’s corporate clients, who will purchase and redeem them for dollars at a fixed 1:1 ratio, making them “stablecoins” in the crypto-jargon. The technology will facilitate near-instantaneous settlement of these money transfers and will, according to the bank, mitigate counterparty risk. According to my reading, the coins are...

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TIPS Goes Online

The ECB launches its Target Instant Payment Settlement (TIPS) system, which facilitates instant money transfers between banks and allows end users connected to those banks to make instant retail payments across the Euro zone. Report in the FAZ. Last year’s report by Mehreen Khan in the FT. From the ECB’s website: TIPS was developed as an extension of TARGET2 and settles payments in central bank money. TIPS currently only settles payment transfers in euro. However, in case of demand other...

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TIPS Goes Online

The ECB launches its Target Instant Payment Settlement (TIPS) system, which facilitates instant money transfers between banks and allows end users connected to those banks to make instant retail payments across the Euro zone. Report in the FAZ. Last year’s report by Mehreen Khan in the FT. From the ECB’s website: TIPS was developed as an extension of TARGET2 and settles payments in central bank money. TIPS currently only settles payment transfers in euro. However, in case of demand other...

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“Nicht-Wissen kann schützen (Knowing Less Protects),” FuW, 2018

Finanz und Wirtschaft, November 24, 2018. PDF. Ökonomenstimme, November 26, 2018. HTML. European firms dealing with Iran face U.S. “secondary sanctions.” European counter measures (including a blocking statute) prove toothless. Even central banks in the European Union surrender to U.S. pressure, as does SWIFT. Ignorance is bliss: For a sovereign, the best protection against foreign states pressuring to monitor domestic citizens and businesses may be to know as little as possible.

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“Nicht-Wissen kann schützen (Knowing Less Protects),” FuW, 2018

Finanz und Wirtschaft, November 24, 2018. PDF. Ökonomenstimme, November 26, 2018. HTML. European firms dealing with Iran face U.S. “secondary sanctions.” European counter measures (including a blocking statute) prove toothless. Even central banks in the European Union surrender to U.S. pressure, as does SWIFT. Ignorance is bliss: For a sovereign, the best protection against foreign states pressuring to monitor domestic citizens and businesses may be to know as little as possible.

Read More »