Please prepare yourself for months of shameless self-promotion, mute me on socials, feel free to avoid me in public etc, because my next book — A Fabulous Debt: The Epic Story of How Bonds Built the Modern World — is now officially available for pre-orders.
Libor is no longer with us. It has ceased to be. It’s expired and gone to meet its maker. Bereft of life, it rests in peace. It’s rung down the curtain and joined the choir invisible. It is an ex-benchmark.
But do we need to bring it back? ft.com/content/1b210243-3b3a…
When most people hear the name Richard Nixon, they probably think of Watergate. Damaged people like me think about the end of the Bretton Woods system, and “our currency but your problem”.
Here’s The Story of Money’s second episode about the Nixon Shock. podcasts.apple.com/us/podcas…
Forget the renminbi; the biggest increase in central bank reserves have been in the IMF's mysterious "other currencies" category.
This has grown by $550bn since 2020, and commands a greater share than even the Japanese yen. But what lurks underneath? ft.com/content/2493d93d-b5a4…
The Nixon Shock of 1971 — which finally shattered the famous "cross of gold" that the global economy had been nailed to for centuries — is the subject of a two-part Story of Money episode, the first of which dropped today. 🥳 ft.com/content/525db61f-bd67…