Claude Forthomme's Blog, page 10
April 14, 2018
TRUMP WATCH: Joining the Trade Pact Against China
This week more of my TRUMP WATCH articles were published on Impakter:
TWEETS OF WAR warning the enemy - in this case Russia - of an impending missile strike in Syria (click here to read - updated with the news of the retaliatory attack on 14 April); HALF THE COUNTRY IS THE ENEMY: in this one Trump takes aim at California, reviling it as a "sanctuary state" overrun by hordes of criminal immigrants, ascribing the whole sorry situation to the "Dems" (see here);CHEMICAL ATTACKS ON SYRIA: about Trump's unprecedented tweets against Russia and the fact that, arguably, Trump's own policies in Syria set the stage for "animal Assad's" attacks (see here - also updated with the news of the retaliatory attack 14 April).
Here's the latest one, JOINING THE TRADE PACT AGAINST CHINA, out on Friday 13 April:
Trump just woke up to the complexities of international trade. And how to push China into a corner. In the middle of his trade war with China, he has suddenly caught on to the TPP, the Trans-Pacific Trade Partnership: a clever way for the US to boost trade among Pacific-rim countries while excluding China.
In the middle of the night, this stunning mea culpa was tweeted out:
He may feel he has saved face, but in practice, this signals a major reversal in Trumpian trade policies. For once, he’d be joining an international treaty and not trying to pull it down.
And that is huge. Good for him to be able to backtrack.
I go on to analyze the damage done by the US pullout of the TPP and what might happen next now that the TPP has been signed by 11 Pacific rim countries, excluding the US.
Just as the article was about to be published with a conclusion commending Trump for his wise decision to backtrack (never easy), he blew it, coming out with a seriously absurd blast against Comey and his tell-all book, calling him (among other things) a "slime ball".
Take a look, the article is here.
Trump just woke up to the complexities of international trade. And how to push China into a corner. In the middle of his trade war with China, he has suddenly caught on to the TPP, the Trans-Pacific Trade Partnership: a clever way for the US to boost trade among Pacific-rim countries while excluding China.
In the middle of the night, this stunning mea culpa was tweeted out:
Would only join TPP if the deal were substantially better than the deal offered to Pres. Obama. We already have BILATERAL deals with six of the eleven nations in TPP, and are working to make a deal with the biggest of those nations, Japan, who has hit us hard on trade for years!— Donald J. Trump (@realDonaldTrump) 13 aprile 2018Well, only half a mea culpa. As usual, it’s Obama’s fault, and he “would only join TPP if the deal were substantially better than the deal offered to Pres. Obama.”
He may feel he has saved face, but in practice, this signals a major reversal in Trumpian trade policies. For once, he’d be joining an international treaty and not trying to pull it down.
And that is huge. Good for him to be able to backtrack.
I go on to analyze the damage done by the US pullout of the TPP and what might happen next now that the TPP has been signed by 11 Pacific rim countries, excluding the US.
Just as the article was about to be published with a conclusion commending Trump for his wise decision to backtrack (never easy), he blew it, coming out with a seriously absurd blast against Comey and his tell-all book, calling him (among other things) a "slime ball".
Take a look, the article is here.
April 7, 2018
TRUMP WATCH: DEFYING CHINA ON TRADE
Just published on Impakter. Here's the opening:
In a single tweet on 5 April, Trump gave a double whammy: against China, reminding everyone that he’s fighting China on trade, and against Amazon’s "chief lobbyist”, the hated "Fake News Washington Post":
Maybe he does, but the truth is that the Washington Post has been very good at unearthing uncomfortable news about him. For example, they were the ones who discovered he had given highly classified information to the Russian Foreign Minister and Ambassador in the course of a visit to the White House back in May 2017.
Trade War or Trade Talks?That's the real question. Are Trump’s threats of trade penalties the opening salvo of a coming trade war? Or, more simply, trade talks?
Trump has just ordered the US Trade Representative to consider coming up with levies on $100 billion more of Chinese goods (that immediately sent US stock futures tumbling). This came on top of a Chinese announcement on Wednesday that China would levy a 25 percent tariff on about $50 billion of US goods (including soybeans, automobiles, chemicals and aircraft). But the US had started it all, issuing on Tuesday a list of tariffs on $50 billion of Chinese products.
Tit for tat – and a clever tit from China...
Read the rest on Impakter, click here.
In a single tweet on 5 April, Trump gave a double whammy: against China, reminding everyone that he’s fighting China on trade, and against Amazon’s "chief lobbyist”, the hated "Fake News Washington Post":
The Fake News Washington Post, Amazon’s “chief lobbyist,” has another (of many) phony headlines, “Trump Defiant As China Adds Trade Penalties.” WRONG! Should read, “Trump Defiant as U.S. Adds Trade Penalties, Will End Barriers And Massive I.P. Theft.” Typically bad reporting!— Donald J. Trump (@realDonaldTrump) April 5, 2018Not bad for a single tweet. To anyone wondering why the Washington Post’s headline is characterized as “phony” when the news about the levying of trade penalties is real enough, the answer is fairly simple. Trump has recently engaged in an unprecedented flurry of tweets against Amazon, “ranting obsessively about it”. To the point where one is justified in wondering whether he has a personal grudge against Jeff Bezos, the founder of Amazon and owner of the Washington Post.
Maybe he does, but the truth is that the Washington Post has been very good at unearthing uncomfortable news about him. For example, they were the ones who discovered he had given highly classified information to the Russian Foreign Minister and Ambassador in the course of a visit to the White House back in May 2017.
Trade War or Trade Talks?That's the real question. Are Trump’s threats of trade penalties the opening salvo of a coming trade war? Or, more simply, trade talks?
Trump has just ordered the US Trade Representative to consider coming up with levies on $100 billion more of Chinese goods (that immediately sent US stock futures tumbling). This came on top of a Chinese announcement on Wednesday that China would levy a 25 percent tariff on about $50 billion of US goods (including soybeans, automobiles, chemicals and aircraft). But the US had started it all, issuing on Tuesday a list of tariffs on $50 billion of Chinese products.
Tit for tat – and a clever tit from China...
Read the rest on Impakter, click here.
April 4, 2018
#MeToo: Taking it to the Next Level
Also published on Impakter. Here is the opening:
Louisiana Catch by Sweta Srivastava Vikram, published by Modern History Press, 268 pages. Out on: 10 April 2018
This is a remarkable novel, a book for our #MeToo age.
To some it may look like another women’s fiction title, but it’s not. It goes beyond the recurrent themes of the genre – marriage, friends and the search for happiness, showcasing a strong woman who overcomes multiple obstacles. It brings home the universality of #MeToo, not an issue exclusive to America: It has become a number one issue around the world, India included. And it is a great read, the work of an exceptionally talented storyteller, with finely observed characters, unexpected twists in the plot and a deeply satisfying ending. This is a not-to-be-missed novel, including for those who do not normally read in the genre.
In my view, this book does something more: It adds a much needed, broader dimension to the #MeToo issue, shifting the focus squarely on sexual abuse. It’s not just a matter of recalling episodes of unpleasant groping and being threatened or blackmailed by an alpha male that can kill your career, your reputation or any hope you have for happiness. It is that too, of course, but it goes beyond. Sexual abuse is the one aspect of sexual violence that is unequivocally indefensible and morally deeply wrong, with no ifs and no buts.
And it does this in three ways.
One, the major event around which the story unfolds : A world conference on sexual violence against women - to be held in New Orleans, hence one of the reasons for the book's title. There are others, and I shall come to them shortly. Ahana is charged with the organization of this conference, a task that is a big challenge and that pushes her to her limits. The conference logo she’s picked, No Excuse, is striking. In two words, it tells us we are facing the next level after #MeToo.
Two, the major themes in the novel: sexual violence against women and stalking/bullying on social media (in this case, in an online therapy group). These are deeply serious issues you find every day in the news headlines, yet they are lightly woven in the plot. And the author manages the feat of adding a new urgency to them - this is done through two intriguing characters, two diametrically different men, who erupt in Ahana's life as she tries to organize the conference. And here we get to the other reason for the book's title: Both men are from Louisiana, including the catfisher. And right until the middle of the novel, we can’t tell which of them is actually a ‘good catch’ for Ahana and who is the one ‘catching’ her in his net. One of them is not what he seems – hence the suspense.
Three, the viewpoint: The story is told from Ahana’s standpoint and Ahana is special. Highly educated, she comes from a wealthy upper-class Delhi family. She lives in two worlds, the traditional Indian one with all its customs, including the food and the gossiping "aunties", and the Western one that she has been educated in. Tall and beautiful, an athletic yoga-practitioner, Ahana is recently divorced from Dev, a good-looking man but a sexually abusive husband.
Ahana is someone you grow to increasingly like and care about, and you find yourself wanting to tell her to stop, to be more careful about sharing personal stuff online. People throw up smoke screens, will Ahana see through them? Believe me, it’s a page turner.
Reading the book, I became curious about Sweta Srivastava Vikram, an author capable of creating such stunningly realistic characters, both Indian and American. If you peek at her bio, you discover she is of Indian origin, but she lives in America and has known entrepreneurial success in her own life just like Ahana. She has already had eleven books published, establishing her as a major poet - with only one of them (a novel) published in India, and she has won several awards.
Louisiana Catch is the first novel you publish in the United States. And you now live in New York with your husband. What inspired you to write this book? Any connection with your move to the United States?
Sweta Srivastava Vikram: Louisiana Catch is my 12th book but debut U.S. novel. My poetry books have been published in the U.S. before, but the novel is exciting on a whole different scale.
Louisiana Catch didn’t happen directly as a result of my move to the Big Apple. I moved to NYC about 20 years ago. Having grown up across three continents—India, North Africa, and the United States—and living away from home most of my life, I became an observer of cultures and people. Stories fascinate me. Inhuman behavior stirs me. Being around people inspires me.
Having said that, living in New York and being given the opportunity to discover my true identity and passion, I started to explore different themes in my writing. Raising awareness of social issues through creative writing is a big focus of my work. Louisiana Catch happened as a result of all of these factors.
Your book is clearly linked to the #MeToo movement. You put your own spin on #MeToo with the repeated use of the logo No Excuse. When you wrote your book, what was your feeling about #MeToo?
READ THE REST OF THE INTERVIEW ON IMPAKTER, CLICK HERE.
________________________________________
BIO: Sweta Srivastava Vikram, a graduate of Columbia University, was featured by Asian Fusion as “one of the most influential Asians of our time”. She is a best-selling author of 12 books and a five-times Pushcart Prize nominee. She is also a mindfulness writing coach, social issues advocate, and a certified yoga & Ayurveda counselor who helps people lead creative, productive, and healthier lives. Louisiana Catch is her debut U.S. novel and featured on U.K.'s list of "Books to Read in 2018." Born in India, Sweta lives in New York City with her husband and in her spare time, teaches yoga to female survivors of rape and domestic violence.
Website Twitter Instagram Facebook LinkedIn
________________________________________
Featured Image Credit: New Orleans: French Quarter, Exchange Place – by wallyg flickr.com
Louisiana Catch by Sweta Srivastava Vikram, published by Modern History Press, 268 pages. Out on: 10 April 2018
This is a remarkable novel, a book for our #MeToo age.
To some it may look like another women’s fiction title, but it’s not. It goes beyond the recurrent themes of the genre – marriage, friends and the search for happiness, showcasing a strong woman who overcomes multiple obstacles. It brings home the universality of #MeToo, not an issue exclusive to America: It has become a number one issue around the world, India included. And it is a great read, the work of an exceptionally talented storyteller, with finely observed characters, unexpected twists in the plot and a deeply satisfying ending. This is a not-to-be-missed novel, including for those who do not normally read in the genre.
In my view, this book does something more: It adds a much needed, broader dimension to the #MeToo issue, shifting the focus squarely on sexual abuse. It’s not just a matter of recalling episodes of unpleasant groping and being threatened or blackmailed by an alpha male that can kill your career, your reputation or any hope you have for happiness. It is that too, of course, but it goes beyond. Sexual abuse is the one aspect of sexual violence that is unequivocally indefensible and morally deeply wrong, with no ifs and no buts.
And it does this in three ways.
One, the major event around which the story unfolds : A world conference on sexual violence against women - to be held in New Orleans, hence one of the reasons for the book's title. There are others, and I shall come to them shortly. Ahana is charged with the organization of this conference, a task that is a big challenge and that pushes her to her limits. The conference logo she’s picked, No Excuse, is striking. In two words, it tells us we are facing the next level after #MeToo.
Two, the major themes in the novel: sexual violence against women and stalking/bullying on social media (in this case, in an online therapy group). These are deeply serious issues you find every day in the news headlines, yet they are lightly woven in the plot. And the author manages the feat of adding a new urgency to them - this is done through two intriguing characters, two diametrically different men, who erupt in Ahana's life as she tries to organize the conference. And here we get to the other reason for the book's title: Both men are from Louisiana, including the catfisher. And right until the middle of the novel, we can’t tell which of them is actually a ‘good catch’ for Ahana and who is the one ‘catching’ her in his net. One of them is not what he seems – hence the suspense.
Three, the viewpoint: The story is told from Ahana’s standpoint and Ahana is special. Highly educated, she comes from a wealthy upper-class Delhi family. She lives in two worlds, the traditional Indian one with all its customs, including the food and the gossiping "aunties", and the Western one that she has been educated in. Tall and beautiful, an athletic yoga-practitioner, Ahana is recently divorced from Dev, a good-looking man but a sexually abusive husband.
Ahana is someone you grow to increasingly like and care about, and you find yourself wanting to tell her to stop, to be more careful about sharing personal stuff online. People throw up smoke screens, will Ahana see through them? Believe me, it’s a page turner.
Reading the book, I became curious about Sweta Srivastava Vikram, an author capable of creating such stunningly realistic characters, both Indian and American. If you peek at her bio, you discover she is of Indian origin, but she lives in America and has known entrepreneurial success in her own life just like Ahana. She has already had eleven books published, establishing her as a major poet - with only one of them (a novel) published in India, and she has won several awards.
Louisiana Catch is the first novel you publish in the United States. And you now live in New York with your husband. What inspired you to write this book? Any connection with your move to the United States?
Sweta Srivastava Vikram: Louisiana Catch is my 12th book but debut U.S. novel. My poetry books have been published in the U.S. before, but the novel is exciting on a whole different scale.
Louisiana Catch didn’t happen directly as a result of my move to the Big Apple. I moved to NYC about 20 years ago. Having grown up across three continents—India, North Africa, and the United States—and living away from home most of my life, I became an observer of cultures and people. Stories fascinate me. Inhuman behavior stirs me. Being around people inspires me.
Having said that, living in New York and being given the opportunity to discover my true identity and passion, I started to explore different themes in my writing. Raising awareness of social issues through creative writing is a big focus of my work. Louisiana Catch happened as a result of all of these factors.
Your book is clearly linked to the #MeToo movement. You put your own spin on #MeToo with the repeated use of the logo No Excuse. When you wrote your book, what was your feeling about #MeToo?
READ THE REST OF THE INTERVIEW ON IMPAKTER, CLICK HERE.
________________________________________
BIO: Sweta Srivastava Vikram, a graduate of Columbia University, was featured by Asian Fusion as “one of the most influential Asians of our time”. She is a best-selling author of 12 books and a five-times Pushcart Prize nominee. She is also a mindfulness writing coach, social issues advocate, and a certified yoga & Ayurveda counselor who helps people lead creative, productive, and healthier lives. Louisiana Catch is her debut U.S. novel and featured on U.K.'s list of "Books to Read in 2018." Born in India, Sweta lives in New York City with her husband and in her spare time, teaches yoga to female survivors of rape and domestic violence.
Website Twitter Instagram Facebook LinkedIn
________________________________________
Featured Image Credit: New Orleans: French Quarter, Exchange Place – by wallyg flickr.com
March 30, 2018
Trump Watch: A Swipe at Amazon, But Why?
This is the latest Trump Watch article on IMPAKTER - two others were published earlier this week: one about Trump's obsession with his Border Wall (here) and the other about his thundering silence following last week-end's March for Our Lives (here) - a silence that I found truly disturbing.
So now, here is the opening of my latest article in the Trump Watch series:
TRUMP WATCH: A SWIPE AT AMAZON, BUT WHY?
EVERYBODY IS GETTING WORKED UP OVER FACEBOOK AND CAMBRIDGE ANALYTICA, BUT TRUMP HAS A GRUDGE AGAINST ANOTHER TECH GIANT: AMAZON.On Thursday he lashed out:
But there’s another good reason why: Clearly, Trump has no intention to wade into the on-going Facebook-Analytica scandal. Hot stuff, and it could burn him. The fact that the Trump campaign used Analytica’s “psychographs” to sway election results is deeply embarrassing, and it doesn’t help that to do so it used private data stolen from some 50 million American Facebook users. Moreover, Cambridge Analytica has reportedly still not deleted all the user data as promised.
To read the rest, click here.
So now, here is the opening of my latest article in the Trump Watch series:
TRUMP WATCH: A SWIPE AT AMAZON, BUT WHY?
EVERYBODY IS GETTING WORKED UP OVER FACEBOOK AND CAMBRIDGE ANALYTICA, BUT TRUMP HAS A GRUDGE AGAINST ANOTHER TECH GIANT: AMAZON.On Thursday he lashed out:
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!— Donald J. Trump (@realDonaldTrump) 29 march 2018So why this bizarre obsession with Amazon? Because Bezos, the founder of Amazon, owns the Washington Post, one of the papers Trump fears and hates? Maybe.
But there’s another good reason why: Clearly, Trump has no intention to wade into the on-going Facebook-Analytica scandal. Hot stuff, and it could burn him. The fact that the Trump campaign used Analytica’s “psychographs” to sway election results is deeply embarrassing, and it doesn’t help that to do so it used private data stolen from some 50 million American Facebook users. Moreover, Cambridge Analytica has reportedly still not deleted all the user data as promised.
To read the rest, click here.
March 23, 2018
Trump Watch: John Bolton - A Super Hawk as National Security Advisor
We've started a new series at Impakter, called Trump Watch - in a short piece, we bring our readers up-to-date on the latest developments. This is the third article in the series, my friend Hannah Fischer-Lauder and myself are working on it. But we welcome the contribution of anyone interested. Contact me (see address on my blog) or Impakter (click here: http://impakter.com/contact/). We are looking for short pieces focusing on breaking news, most of them with Trump's tweets as a starting point.
General H.R. McMaster is out, Ambassador John Bolton is in – with a tweet posted at midnight 22 March:
General H.R. McMaster is out, Ambassador John Bolton is in – with a tweet posted at midnight 22 March:
Twitter Ads info and privacyMcMaster will move out on 9 April. The job of National Security Advisor does not need Senate confirmation, so Bolton will come on-board as soon as McMaster leaves. And he will be charged with overseeing a wide range of issues, from fighting ISIS to containing China’s rising economic and military power.International diplomacy is likely to go into shock, John Bolton is not only a confirmed hawk, he is a sworn enemy of the United Nations. Read the rest on Impakter, click here.Donald J. Trump✔@realDonaldTrumpI am pleased to announce that, effective 4/9/18, @AmbJohnBolton will be my new National Security Advisor. I am very thankful for the service of General H.R. McMaster who has done an outstanding job & will always remain my friend. There will be an official contact handover on 4/9.11:26 PM - Mar 22, 201865K48.9K people are talking about this
March 17, 2018
From Brexit to Buchenwald: What the British Ambassador in Rome thinks of Italy
Stunning. The British Ambassador to Italy is currently busy surrounding his Belle Epoque residence in Rome...with barbed wire. Yes, you read that right: Barbed wire like a concentration camp. Buchenwald or Auschwitz in old Rome.
Here's a picture I took today of the walls of the Embassy and what's happening:
You can see a small part of the park (beautiful with a Roman aqueduct running through it). And the detail of the barbed wire on the right, getting unrolled and attached to the wall. I guess they will finish the work on Monday, unrolling it around the whole grounds of the embassy - very large, several acres.
And that street the Embassy is sitting on, Via Ludovico di Savoia, is in the old historic center of Rome, just a few hundred feet from the venerable Basilica of San Giovanni, the cathedral of Rome, the seat of the bishop who happens to be the Pope.
A fantastic church, here it is at night:
Source: By Livioandronico2013 - Own work, CC BY-SA 4.0
Barbed wire will definitely change the "feeling" of the neighborhood. It's an eyesore. But beyond the aesthetic problems, what does this say about how the UK feels about Italy?
Do the British really fear an attack from Italian paratroopers? A raid from the mafia, with bazookas and hand grenades? It really is insulting, it's like saying to the city of Rome: You can't defend us, we'll do it our way and who cares about how it looks. Your city is your problem.
Great diplomacy!
Or perhaps I'm totally misreading the situation. Yes, maybe they have something or someone to hide in the Embassy, a prisoner they can't allow to escape at night, hence the barbed wire...
The villa did have barbed wire around it once upon a time, during World War II when it was the Wehrmacht Headquarters (back then, the villa was the German Embassy, it went to the UK after the war, as booty). It still has the rusty remains of that first barbed wire wall, you can barely see them they're so rusty, but they are there, no doubt about it.
And here I thought all along that one day they would tear down that old rusty wire. But no, the British are conservative, nostalgic even. They love to reverse History as the Brexit vote proved. What they are doing with that bright shiny barbed wire is simply restoring past History.
Can someone tell the Ambassador that there are far less visually intrusive ways to protect UK property? The 21st century has developed excellent security systems and they can all be found in Italy - no need to import them from Britain.
Here's a picture I took today of the walls of the Embassy and what's happening:
You can see a small part of the park (beautiful with a Roman aqueduct running through it). And the detail of the barbed wire on the right, getting unrolled and attached to the wall. I guess they will finish the work on Monday, unrolling it around the whole grounds of the embassy - very large, several acres.
And that street the Embassy is sitting on, Via Ludovico di Savoia, is in the old historic center of Rome, just a few hundred feet from the venerable Basilica of San Giovanni, the cathedral of Rome, the seat of the bishop who happens to be the Pope.
A fantastic church, here it is at night:
Source: By Livioandronico2013 - Own work, CC BY-SA 4.0
Barbed wire will definitely change the "feeling" of the neighborhood. It's an eyesore. But beyond the aesthetic problems, what does this say about how the UK feels about Italy?
Do the British really fear an attack from Italian paratroopers? A raid from the mafia, with bazookas and hand grenades? It really is insulting, it's like saying to the city of Rome: You can't defend us, we'll do it our way and who cares about how it looks. Your city is your problem.
Great diplomacy!
Or perhaps I'm totally misreading the situation. Yes, maybe they have something or someone to hide in the Embassy, a prisoner they can't allow to escape at night, hence the barbed wire...
The villa did have barbed wire around it once upon a time, during World War II when it was the Wehrmacht Headquarters (back then, the villa was the German Embassy, it went to the UK after the war, as booty). It still has the rusty remains of that first barbed wire wall, you can barely see them they're so rusty, but they are there, no doubt about it.
And here I thought all along that one day they would tear down that old rusty wire. But no, the British are conservative, nostalgic even. They love to reverse History as the Brexit vote proved. What they are doing with that bright shiny barbed wire is simply restoring past History.
Can someone tell the Ambassador that there are far less visually intrusive ways to protect UK property? The 21st century has developed excellent security systems and they can all be found in Italy - no need to import them from Britain.
March 13, 2018
The Unsinkable Popularity of Blockchain Technology
This is the fourth article in the Bitcoin series published by Impakter, and the third I wrote. Articles on cryptocurrencies are welcome, if you have something to say and you're an expert, please contact me.
Here is the opening:
The 2018 Bitcoin sell off has been so violent so far – from a high of $20,000 in December 2017 to below $6000, and now hovering around $9500 – that it is a wonder the blockchain technology underpinning Bitcoin has not suffered a setback.On the contrary. The New York Times recently reported a surge in interest in Bitcoin and blockchain technology among millennials, and especially among students in major universities.Despite Professor Nouriel Roubini’s outburst on CNBC (he predicted Bitcoin’s value would fall to zero) and the warning by the European Central Bank’s President Mario Draghi that Bitcoin and other cryptocurrencies are “very risky assets”, highly respectable people in banking and academia circles continue to be interested in virtual currencies. Many still believe digital currencies can replace legacy/fiat currencies, thanks to the blockchain technology that underpins them. For example, Stanford University recently held a successful three-day conference exploring the architecture and security of blockchain software.The star is NYU Stern finance professor David Yermack who was probably the first to launch a course on Bitcoin and digital currencies back in 2014 and among the first to be called by the Bank for International Settlements (BIS) in Basel for consultations. He no doubt helped to shape the current BIS’ view on digital money, arguing for a strong case for cryptocurrency intervention – recently echoed (February 12) by the three major European regulators who warned EU residents against the risks of crypto investment. Read the rest on Impakter, click here.
Here is the opening:
The 2018 Bitcoin sell off has been so violent so far – from a high of $20,000 in December 2017 to below $6000, and now hovering around $9500 – that it is a wonder the blockchain technology underpinning Bitcoin has not suffered a setback.On the contrary. The New York Times recently reported a surge in interest in Bitcoin and blockchain technology among millennials, and especially among students in major universities.Despite Professor Nouriel Roubini’s outburst on CNBC (he predicted Bitcoin’s value would fall to zero) and the warning by the European Central Bank’s President Mario Draghi that Bitcoin and other cryptocurrencies are “very risky assets”, highly respectable people in banking and academia circles continue to be interested in virtual currencies. Many still believe digital currencies can replace legacy/fiat currencies, thanks to the blockchain technology that underpins them. For example, Stanford University recently held a successful three-day conference exploring the architecture and security of blockchain software.The star is NYU Stern finance professor David Yermack who was probably the first to launch a course on Bitcoin and digital currencies back in 2014 and among the first to be called by the Bank for International Settlements (BIS) in Basel for consultations. He no doubt helped to shape the current BIS’ view on digital money, arguing for a strong case for cryptocurrency intervention – recently echoed (February 12) by the three major European regulators who warned EU residents against the risks of crypto investment. Read the rest on Impakter, click here.
March 7, 2018
ITALIAN ELECTIONS: A GRIDLOCK THAT HURTS EUROPE
My latest article on Impakter, here's the opening:
Last week I asked you to imagine the worst and the worst happened. Gridlock. A hung parliament.
But not quite in the way I thought. The two winners – both populist, Euro-skeptic and anti-establishment – were a big surprise, even for the usually savvy financial markets and yet they didn’t see it coming: the Lega’s firebrand Salvini and Five Star Movement’s bright boy Di Maio won, and won by a big margin.
Everyone had expected Berlusconi (Forza Italia) and Renzi (Democratic Party – PD) to do better, indeed, to do well enough so that in the event of a gridlock, there would be a way out, a possible government based on a Democratic Party (PD) alliance with Forza Italia(FI). After all, Renzi and Berlusconi were on talking terms, so hopes were high, especially in the financial community that prefers to see political stability. Berlusconi himself was so confident that he had already indicated Tajani, the President of the European Parliament, as his choice for Prime Minister.
Now, of course, that won’t happen. FI got stuck at 14% (I’m rounding off all the numbers here) while the PD dropped calamitously below 19%. And that means they just don’t have the numbers to pull it off.
To read the rest, click here. It's a mess that's making Marine Le Pen and Putin happy!
Last week I asked you to imagine the worst and the worst happened. Gridlock. A hung parliament.
But not quite in the way I thought. The two winners – both populist, Euro-skeptic and anti-establishment – were a big surprise, even for the usually savvy financial markets and yet they didn’t see it coming: the Lega’s firebrand Salvini and Five Star Movement’s bright boy Di Maio won, and won by a big margin.
Everyone had expected Berlusconi (Forza Italia) and Renzi (Democratic Party – PD) to do better, indeed, to do well enough so that in the event of a gridlock, there would be a way out, a possible government based on a Democratic Party (PD) alliance with Forza Italia(FI). After all, Renzi and Berlusconi were on talking terms, so hopes were high, especially in the financial community that prefers to see political stability. Berlusconi himself was so confident that he had already indicated Tajani, the President of the European Parliament, as his choice for Prime Minister.
Now, of course, that won’t happen. FI got stuck at 14% (I’m rounding off all the numbers here) while the PD dropped calamitously below 19%. And that means they just don’t have the numbers to pull it off.
To read the rest, click here. It's a mess that's making Marine Le Pen and Putin happy!
February 26, 2018
Elections in Italy: Why They Matter for Europe and the World
My latest article on Impakter, here's the opening:
Imagine the following result from the March 4 vote in Italy: either the populist Five Star Movement led by young Luigi Di Maio (he’s 31) or the conservative right coalition, led by Berlusconi (he’s 81) and firebrand Salvini, gets an absolute majority.
What happens next? The pro-European left coalition, with the Democratic Party (PD) in the lead plus various small parties, notably Emma Bonino’s +Europe, is sent in the opposition. The head of the current government, Paolo Gentiloni and the PD secretary, Matteo Renzi, both go home.
From Left to right: M5S Leader Luigi Di Maio; Silvio Berluconi (right coalition); Matteo Renzi (left coalition, PD leader) SOURCE: WIKI COMMONS
In either case, Europe, already weakened by Brexit and threatened by the rise of “illiberal democracies” on its Eastern front (in Hungary and Poland), would be shaken to its foundation.
Why?
To find out and read the rest, click here.
February 20, 2018
CAN CRYPTOCURRENCIES EVER BECOME RELIABLE MEANS OF EXCHANGE?
This is the third article in the Impakter magazine series about Bitcoin. Written by my sociologist friend Hannah Fischer-Lauder, it explores the question of what is needed to make cryptocurrencies usable as means of exchange. Here's the beginning:
On 23 January, Stripe, the major firm that supports Bitcoin payments – it does so for more than 100,000 businesses online – announced that it would start winding down its support immediately and stop all transactions by 23 April.
A thunderbolt in a clear blue sky that caught many Bitcoin investors unprepared, did it mark a watershed in the history of digital currencies?
THE ABOVE DESCRIBES STRIPE SERVICES (SEPTEMBER 2015) SOURCE: KINETICGROWTH.COMIf Bitcoin cannot be used as a means of exchange in a potential market of 100,000 businesses, then, surely, it is the end of its role as a currency – after all, enabling transactions is one of the two fundamental roles of currencies. The other is acting as a store of value. And we all know how that went, with Bitcoin’s infamous volatility.
Let’s put the Stripe decision in perspective.
Read the rest on Impakter, click here.
On 23 January, Stripe, the major firm that supports Bitcoin payments – it does so for more than 100,000 businesses online – announced that it would start winding down its support immediately and stop all transactions by 23 April.
A thunderbolt in a clear blue sky that caught many Bitcoin investors unprepared, did it mark a watershed in the history of digital currencies?
THE ABOVE DESCRIBES STRIPE SERVICES (SEPTEMBER 2015) SOURCE: KINETICGROWTH.COMIf Bitcoin cannot be used as a means of exchange in a potential market of 100,000 businesses, then, surely, it is the end of its role as a currency – after all, enabling transactions is one of the two fundamental roles of currencies. The other is acting as a store of value. And we all know how that went, with Bitcoin’s infamous volatility.
Let’s put the Stripe decision in perspective.
Read the rest on Impakter, click here.
