The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
伦敦——
国际清算银行近期报告指出,国际外汇市场每日的交易额高达4万亿美元,2007年此数据是3.3万亿。虽然外汇贸易规模之巨引人瞩目,屡上头条,但是外汇的交易方式也同样重要——近年来,交易方式蓬勃发展。
任何入门金融教材都会说,投资者注重的是他们整个投资组合的盈利,而非其中某一项资产的盈亏。投资者珍视与整个市场走势不相关的资产,而与市场负相关的资产则更受青睐。拥有这样的资产会使总盈利更加稳定。
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