A Simple General x5?: EI Weekend?3051

Nixon’s resignation, TayTay & Maritime order facing up to terror. An IPO goes from $25b to 0 as Milei retains support.

Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.

Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.

On this day in 1921, The Future Trading Act providing for the regulation of futures trading in grain (corn, wheat, oats, rye, etc.) was enacted. It empowered the Secretary of Agriculture to designate exchanges as “contract markets” in grain futures as well as imposing a prohibitive tax of 20 cents per bushel on all options trades and on grain futures trades not executed on a designated contract market.

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MACRO THOUGHTS

Map Shows Which Countries Eat The Most Meat

Newsweek

What Attacks On Shipping Mean For The Global Maritime Order

Atlantic Council

IN BIGWORLD

From Exchange Invest 3050: August 16th:

Only 1421 days until the next Olympics begin in LA.

Baseball and cricket will be welcome additions to the show.

EXCHANGE INVEST WEEKLY?PODCAST

Another Week Of Entrenched Mediocrity At ASX,

LSEG’s Terminal Troubles,

& Blue Ocean Upgrades

The Exchange Invest Weekly Podcast 259

BITCARNAGE

It’s All Money Laundering!

…According to China, it’s impossible to be AML if you are in crypto as China Classifies Crypto Transactions As Money Laundering In Update To AML Law (Decrypt) / China Supreme Court Revises Anti-Money Laundering Law To Include ‘Virtual Assets’ (Cointelegraph).

Meanwhile, one nation’s money laundering is another territory’s wages: as a Dubai Court Recognizes Crypto As Valid Salary Payment: Law Decoded (Cointelegraph) / What A Dubai Court Ordering A Company To Pay Its Employee In Crypto Means (Yahoo Finance).

If you enjoyed this excerpt you may be interested to know that you can read Bitcarnage every day in Exchange Invest.

Alternatively, if you want to follow Bitcarnage?—?the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.

OF INTEREST

As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!

My Ringside Seat At The Nixon Resignation Melodrama

The Spectator

Just Stop Oil Is Too Crude To Succeed

Reaction Life

We Were Supposed To See Taylor Swift In Vienna. We Learned A Surprising Lesson About Human Nature Instead

Yahoo

$25 Billion To Zero: Bill Ackman’s Bungled IPO

WSJ

“The Chainsaw Never Stops.” Milei’s Support Survives His Economic Experiment

Yahoo

PLY: The smugerati had convinced themselves that Javier Milei could never win. Once he, er, won, they convinced themselves his support would evaporate when he cut spending and actually led the Argentine nation. Now, it’s the worry that the UK has a spendthrift post Peronist President complete with a horrible anti-liberty agenda as in the US it’s loopynomics a go go on the hustings as crazy Kamala seeks to ignore economic gravity. Back in Buenos Aires, the Argentines appreciate fixing a broken economy needs some hard decisions instead of endless pork barrel politics. Besides Milei is making clear progress, even if it is painful.

(Argentina Posts Largest Monthly Primary Surplus Yet Under Milei | Reuters) while social media is a key tool for Milei too: Can Javier Milei Rely On Social Media To Shake Up Argentina? (FT).

Books worth reading:

FINANCE BOOK OF THE?WEEK

“FinTech For Dummies” by Brendan Bradley examines the depth and breadth of financial technology. A comprehensive, hands-on guide is the go-to source for everything you need to confidently navigate the ever-changing scene of this booming industry.

Brendan Bradley was our IPO-VID 085: Evolving Markets, Evolving Careers guest.

Get the book here.

*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.

Suggestions welcome if you would like to nominate a book for us to cover!

Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.

& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest?—?via Exchange Invest.com?—?it’s only $375 per annum to join “The Exchange of Information.

CAPITAL MARKET REVOLUTION

First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp

This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!

Get the book here.

*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.

LAST WORD

…If you want to stay abreast of the world of exchanges then please Subscribe to our Daily Newsletter?—?free 7-day trial.

Or Subscribe to our Weekend Edition?—?it’s free.

You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.

Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.

At the least can you like this article, or leave us a comment, we welcome your feedback.

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