Welcome to Eureka Street

back to site
Forgot your password?
Subscribe

Keywords: Crypto

  • INTERNATIONAL

    The rise and fall of the Crypto King

    • Max Jeganathan
    • 21 November 2023
    1 Comment

    The spectacular rise and fall of Sam Bankman-Fried is a story that began with unfettered brilliance and financial wizardry, but quickly unraveled into an all-too familiar cautionary tale of swindlers, conmen, and morally vacuous ambition. 

    READ MORE
  • ARTS AND CULTURE

    The disquieting lessons of Ian McEwan

    • Peter Craven
    • 14 June 2023

    Ian McEwan's Lessons marked a sharp twist in a five-decade literary career, and presents an opportunity to reflect on his expansive body of work. The one-time literary rogue and Booker laureate now stands as the unquestioned doyen of modern English fiction, his audacious work perpetually navigating undercurrents of unease.

    READ MORE
  • ECONOMICS

    In finance, story matters most

    • David James
    • 16 November 2022
    1 Comment

    Financial markets are made up of human beings and human beings have always been storytellers — long before science, or modern finance, or accounting even existed. Accordingly, the main skill of successful analysts, advisers, financial gurus and commentators is the construction of compelling narratives. They are, if not exactly creators of fairy stories, not too far removed from it. 

    READ MORE
  • ECONOMICS

    Why debt forgiveness may be inevitable

    • David James
    • 25 July 2022
    3 Comments

    Monetary authorities are caught in an impossible situation. Inflation is rising: it is over 5 per cent in Australia and over 9 per cent in the United States. Inflation is often seen as a way out of excessive debt because it erodes the real value of money and therefore the real value of the debt. But what is increasingly being discussed are ways to cancel the debt.

    READ MORE
  • ECONOMICS

    Rising interest rates point to a larger problem

    • David James
    • 28 June 2022
    3 Comments

    The question that should be posed is how effective has the Reserve Bank been at ‘managing’ the economy and financial system? ‘Not very’, has to be the answer. Not that the RBA is alone. The same pattern has been seen across the developed world. Central banks have one weapon at their disposal, the cost of money (the interest rate), and there is not much evidence they have used this tool to make their systems sustainable. Mostly, they have made matters worse. 

    READ MORE
  • ECONOMICS

    Teetering on the financial brink

    • David James
    • 08 June 2021
    4 Comments

    An often overlooked fact about the financial system is that it entirely depends on trust. When trust starts to evaporate, especially between the big players such as banks and insurance companies, the whole artifice is put into peril. Trust in the system is now at an extreme low and that points to extreme danger.

    READ MORE
  • ECONOMICS

    NZ's riposte to modern economic myths

    • David James
    • 02 July 2019
    5 Comments

    While money can be transacted for things that are bad — air pollution, road deaths, cigarette ads — as long as more transactions occur, it creates the illusion the economy is growing, which, ipso facto, is good. Thus, Japan's GDP rose sharply after the tsunami disaster. New Zealand's initiative will track better what is really happening in the country.

    READ MORE
  • ECONOMICS

    Compound interest is the root of banks' evil

    • David James
    • 04 December 2018
    7 Comments

    The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate 'culture'. The fundamental evil is the arithmetic of compound interest. Interest on debt rises exponentially, while economic activity is linear. That means that sooner or later those in a weaker position are unable to pay.

    READ MORE
  • AUSTRALIA

    Anti-communism in the Liberal Party from Menzies to Turnbull

    • Evan Smith
    • 01 September 2017
    12 Comments

    Earlier this year, Turnbull made a speech in London where he called for the Liberal Party to return to its ideological base as laid out by Sir Robert Menzies. Turnbull suggested that the Liberal Party under Menzies was the socially conservative party that many on the LNP's right wish it to be, but it seems that what the Liberals have taken from the Menzies era is a revival of anti-communist rhetoric.

    READ MORE
  • ECONOMICS

    Where is money headed?

    • David James
    • 30 July 2017
    2 Comments

    The daily fluctuations of financial markets and the fractious debates over economic policy are concealing something deeper and much more disturbing. The future of money itself is in question. A decade after world banking almost collapsed in the global financial crisis, the questions raised have not been answered.

    READ MORE
  • ECONOMICS

    Bitcoin revolution is a matter of trust

    • David James
    • 30 June 2017
    2 Comments

    One of the more interesting recent developments in finance has been the creation of Bitcoin and other crypto-currencies. They are being touted as a revolution in how we think and use money. Alternately, there are many who want to go in the opposite direction, back to the gold standard. Both sides have a common enemy: money whose value is determined by government dictate. Allowing governments to dictate in this way, they argue, is the core of the problem. To a significant extent, they are wrong.

    READ MORE
  • RELIGION

    Da Vinci's conspiracy of cryptography

    • Michael McVeigh
    • 18 May 2006
    3 Comments

    The Da Vinci Code would be a far more liberating experience for the reader if it was about asking questions, rather than unlocking answers.

    READ MORE