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Scott James @drscottjames.bsky.social · 53m

Opposing perspectives on the UK’s macro predicament, but both of which echo postwar left and right narratives about declinism rooted in pathologies of the British state, ie. BOE orthodoxy vs Westminster politics

Scott James @drscottjames.bsky.social · 2d

Fama: ‘Bitcoin is going to zero within 10 years…or we’ll need to start all over with monetary theory’
www.capitalisnt.com/episodes/why...

Why This Nobel Economist Thinks Bitcoin Is Going to Zero, with Eugene Fama | Capitalisn't

In December 2024, Bitcoin, one of the earliest cryptocurrencies and undoubtedly the most famous, hit $2 trillion in market capitalization, bigger than Tesla, Meta, and Saudi Aramco. In this episode, N...

www.capitalisnt.com

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Scott James @drscottjames.bsky.social · 4d

‘Treasury officials privately queried the size of the potential windfall…but the OBR does not score asset seizures in its forecasts and crypto assets are not recorded as financial assets for the purpose of fiscal statistics, one Treasury official said.’ 🙁
www.ft.com/content/9b01...

UK seeks to keep £5bn bitcoin haul after money laundering convictions

Complex legal battle over seized assets could run for years

www.ft.com

Scott James @drscottjames.bsky.social · 4d

Onto central bank balance sheets presumably

R @ersquare.bsky.social · 4d

Wasn’t the entire point to move risk away from banks? Now we want to move risk away from NBFI too? Where will it go? To NNNBFI (Non-NBFI Non-Bank Financial Institutions)?

Financial Times @financialtimes.com · 4d

Christine Lagarde calls for tougher rules on ‘darker corners’ of finance on.ft.com/3VKr7BF

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Scott James @drscottjames.bsky.social · 4d

London calling 🚨
Turbocharging stablecoins 🤝 DeFi-ing the digital pound?
www.bloomberg.com/opinion/news...

Reposted by Scott James

Paul J Davies @pauljdavies.bsky.social · 6d

This line right at the end of Bailey’s stablecoin piece seems the most significant and radical idea to me: “we will set out that widely used UK stablecoins should have access to accounts at the BoE in order to reinforce their status as money”.
gift lnk
on.ft.com/3IQ9NYU The new stablecoin regime

The new stablecoin regime

An innovative technology must still answer old central banking questions

on.ft.com

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Reposted by Scott James

Tony Yates @t0nyyates.bsky.social · 12d

A lot depends on what he spent it on. He’s set off on a very bad foot (if he’s set off anywhere at all) because you can’t ignore those who are considering lending to you.

Ben Winkley @benwinkley.bsky.social · 12d

Burnham: I don't think the bond market should dictate what we can and can't do

Bond market: Woah, woah, woah, you can't say that

on.ft.com/3IfUrNh

Andy Burnham’s borrowing plans would spook gilt market, investors warn

Fund managers say fresh borrowing spree would drive up gilt yields and dent the pound

on.ft.com

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Scott James @drscottjames.bsky.social · 13d

3 years 🥹

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Scott James @drscottjames.bsky.social · 15d

We’re now a truth social post away from weaponised swap lines ⏰

Ron Filipkowski @ronfilipkowski.bsky.social · 15d

Sounds like the US is about to bail out Trump’s pal Javier Milei. ‘America First’ always has lots of exceptions.

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Scott James @drscottjames.bsky.social · 15d

New article with Lucia Quaglia examining the EU’s defensive statecraft to defend financial sovereignty around central clearing houses and Bigtech digital platforms, in Journal of International Economic Law
doi.org/10.1093/jiel...

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Scott James @drscottjames.bsky.social · 18d

Admittedly far beyond the scope of what’s proposed here, but arguably a category error to assume that a decentralised blockchain is a natural evolution of postwar eurodollar markets when it represents something entirely new

Scott James @drscottjames.bsky.social · 18d

Feels like a well worn path but raises many questions:
1) What exactly would the UK be aligning with given all the US loopholes?
2) How will issues of multi issuance / cross-border redemptions be managed?
3) Ultimately will the Fed backstop all this with swap lines?
www.ft.com/content/3b81...

UK set to announce closer co-operation with US on cryptocurrencies

Chancellor Rachel Reeves hopes greater regulatory alignment will allow better access to America’s deep capital markets

www.ft.com

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Scott James @drscottjames.bsky.social · 18d

Feels like a well worn path but raises many questions:
1) What exactly would the UK be aligning with given all the US loopholes?
2) How will issues of multi issuance / cross-border redemptions be managed?
3) Ultimately will the Fed backstop all this with swap lines?
www.ft.com/content/3b81...

UK set to announce closer co-operation with US on cryptocurrencies

Chancellor Rachel Reeves hopes greater regulatory alignment will allow better access to America’s deep capital markets

www.ft.com

1

Scott James @drscottjames.bsky.social · 19d

IMF going all in on stablecoins right now
www.imf.org/en/Publicati...

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Scott James @drscottjames.bsky.social · 19d

Trump’s crypto policy to ‘save the dollar’ from…Trump’s tariff policy?https://www.ft.com/content/0d40abd6-70e3-4332-80e4-aa852cb9f026

Eric Trump says crypto can ‘save the US dollar’

President’s son predicts inflow of digital asset wealth from overseas would bolster US currency

www.ft.com

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Scott James @drscottjames.bsky.social · 20d

Fwiw, Labour will likely be paying a ‘Farage premium’ on gilt yields long before Parliament is dissolved

Scott James @drscottjames.bsky.social · 20d

An important reminder that the outcome of the next election is unlikely to be a Brexit or Truss mini budget-level event in the eyes of bond investors www.ft.com/content/a97d...

Nationwide chair attended breakfast with Reform UK

Kevin Parry is one of the first senior UK bank executives to engage with Nigel Farage’s rightwing populist party

www.ft.com

Scott James @drscottjames.bsky.social · 20d

Vibes

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Scott James @drscottjames.bsky.social · 20d

An important reminder that the outcome of the next election is unlikely to be a Brexit or Truss mini budget-level event in the eyes of bond investors www.ft.com/content/a97d...

Nationwide chair attended breakfast with Reform UK

Kevin Parry is one of the first senior UK bank executives to engage with Nigel Farage’s rightwing populist party

www.ft.com

1

Scott James @drscottjames.bsky.social · 22d

Turkey 🧐

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Scott James @drscottjames.bsky.social · 22d

Ultimately the prospect of expanding sterling stablecoins backed by short term gilts will be a huge temptation for any future government
www.imperial.ac.uk/business-sch...

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Scott James @drscottjames.bsky.social · 22d

Aside from whether the UK outlier position on stablecoins proves sustainable, the bigger systemic issue is the scale and scope of the prospective clash between the BOE and a future Reform-led government

Financial Times @financialtimes.com · 23d

Crypto groups hit out at BoE plan to limit stablecoin ownership on.ft.com/4gouAyY

Crypto groups hit out at Bank of England plan to limit stablecoin ownership

Proposals would give UK much stricter rules for market than US or EU

on.ft.com

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Scott James @drscottjames.bsky.social · 26d

🚨 This year marks the last intake of undergrads born prior to the global financial crisis.

What do concepts like neoliberalism and polycrisis even mean when your only historical reference point is Covid?

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Scott James @drscottjames.bsky.social · 28d

Are we seeing the rise of tech financed pop-up political movements?
the-blindspot.com/repost-the-t...

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Scott James @drscottjames.bsky.social · 28d

Coming Soon, The Token Economy

Trump posited that lots of real-world assets could benefit from a marriage with crypto. "Why is it that if I wanted to refinance Trump Tower, I couldn't tokenize this asset and put it on the street for billions of people to invest in it.”
www.wsj.com/finance/curr...

How Eric Trump Became One of Crypto’s Greatest Evangelists

The real-estate executive has been at the vanguard of the first family’s rapid entry into the cryptocurrency business.

www.wsj.com

Scott James @drscottjames.bsky.social · 29d

Sounds a bit Anglofuturism to me. Makes a bit more sense here
the-blindspot.com/repost-the-t...

Repost: The techbro movement that won’t let Britain decline – The Blind Spot

the-blindspot.com

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Scott James @drscottjames.bsky.social · 29d

The mid-90s policy vacuum also provides fertile ground for new pop-up groups / think tanks like Looking for Growth
lookingforgrowth.uk

Looking For Growth

End decline. Save Britain

lookingforgrowth.uk

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