Izabella Kaminska

London

Founder and Editor at The Blind Spot

Senior Finance Editor at POLITICO Europe

Founder Editor of The Blind Spot @theblindsp0t + Senior Finance Editor POLITICO Europe. Former Editor of FT Alphaville. Fights for the human.

Articles

In the Blind Spot: Gold and steel wars

2 weeks ago | the-blindspot.com | Izabella Kaminska

SNEAK PEEK — How central bank gold swaps may be linked to the current rally. — Why Elon's Robotaxi dreams lack basis in economic reality. — The Kashmir attack that could reshape global trade by leveraging India's hold on Europe's industrial future. Greetings, subscribers! The invitation to our Summer Party should have hit your inboxes […]Premium Blog content is for Premium and Premium Plus members only. Please log in or go to your account to upgrade your subscription.
In the Blind Spot: When the black market becomes the free market

3 weeks ago | the-blindspot.com | Izabella Kaminska

SNEAK PEEK — How Trump's tariffs could turn China’s grey markets into America’s secret weapon. — The ECB is panicking about the rise of USD stablecoins. That's not necessarily a good sign for the euro. — Why the proposed European Defense Mechanism (EDM) has something of the CDO about it. Happy Easter Monday subscribers! […]Premium Blog content is for Premium and Premium Plus members only. Please log in or go to your account to upgrade your subscription. To subscribe go to the subscription page.
In the Blind Spot: Breaking the People’s Bank of China

1 month ago | the-blindspot.com | Izabella Kaminska

SNEAK PEEK — Why the 90-day pause and exemptions on U.S. tariffs don't represent capitulation but are rather classic "art of the deal". — Reminder that the Trump administration's whole objective is transforming exorbitant privilege from a right into a service. — Now is probably a good time to familiarize ourselves with the dollar's prominent […]Premium Blog content is for Premium and Premium Plus members only. Please log in or go to your account to upgrade your subscription.
In the Blind Spot: Global shock therapy and the rise of the American Mittelstand

1 month ago | the-blindspot.com | Izabella Kaminska

SNEAK PEEK — THE ULTIMATE MAGA TARIFF Q&A: You've seen the mainstream take on Trumpian tariffs. We answer all your questions about the counter perspective. — Does Trump's pardoning of HDR Global Trading give us a hint about what they're planning for dollar liquidity management? — The return of MEFO bills. Oh yeah. Good […]Premium Blog content is for Premium and Premium Plus members only. Please log in or go to your account to upgrade your subscription. To subscribe go to the subscription page.
U.S. tariffs as an attack on the rentier class

1 month ago | the-blindspot.com | Izabella Kaminska

This Palm Sunday, as Christians around the world mark the day Jesus drove the moneylenders from the temple, a different sort of cleansing might be underway on Wall Street — one targeting America’s rentier class. As we’ve argued before, regardless of whether you are pro or anti Trump’s tariff onslaught, it’s important to recognize the […]Spotlights content is for Premium Plus members only. Please log in or go to your account to upgrade your subscription. To subscribe go to the subscription page.
The Fed’s quiet pivot to servicing intraday liquidity - and why it matters

1 month ago | the-blindspot.com | Izabella Kaminska

Quite an important tweak happened to the U.S. financial system last week that you might have missed. And we at The Blind Spot consider it our duty not just to draw attention to it but to frame it in the broader context of what’s actually going on under the hood of modern monetary plumbing. From […]Spotlights content is for Premium Plus members only. Please log in or go to your account to upgrade your subscription. To subscribe go to the subscription page.
In the Blind Spot: Exorbitant privilege as a service

1 month ago | the-blindspot.com | Izabella Kaminska

SNEAK PEEK — The risky attempt to transition from an era where America provided the world with liquidity for free to one where access to the dollar is a premium service. — U.S. Treasury Secretary Bessent provides some more clues about how a U.S. sovereign wealth fund might work. — Ask not what the […]Premium Blog content is for Premium and Premium Plus members only. Please log in or go to your account to upgrade your subscription. To subscribe go to the subscription page.
In the Blind Spot: The incoming ‘Trump Pump’

2 months ago | the-blindspot.com | Izabella Kaminska

SNEAK PEEK — Still struggling to understand what the great Trumpian economic restructuring is all about? Think reverse ESG. — It's not a tariff on money. It's Regulation Q in reverse. — We ask what role will private military contractors play in a Ukraine peace deal? Good morning subscribers! We've spent some time this […]Premium Blog content is for Premium and Premium Plus members only. Please log in or go to your account to upgrade your subscription. To subscribe go to the subscription page.
It's not 'Military Keynesianism', it's 'Military Thatcherism'

2 months ago | the-blindspot.com | Izabella Kaminska

"Surplus production provokes a destructive backlash that precludes civilization for societies that do not have, or cannot build, defense capabilities. Yet, an optimal first public choice offers a resolution to the paradox of civilization along two paths. One is being twice-lucky in terms of growth and defense capabilities. The other is to create artificial defense […]Spotlights content is for Premium Plus members only. Please log in or go to your account to upgrade your subscription.
The DSR: A Bretton Woods for War?

2 months ago | the-blindspot.com | Izabella Kaminska

A coalition of former NATO officials, European defense leaders, and financial elites is pushing for the creation of a Defense, Security, and Resilience (DSR) Bank. This is a proposed £100 billion military finance institution designed to underwrite Western defense spending. Styled as an IMF for war, the DSR Bank would issue AAA-rated bonds to raise […]Spotlights content is for Premium Plus members only. Please log in or go to your account to upgrade your subscription.