Nick Corbishley

1 month ago | nakedcapitalism.com | Yves Smith |Nick Corbishley

Imagine a technology that could facilitate an unprecedented expansion of totalitarian power in the hands of the ECB and EU Commission. What could possibly go wrong?

1 month ago | nakedcapitalism.com | Yves Smith |Nick Corbishley

This time, it’s not just Wall Street banks that should be worried about the contagion risks from a full-blown banking crisis in Mexico. So, too, should their European counterparts. Moody’s has changed the outlook of the Mexican banking system from positive to negative due to the ongoing tariff tensions with the United States and the country’s economic slowdown.

1 month ago | nakedcapitalism.com | Yves Smith |Nick Corbishley

While the programmability features of CBDCs have generated considerable alarm, it’s a very different story for the stablecoins that the US government seeks to regulate with its “GENIUS” act. The Guiding and Establishing National Innovation for U.S. Stablecoins act, aka the “GENIUS” Act, introduced by Republican Tennessee Senator Bill Hagerty on February 4, was under debate this week as the Senate Banking Committee prepared to vote on its proposed measures.

1 month ago | nakedcapitalism.com | Yves Smith |Nick Corbishley

It is also a major victory for Wall Street. But what could it mean for China’s trade relations with Latin America, in particular the US’ largest trade partner Mexico? Midway through last week, as the economic reverberations from Trump’s latest round of tariffs spread around the world, the Hong Kong-based (and Cayman Islands-registered) conglomerate CK Hutchinson Holdings caught global markets off guard.

1 month ago | nakedcapitalism.com | Yves Smith |Nick Corbishley

For readers who may be wondering why the above title features the name “Milei” in plural, there is a simple reason: the Milei clown show is a double act. The Argentine President Javier Milei has a sister, Karina, who, as his former campaign manager and current General Secretary of the Presidency, essentially manages his political agenda and personal expenses. She is, as her brother frequently describes her, “la Jefa” (the boss).