The heinous crime of Thomas Wood…but he did not get to face the drop.
We have previously examined the archives of Old Bailey
proceedings for precedent offences to those of issuing Stablecoin (“coin
clipping”) and issuing Bitcoin (“uttering counterfeit currency”).
To close the loop we need to take a position on the running
of a Bit/Stablecoin exchange, and to do […]
The chaplain’s account of the demise of divers traiterous malefactors
The archives of Old Bailey proceedings are detailed in their
coverage of offences to do with the Coin of the Realm, and infringements
thereof.
In a previous blog we explored whether Stablecoin was an
example of “coin clipping” because, although supposedly backed by fiat
currency, gold, silver or whatever, it was […]
Benjamin Smith’s Treason: Clipping the King’s Coin
I count myself very lucky in the current difficulties for
many things, including having an Open University MA in English local history to
be getting on with. It is 100% remote and can be done on a social-distance or
self-isolation basis, apart from missing out on visiting fusty archives.
The current module is […]
The Euro is a currency without a Eurozone sovereign legal person backing it. Swathes of Eurozone financial assets are rated and accounted for as if there was such a legal person, whereas the backing for these assets is far less impressive.
The consequence is that the Eurozone
financial system is far less well-capitalised than it appears, and […]
I have taken on the role for one year of chair of the trade association for the UK’s Payment Institutions. This is the Association of UK Payment Institutions and I will be attempting, as my main focus, to resolve the issue around bank accounts in the UK.
Since UK banks have started their process of de-risking, […]
Important forenote
“It is a great pleasure to make this address to you as the Managing Director designate of the UK’s Payment Systems Regulator.
I would like
simply to outline the nine focus areas for the first year of my tenure in this
role.
With your
kind permission I will dispense with any flannel about the background and any
claims to great […]
The UK was a major participant in the financial bailout of the Republic of Ireland in 2010-2014, and will remain so under the Withdrawal Agreement, notwithstanding its leaving the EU.
The bailout loans from the European Financial Stabilisation Mechanism (“EFSM”), the European Financial Stability Facility (“EFSF”) and the International Monetary Fund (“IMF”) totalled EUR62.7 billion, the […]
Today Global Britain launched a joint paper written by ourselves
and Ewen Stewart, entitled “The Irish economic miracle – fact or fiction?”.
Click here to access the paper
The paper exposes how the Republic of Ireland has established
itself as a tax haven within the European Union, to the benefit of itself and
of the mainly US-parented multinationals that have […]
It is surprising to find nothing on the agenda of SIBOS conference or the SWIFT Payments Market Practice Group about the recent court decision that negates vital content of the SWIFT Message Reference Guide and BIS and PMPG documents on the subject of MT202 COV.
The issue is the extent of the MT103 sending bank’s obligation […]
Many
multinational corporates have a pooling arrangement for the cash balances owned
by their various subsidiaries. For example this could be with Bank Mendes Gans
in Amsterdam, under Dutch law, with every subsidiary holding as many currency
accounts as it needs and periodically transferring surplus balances into them,
or drawing funds out if they are needed to […]