BitCoin: China's GKO Moment

In August 1998, LTCM collapsed after its Ruble forward contracts proved illiquid, as the Russian bank counter parties, themselves, had invested their own reserves into the very same GKO's that the foreign GKO speculator sought to hedge. That the GKO debacle coincided with the strategic START II/III negotiations isn't »

Lufax & Chinese Crypto-Torture

Ping An Insurance, one of the most successful Chinese equities in the past year (until this summer), has a problem. Lufax, its p2p lending company. The growth and profitability of this platform has been carried by the BitCoin and broader cryptocurrency bull market. In fact, it can be argued that »

Why Thiel & Bezos Hate Each Other: Gawker

To give some context for the oligarch wars, today, we shall appeal to hallowed antiquity. Gawker Outed Thiel as Gay Normally, for a typical progressive oligarch, this would be a neutral to even positive event. However, those behind and supporting Gawker sought to undermine Thiel with this attack. Bezos Supported »