EndrTimes: Finance

Showing posts with label Finance. Show all posts

Monday, August 31, 2026

G20 finance meeting in Asheville

Wednesday, March 25, 2026

Why the World’s Money Flows Through New York

Thursday, November 06, 2025

The cost of Zohran

The cost of Zohran

Mayor Mamdani’s policies are guaranteed to wreck New York City

Heather Mac Donald

William F. Buckley Jr. once quipped that he would rather be governed by the first 2,000 names in the Boston phone book than by the Harvard faculty. New York City is about to be governed by the Columbia University student body. A city that used to think of itself as grown up has just elected a mayor who seems the very embodiment of the American college student: uninformed, entitled and self-important, enjoying a regal quality of life that depends parasitically upon a civilization about which he knows nothing, yet for which he has nothing but scorn.

American college students regularly act out little psychodramas of oppression before an appreciative audience of diversity deanlets and associate vice-provosts of inclusion and belonging. Zohran Mamdani, the quintessential product of the academy, is poised to take such performative grievance to one of the biggest stages in the world. The results will not be pretty.

Mamdani’s governing agenda reflects his family background, education and negligible post-college career. Now 34, he was born in 1991 to a professor of postcolonial studies and a filmmaker. The family moved to New York City from Uganda in 1999 so that Mamdani’s father, Mahmood, could teach in Columbia University’s Middle Eastern, South Asian and African Studies Department and direct the university’s Institute of African Studies. The young Mamdani imbibed academic anti-westernism at the family dinner table, which hosted such leading lights of postcolonial studies as Columbia’s Edward Said and Rashid Khalidi.

Mamdani fashions himself a champion of the working class. He chose not to attend New York’s most storied working-class college, the public City College of New York (then $6,330 a year), however, in favor of the private Bowdoin College, a bucolic, secluded retreat in Maine (then $59,900 a year). The centuries-old New England institution grew out of the finest ideals of America’s Founders; it boasts Nathaniel Hawthorne, Henry Wadsworth Longfellow, US president Franklin Pierce, Supreme Court justices, decorated Civil War generals, abolitionists and industrialists among its graduates.

The Vulture Tower (Bank of International Settlements) [OD_2021_12_28] BPI

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P.S.

AI Overview

The Bank for International Settlements (BIS) is an international financial institution owned by its member central banks that fosters global monetary and financial cooperation and serves as a bank for central banks. It acts as a forum for discussion, a center for research, and a prime counterparty for central banks in financial transactions. Established in 1930, its headquarters are in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

Ownership:
The BIS is owned by member central banks, which collectively account for about 95% of world GDP.

Purpose:
Its primary goals are to promote international monetary and financial cooperation and stability, and to act as a bank for central banks. It does not provide services to private individuals or corporations.

Activities:
The BIS organizes meetings for central bankers, publishes research and statistics, and develops standards for international banking, such as capital and risk management regulations.

Structure:
Its management is directed by a General Manager who reports to the Board of Directors.

History:
It was established on May 17, 1930, in the context of the Young Plan to handle the German reparation payments from World War I, but its functions have since evolved to serve as a forum for central banks.

Sunday, October 26, 2025

Financial Crash & Burn: The Crises is Upon Us

Monday, September 22, 2025

Tri-State Senators on what it needed to reach bipartisan agreement to av...

Thursday, September 11, 2025

Is This How the West Ends?

Thursday, July 24, 2025

The insights provided by the currency in circulation regarding the economy

The spike in transactions done through UPI, credit and debit cards, and online and mobile banking in the last decade indicates that India has a safe, secure, and reliable digital payment infrastructure.

Vasant G Hegde Soumyadip Roy

Last Updated : July 21, 2025

Within nine years of its launch, India’s Unified Payments Interface (UPI) has emerged as the leading digital payment platform, recently clocking 650 million transactions and surpassing Visa, which is one of the oldest and largest digital payment networks. Notably, Visa recorded a daily average of 640 million transactions in FY24. This trend might suggest—or even mislead people into thinking—that India is steadily becoming a less cash-dependent economy. However, an examination of the cash in circulation (CIC) in the economy between the demonetisation period, i.e., November 2016, and today shows that CIC has more than doubled from Rs 17 lakh-crore to Rs 37 lakh-crore. What explains these two seemingly divergent trends?

CIC is a key indicator for understanding the structure of any economy. The higher the CIC, the larger the informal sector tends to be. CIC also captures public preference for cash over digital transactions. A high level of cash usage can also frustrate the central bank’s initiatives towards financial inclusion. While the absolute amount of cash increases as the economy grows, CIC as a percentage of gross domestic product (GDP) offers valuable insights into payment habits of people and the effectiveness of monetary policy. Demographics also play a role in demand for cash: young India is more inclined towards digital transactions over cash, while cash usage typically spikes during general and state assembly elections. Households often overlook the opportunity cost of holding cash, resulting in a double whammy: loss of income and the erosion in the real value of money.

Faith-based groups note “critical moment” for global financial transformation

In a message coinciding with the 4th International Conference on Financing for Development, faith-based groups representing more than 600 million Christians worldwide noted a “critical moment” for global financial transformation.

Photo: Ivars Kupcis/WCC

27 June 2025

NIFEA

Sustainability and Economy of Life

“The world today is grappling with a convergence of unprecedented economic, political, social, and environmental crises,” reads the message from the World Council of Churches, World Communion of Reformed Churches, Lutheran World Federation, World Methodist Council, Council for World Mission, and United Society Partners in the Gospel.

The message notes that, while the wealth of multi-millionaires and billionaires continues to soar, the vast majority of people struggle with rising costs for basic necessities, such as food and housing, and declining living standards.

“This deepening inequality has eroded trust in public institutions, weakened democratic systems, enabled corporate influence over state policy, and hindered progress on urgent climate action, reinforcing a vicious cycle of disparity and disempowerment,” reads the message. “We are amid an escalating crisis of biodiversity loss and climate change that threatens livelihoods and poses an existential risk to all life on Earth.”

Climate change also worsens sovereign debt burdens, the message notes.

BRICS Press Breifing

Russian Foreign Minister Sergey Lavrov and Vietnam’s Deputy PM & Foreign Minister Bui Thanh Son speak to the media following high-level diplomatic talks.