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To: bull_dozer who wrote (208663)	10/27/2024 9:50:01 PM
From: TobagoJack	Respond to of 219972

*>> THE FCKING FCK* Monday morning, waiting for gold to rise bloomberg.com The Most Disruptive Technology in Human History Nothing has been quite as transformational as money, explains author and economist David McWilliams. Gone but not forgotten: a Greek 1,000 drachma coin dating from 1999. Photographer: Simon Dawson By John Stepek 25 October 2024 at 20:13 GMT+8 Welcome to the award-winning Money Distilled newsletter. I’m John Stepek and this is the Friday Roundup, where we review the week’s news, discuss the latest Merryn Talks Money podcast and link to various intriguing topics that arose this week. Money is history’s most disruptive technologyIt’s been a hectic week, what with Prime Minister Keir Starmer (via a careless choice of words) saying that shareholders aren’t working people, and sweeping speculation about what the Budget might hold — the most pertinent of which for the readership of this newsletter is probably the threat to impose employer National Insurance on pension contributions. Amid all that, you might ponder the point of putting aside any money for your kids, but that sort of pessimism won’t get you through the coming week. So you’ll be glad to hear that Merryn and I had a good chat about Junior ISAs and what you should consider before you decide to put any money into them. Also, when Merryn popped out for a little break this week, I sneakily got Mr. Marcus Ashworth back into the podcast booth and we had a good natter about what the record-breaking gold run tells us about the state of the world, and Marcus put me straight about various geopolitical conspiracy theories (the spoilsport). One of the world’s oldest forms of money has had a pretty decent week.Photographer: Ore Huiying/BloombergSpeaking of gold — that takes us to this week’s main episode, in which Merryn interviews the economist and author David McWilliams about his new book, Money: A Story of Humanity. Honestly, while I know I’m biased, I think Merryn Talks Money is a great podcast, with great guests, and consistently high standards (particularly the ones without that Scottish guy). But this episode is one of the best yet. Share it with your pals who don’t care about finance, but perhaps enjoy The Rest Is History (I’m a fan too). This’ll be right up their street. How Money Has Shaped All of Human History Disruption: Money is a social technology. You’ve perhaps heard it phrased that way before and it is becoming the dominant “paradigm,” but I haven’t seen anyone make the case as clearly, or as entertainingly, as McWilliams. Almost right from the start, money in one form or another has been there. And it’s played a key role in enabling every other critical evolutionary development throughout human history, from the discover of writing to fine art (McWilliams posits that Leonardo Da Vinci might never have made his name had it not been for an earlier Leonardo). Aye very clever, but where would you be without Fibonacci, eh? Denarii: How and why did the Emperor Tiberius cause and then cure a massive credit crunch in Ancient Rome? McWilliams explains what happened and tells Merryn why he reckons Ben Bernanke could’ve learned a thing or two (Bernanke clearly doesn’t spend enough time thinking about the Roman Empire). Dominion: Was the massive and rapid success of Christianity in part a societal immune response to the disruptive rise of meritocracy and commercialisation, as Rome became an increasingly monetised economy? I’m not entirely sure what I think of this presumably rather contentious argument, but it’s a fascinating one to ponder. The Vatican: built on money?Photographer: Alessia Pierdomenico/BloombergDemocracy and the Drachma: How coinage enabled democracy in ancient Greece, and the EU destroyed one of the world’s oldest surviving currencies. Debasement: What links the fall of the Roman Empire, the French revolution, the US Civil War, and a failed Nazi plot to bring down Britain from within during World War II? The devaluation of currency, either deliberately or accidentally. Dante: This, incidentally, is why a very specific group of sinners are allocated the floor of Hell just above Satan’s in Dante’s inferno. There's a reason we go to incredible lengths to prevent counterfeiting.Photographer: Simon Dawson Destabilising: One of money’s most potent qualities is that it enables us to live in the future, says McWilliams. That’s why it needs to be treated with respect. Since the great financial crisis in 2008, we’ve been playing fast and loose with that respect, which has played a major role in the political unrest we’ve seen in the last decade or so. Don’t get upset (if you’re a Bitcoin fan): Trigger warning — McWilliams has come up with perhaps the most gently damning metaphor for Bitcoin I’ve heard yet. I won’t spoil it for you. If after all that, you fancy reading the book (and you should), here’s the details again — Money: A Story of Humanity.

To: bull_dozer who wrote (208663)	10/27/2024 10:07:26 PM
From: TobagoJack	Respond to of 219972

just got amazon.com referenced by Bloomberg here Message 34882320 Money: A Story of Humanity by David McWilliams (Author) Format: Kindle Edition 4.7 4.7 out of 5 stars 46 ratings THE INTERNATIONAL BESTSELLER ‘A breathtaking, expansive and imaginative ride through the history and future of money from an author who truly understands it’ PROFESSOR BRIAN COX ‘Exceptional’ FINANCIAL TIMES ‘A cracking book that is as enjoyable as it is readable’ PETER FRANKOPAN ‘Equally entertaining and insightful’ YANIS VAROUFAKIS _______________________________________________________ MONEY. The object of our desires. The engine of our genius. Humanity’s greatest invention. Money is everything. It brings freedom and it takes it away. It inspires and corrupts us. But what is money? Is it the main thing holding us back from utopia or is it the one constant that’s driven us to success? In his illuminating, entertaining and often surprising book, economist David McWilliams charts the relationship between humans and money – from clay tablets in Mesopotamia to coins in Ancient Greece, from mathematics in the medieval Arab world to the French Revolution, and from the emergence of the US dollar right up to today’s cryptocurrency. Along the way, we meet a host of characters who have innovated with money, disrupting society and transforming the way we live. Like humanity, money is ever changing, adapting to its time and circumstances. The question is, over the last 5000 years, have we changed money or has money changed us? Money tells an astonishing new story of our species. Taking the reader on an epic journey through the history of money, McWilliams reveals its fundamental role in our society. _______________________________________________________ ‘An eye-opening history of what makes the world go round’ EVENING STANDARD 'An impressive journey that fizzes with facts'. ECONOMIST ‘David McWilliams is the best explainer of economics I know’ SIMON KUPER 'Compelling, funny and original' KATJA HOYER ‘If, as David McWilliams complains, economists take the fun out of money, then he is the exception that proves the rule: a man who could not write a boring sentence if he tried’ TOM HOLLAND

To: bull_dozer who wrote (208663)	10/28/2024 2:08:04 PM
From: TobagoJack	Respond to of 219972

Stalled Moving

To: bull_dozer who wrote (208663)	10/28/2024 2:13:57 PM
From: TobagoJack	Respond to of 219972

Stalled Moving

To: bull_dozer who wrote (208663)	10/28/2024 3:30:17 PM
From: TobagoJack	Read Replies (1) \| Respond to of 219972

Palladium price jumps after US suggests sanctions on Russian exports mining.com While Norilsk Nickel accounts for around 40% of global output, the company now sells most of its output to China, according to a person familiar with situation. It still sells some to the US, as no import ban for the metal is currently in place, the person said. Still, sanctions risks “have reignited buying activity,” said Daniel Ghali, senior commodity strategist at TD Securities. Commodity trading advisor trend followers are adding to their palladium bullish positions, he said. “Fear is the trade.” Shares of the four biggest palladium producers in South Africa — the world’s second-largest source of the metal — all jumped by more than 10%. One of them, Sibanye Stillwater Ltd., recently announced cuts to palladium output at its US mines due to weak prices. Palladium has fallen about 37% since the start of last year and almost two-thirds from a March 2022 peak, which miners attribute to a subdued global economy and destocking by manufacturers. The possibility of removing Russian palladium from the market may tighten the market as “South Africa and the other major producers won’t be able to fill the gap,” said Dan Smith, head of research at Amalgamated Metal Trading. Gold pared gains after latest data pointed to economic resilience in the US, reinforcing bets that the Federal Reserve may take a measured approach to monetary easing. Rising yields and higher borrowing costs tend to weigh on gold, as the metal doesn’t pay interest. Palladium rose 5.1% at $1,119.88 an ounce as of 10:38 a.m. in New York. Gold gained 0.3% at $2,723.98 after earlier rising by as much as 1%. The Bloomberg Dollar Spot Index was down 0.1%. Silver slid while platinum advanced. (By William Clowes and Yvonne Yue Li)