Send us a textIn the United States, the government is not the only entity legally allowed to issue money. Private citizens and businesses are allowed to do so, too, and throughout U.S. history, they have done this. This type of money is referred to as private money, and it had mostly disappeared from circulation until Bitcoin was created in 2009. Today more than eight thousand cryptocurrencies exist, and more are appearing every day.Why were private currencies so popular, and why are they com...

Send us a textDuring the pandemic, house prices have increased even faster than they did in the period leading up to the 2007 financial crisis, stoking concern that another dangerous housing bubble is developing. In this week's podcast we compare the current real estate market to the bubble years before the global financial crisis of 2007-2008Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate...

Send us a textOn Monday we saw the fraud conviction of Theranos founder Elizabeth Holmes. This conviction we are told in the press has split Silicon Valley. Supporters worry that the spirit of entrepreneurship has been put in ‘jeopardy’ while others say she overstepped boundaries.Tim Draper, a venture capitalist and family friend of Holmes who provided early funding to Theranos, told the New York Times that the outcome made him “concerned that the spirit of entrepreneurship in America is in j...

Send us a textLet’s look back at the big financial events of 2021 and the lessons we learned. 2021 was an exciting year in markets, we had meme stocks, SPACs, hedge fund blow ups and the mainstreaming of crypto. The stock market went from strength to strength this year. The year started out with the short squeezes in GameStop and then AMC.As global economies bounced back from the pandemic, supply chains buckled due to shortages either of goods or people to deliver them. The squeeze on t...

Send us a textHaving defied internal and external economic logic by repeatedly cutting interest rates, Erdogan opted this week for a new set of measures to stabilize its currency. What should we make of Turkey’s latest currency move?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our web...

Send us a textThe Turkish lira has been in meltdown as President Erdogan rejected warnings on the dangers of his recent interest rate cuts. He vowed that there was “no going back”.The currency, which has lost about 40 per cent of its value against the dollar since the central bank started lowering borrowing costs in September, fell to a new record low of TL18.36 against the dollar on MondayTrading on Turkey’s main stock exchange was halted for the second consecutive session following a ...

Send us a textChinese creditors have sued Evergrande for more than $13 billion dollars in as domestic companies owed money by the property development firm race against offshore bondholders to get paid.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow P...

Send us a textLink for next suggested piece: Chinese State Owned Developers Rescue Local Governments! - YouTubeInvestors are waiting for news about tens of millions of dollars of overdue interest payments owed by Chinese Property Developers Evergrande and Kaisa. The firms both appear to be overdue on payments to bond holders. Evergrande's shares closed at a new record low on Wednesday after falling by 5.5% in Hong Kong trade.If, Evergrande did fail to make these payments on time, the stage co...

Send us a textJust five months after going public on the New York Stock Exchange, Chinese ride-hailing giant Didi Global said it plans to delist from the New York Stock Exchange and pursue a Hong Kong listing as it bends to Chinese regulators angered by its US IPO.“Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong,” Didi said on its Twitter-like Weibo account on Friday.Didi did not explain it...

Send us a textSubscribe to The Daily Upside! (Free Business & Finance Newsletter) https://bit.ly/3lwt7LTShort squeezes have been all over the news this year as retail investors banded together to spoil the fun for hedge funds in some well-known stocks. Short squeezes are not new though, they’ve been around as long as short selling has. In today’s video we look at the most disastrous short selling fails to see what lessons we can learn. These are some of the craziest finance stories you wi...