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bankingbureau.substack.com
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Nick Anthony
11.2K posts
Nick Anthony
@EconWithNick
Research Fellow at the @CatoInstitute's @CatoCMFA and Fellow at the @HRF. Covering CBDCs, financial privacy, and cryptocurrency. Opinions are my own.
Katılım Ağustos 2019
420 Takip Edilen4.2K Takipçiler
Well... this blew up more than I expected. Follow my Soundcloud for more nerding out on monetary and financial policy.
bankingbureau.substack.com
Nick Anthony@EconWithNick
It was illegal for banks to branch across state lines until 1994.
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Nick Anthony retweetledi
"...despite the most recent estimate that financial institutions spend $59 billion a year complying with the Bank Secrecy Act and filing more than 28.7 million reports on customers to the government, the reports initiated only around 275 criminal investigations (Figure 3)."
Nick Anthony@EconWithNick
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Nick Anthony retweetledi
Nick Anthony retweetledi
@EconWithNick Finally the quiet part is being said out loud. 'Strategic autonomy' was always code for 'we want our own sanction-evasion rail.' The mask is fully off now.
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Yes, but openly saying the digital euro is so European leaders can evade sanctions is new.
Stable Currencies@stable_currency
@EconWithNick Europe has always been vocal about the digital euro being about strategic autonomy?
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Well... this blew up more than I expected. Follow my Soundcloud for more nerding out on monetary and financial policy.
bankingbureau.substack.com
English
It was illegal for banks to branch across state lines until 1994.
Ramin Nasibov@RaminNasibov
What historical fact sounds fake but is true?
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Nick Anthony retweetledi
While #EU institutions happily sanction their own citizens and residents when using their right to freedom of expression, the #digital euro will be used as a backdoor for EU elites and high level politicians to avoid becoming subject to (US) sanctions themselves.
#ECB
Nick Anthony@EconWithNick
It's shockingly disappointing that no journalists have questioned ECB President Lagarde on her idea to use the digital euro for sanctions evasion. cato.org/blog/digital-e…
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It's shockingly disappointing that no journalists have questioned ECB President Lagarde on her idea to use the digital euro for sanctions evasion.
cato.org/blog/digital-e…
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I always knew 12 words could be important, but I wasn't expecting to go viral with them.
Nick Anthony@EconWithNick
It was illegal for banks to branch across state lines until 1994.
English
"Idealistic regulators do more harm than good when they try to rid the world of ill-defined or hard-to-measure subjective or abstract injuries." - @SolveigSinglet
cato.org/blog/what-we-c…
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@bitcoinfilmfest @OsloFF @leopoldolopez @callebtc @cjcmichel @Ziya_Sadr I want to. I've actually needed an excuse to be in Warsaw for ages, but I can't make it this year.
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@EconWithNick @OsloFF @leopoldolopez @callebtc @cjcmichel @Ziya_Sadr Will you join us for BFF26 too @EconWithNick?
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Counting down the days to the @OsloFF! This event is not one to miss. I'll be speaking alongside legends like @leopoldolopez, @calleBTC, @cjcmichel, @Ziya_Sadr, and many more!
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For decades, the U.S. has counted on banks to identify suspicious activity and fight financial crime.
That requires tens of thousands of employees and countless hours. Crypto companies don't have the same obligations. And it shows. 🧵
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hahah "legal for extra steps" is quality.
Yes, it was a mess. As far as I remember, they had the same branding but they effectively operated as different companies. They had distinct charters and distinct regulatory requirements---leading to innefficiencies that were solved by opening up the nation to branching.
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@RoseSilicon @EconWithNick So then, it was legal with extra steps? Did these holding companies have their own distinct board of directors? How’d they legally stay separate?
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@_themoman Yes, but that's still different from true branching. I might blog on this though because you're right that there's a lot of nuance to this history
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@EconWithNick Not entirely true. You could have interstate pacts for regional banks
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@causeiexist @EconWithNick IMHO, principal reason car dealerships still exist.
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@Yellow_Dog1959 Yes, there is a good bit of nuance here. I was not expecting so much interest. I might blog about the full history to give more background
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@EconWithNick Not completely true.
Bank of California was grandfathered in. It had locations in 3 states.
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The @ECB prides itself on transparency until you ask how much it is spending on the digital euro. cato.org/blog/ecb-denie…
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@BrendanPedersen “There’s always a CBDC angle.” - @BrendanPedersen ;-)
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News: House Republican leadership has posted the text of their bipartisan amendment to the Senate’s 21st Century ROAD to Housing Act
Here’s some of the reworked institutional investor prohibition language, CBDC prohibition and community bank reforms
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