- Blockchain goes extra-terrestrial
- The Woz and the crypto wonga
- The crypto Buffett lunch has been postponed. Lucky Warren Buffett.
- A $100m ICO being sued by the SEC wants more of your money
- A crypto Buffett lunch is on the cards. Poor Warren Buffett.
- LGC-Coin fights back against the Financial Times
- Introducing the “exit coin” for the luxury sector
- A failed ICO is trying to flog itself on eBay
- Parliament gets it, crypto-currency bunkum edition
- The ICO whose team members are literally cartoon characters
- The London School of Cryptonomics
- Intel's disruption, and the problem with every token pitch
- Buy SEC tokens! Now!
- Crypto “hedge fund” update
- The CryptoMillionsLotto
- We ran away with your bitcoins!! LOL, JK
- About that Petro
- Michelle Mone brings a touch of the avant-garde to finance
- Conservative peer stakes her name on a crypto offering, just as the market crashes
In reality, exposes commodity-backed crypto coins are just commodity ETFs in disguise.
The price of oil might have perked up over the past year, but there’s not much evidence that it’s feeding through to some of the second and third tier E&P issues that litter the AIM market in London. One of the more depressing things to do is to click on the last annual report from a company like Bowleven and read through the asset review.
You know who doesn’t like a falling oil price? Sovereign wealth funds for countries dependent on high oil prices and in love with their (endangered) petrodollars. And a risk based on that dislike is a presumption of forced selling and equity market weakness becoming self-fulfilling as/ if oil prices slide. Stable oil prices means SWFs don’t have to suddenly liquidate but the opposite would also seem to be true… The last time JPM’s Flows & Liquidity team looked at this risk they based it on a fall in Brent to an average price of $45 per barrel. They now assume an average oil price of $40 for 2016 and also note that the “YTD average has already fallen to $42.”
To what degree is the collapse in oil prices responsible for the contraction in cross-border financial activity and over-the-counter derivatives? According to the BIS’ latest quarterly review, the slowdown — which began in earnest in early 2015, coinciding with the oil drop — broadened in the last quarter of 2015 to a $651bn contraction. Of that, the biggest drop in cross-border claims was on euro area countries, at $276bn, whilst the overall advanced economy contraction was $361bn.