This is the paper I submitted to the Central Banking and Green Finance workshop organized by the Council on Economic Policies (CEP) and De Nederlandsche Bank. I wrote it to stimulate a discussion about how central banks can contribute to the fight against climate change. The text does not necessarily reflect my personal opinion. Continue reading “Green infrastructure bonds with macro strings attached: How the ECB could fulfill its mandate by fighting climate change”
Bankiers zonder geld
Banken bieden allerlei elektronische betaalmiddelen aan. Sommige bankiers rekenen erop dat ze overal met hun smartphone kunnen betalen. Maar zonder cash komen ze wel eens in de problemen.
Geert Gielens, de hoofdeconoom van Belfius, in De Tijd: “Ik stoor me eraan als ik ergens niet elektronisch kan betalen, want ik heb nog amper cash op zak.” Continue reading “Bankiers zonder geld”
“Bankers are people, too”: why that title?
Several readers have asked me why I called my book Bankers are people, too: How finance works
It sure wasn’t the working title, which was Money, Banks, and Power. The working title reflected the role of politics and regulation in real-life banking. A realistic description of the financial sector cannot neglect the world outside banks. Continue reading ““Bankers are people, too”: why that title?”
Preparing physics students for 21st-century careers
Are universities teaching physics students the things they need to succeed in the real world? The vast majority of physicists don’t work as physics professors. Jobs outside of physics departments often require skills that are less important for an academic career.
In Physics Today (open access during November 2017), professors Laurie McNeil and Paula Heron discuss how universities can teach relevant business skills, without neglecting the physics curriculum. Based on statistical data and interviews, they show that there is much room for improvement. Continue reading “Preparing physics students for 21st-century careers”
Definitely not a bubble
Calling bubbles in real time is hard, but come on:
This company added the word ‘Blockchain’ to its name and saw its shares surge 394%
and
How Floyd Mayweather helped two young guys from Miami get rich
“The boxer’s endorsement of Centra, along with a similar endorsement from the popular rapper DJ Khaled, lent a patina of credibility to a project that has ended up with more than a few problems, including a chief executive who does not appear to have been a real person and a shaky, fast-shifting business plan.”
#FinanceQuiz
If you’re on Twitter, please join my #FinanceQuiz. I’ll post one question a day (not during weekends). The answer will be posted the following day. The quiz covers anything money related: history, banking, famous bankers, technology…
First question: Where was this banknote used? Please answer before looking at the replies. Retweet for greater visibility #FinanceQuiz pic.twitter.com/ael7HCOLjX
— Jan Musschoot (@JanMusschoot) November 1, 2017
Further reading on Blockchain and all that
There is a lot of hype surrounding blockchain1, ICOs, crypto assets, etc. You can find thousands of articles on distributed ledger technology and its potential applications.
As usual, the quality of these pieces varies greatly. Few are worth your time. Below are some links to explanations that I found useful. Continue reading “Further reading on Blockchain and all that”
Only the paranoid banks survive
“Sooner or later, something fundamental in your business world will change.” – Andrew Grove, Only the Paranoid Survive
Everyone hates banks. This has created an opportunity for business gurus, futurists and charlatans to proclaim the imminent death of banks. Stories on how technology will make traditional banks obsolete are eagerly picked up by the media. Continue reading “Only the paranoid banks survive”
Shameless self-promotion
As announced, I’ve picked up the pace of blogging. Since I’m really proud of Bankers are people, too, I’m going to add a reference to my book under every post, whether the post is directly related to the book or not.
If you don’t have the time to read, you can also hire me for lectures. Short courses include the basics of banking2, risk management3, knowledge management4 and central banking/monetary policy5. The courses are based on years of experience.
Furthermore, I give presentations to bankers, investors or students on the psychology of investing, financial technology (past, present and future), macroeconomics, and science versus economics.
Contact me for more information!
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My beef with bitcoin bulls
Everybody has heard of bitcoin by now. The price of the cryptocurrency is hitting all-time highs. John McAfee has bet that one bitcoin will be worth $500,000 in the year 2020. Bank chief Jamie Dimon called bitcoin a fraud. His statements were (predictably) followed by articles saying that bankers should be afraid of cryptocurrencies.
It seems there are two bitcoin camps: the true believers and the naysayers. Izabella Kaminska from FT Alphaville in particular has been explaining for years why cryptocurrencies are not the utopia some imagine them to be. In this post, I summarize my own reasons why I don’t think bitcoin is a credible threat to the banking industry.6 Continue reading “My beef with bitcoin bulls”