Exactly seven weeks since the first interview Krugman did with me was published, I have another interview to bring readers -- it's focused on the bread and butter elements that make up a modern financial crisis.
This talk, entitled “Monetary Sovereigns, Monetary Subjects and Monetary Vassals: A Spectrum Approach to Monetary Sovereignty and Our Dollar World”, lays out the basic building blocks of how I think about the international monetary order.
For those just tuning in: I wrote a piece a day for the first three days of this week on what we should probably now term the “Trump Tariff Financial Crisis”. The only missing piece was the international financial architecture part, which is the subject of today’s piece.
Understanding what’s going on during the Trump Tariff stock market panic each day is extremely difficult. All of the most intricate and obscure questions about the Financial System’s “plumbing” become relevant all at once.
I have a confession to make. Two months ago I tried to crash the stock market. Let me explain.
It has been a little more than three weeks since my last piece, simultaneously published by Notes On The Crises and Rolling Stone, assessing the extremely alarming implications of the Federal Government taking 80.5 million dollars right out of New York City’s bank account.
Federal Government’s mugging of New York City for FEMA funds suggests yes.
At the end of my Paul Krugman interview, I made a point to plug Modern Money Network president and Willamette University law professor Rohan Grey’s then-unfinished article on payments bottlenecks at the Federal Reserve and Treasury. The interview itself explains why:
Hello readers, this is not a full piece today. Well, I’m a writer so what I mean by “full piece” is it has a coherent and cohesive narrative that I unpack from introduction to conclusion. This “update” will still have plenty of content.
I don’t really know what to say. I’ll figure out what to say another time. Paul Krugman, who recently left the New York Times, interviewed me for his newsletter and the transcript of the conversation, as well as the video, are being posted in both of our newsletters.
Notes on the Crises pivoted on February 1st into around the clock coverage of the Trump-Musk Treasury Payments Crisis of 2025. Today is Day Twenty Seven Read Part 0, Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part
Notes on the Crises pivoted on February 1st into around the clock coverage of the Trump-Musk Treasury Payments Crisis of 2025. Today is Day Twenty Two Read Part 0, Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part