Francis Coppola

Why did the Bank of England intervene in the gilt market this week? The answer that has been doing the rounds is that it was protecting the solvency of pension funds. But this doesn't make sense to me. The Bank doesn't have any mandate to prevent pension funds going bust. And anyway, the type of pension fund that got into trouble isn't at meaningful risk of insolvency. There was never any risk to people's pensions. I don't think the Bank was concerned about pension funds at all. I think it...

Crypto commentator Frances Coppola talks to Kathy Chu about why she thinks more crypto firms will collapse and how the crypto industry has become interconnected with traditional financial markets. Find her on Twitter at frances_coppola and read her blog at coppolacomment.com. Produced by truthdao.xyz.

Economist Frances Coppola struggles to find a positive in the mini-budget: 'The first thing we've seen is a pretty massive sell-off in the pound because the international market doesn't like our currency any more, they think it is going to inflate.' This video clip is from an LBC show presented by James O'Brien on 23/09/22

Economist Frances Coppola struggles to find a positive in the mini-budget: 'The first thing we've seen is a pretty massive sell-off in the pound because the international market doesn't like our currency any more, they think it is going to inflate.' This video clip is from an LBC show presented by James O'Brien on 23/09/22. #JamesOBrien #MiniBudget #LBC LBC is the home of live debate around news and current affairs. We let you join the conversation and hold politicians to account....

Economist Frances Coppola struggles to find a positive in the mini-budget. 'The first thing we've seen is a pretty massive sell off in the pound because the international market doesn't like our currency anymore, they think it is going to inflate.' casawary bird @casawarybird tweeted 'Fantastic prog this morning.Thank you. Can you come up with a new slogan instead of The Poor (which isn't useful & is an untrue representation of inequality) Need to change the onus. eg 'The Rich & the...

Frances Coppola is a former banker, an economist, and blogger who wrote a book called 'The Case for People's QE', which you can buy here: https://www.wiley.com/en-gb/The+Case+For+People's+Quantitative+Easing-p-9781509531301 We chatted about the book and about monetary policy in-depth.

Yesterday, the failed crypto lender Celsius filed a monthy cash flow forecast and a statement of its assets and liabilities held in the form of cryptocurrency and stablecoins. They showed that the lender is deeply underwater and will run out of money within two months.  Today, Celsius presented an update regarding its chapter 11 bankruptcy plans. Reading this, you'd think it was a different company. Liquidation isn't on the agenda. No, they are talking about "reorganization" and and seeking...

Coinbase recently filed its interim financial report. It makes pretty grim reading. A quarterly net loss of over $1bn, net cash drain of £4.6bn in 6 months, fair value losses of over 600k... To be sure, Coinbase is not on its knees yet. It still has $12bn of its own and customers' cash (both are on its balance sheet), and a whopping asset base. In fact its assets have increased - a lot. As have its liabilities. Coinbase's balance sheet is five times bigger than it was in December...

Ursula Le Guin's short story "The Ones Who Walk Away From Omelas" contains a terrible moral conundrum. Many people have agonised over it: to my knowledge, no-one has solved it. Attempts that I have seen all in some way change the framing of the story, whether by justifying blood sacrifice, insisting that there must be a better way, or creating a better alternative. But if you change the framing, you have not solved the problem. You have avoided it.As I read through Le Guin's story to the...

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