Quotes of the month
“Digital currencies may reduce the cost of friction in the current financial system – the logistics and security apparatus which surround conventional forms of money transmission”
“If you compare us to the big banks, their distribution is too complex; they have too many branches... They have tech that needs replacing, and they can’t afford to do so, not because they haven’t got the money but because changing those systems is very risky”
“There is no disconnect between the real economy and markets. The activity you have seen is driven by planning for difficult scenarios. Companies are raising capital to buttress them for the uncertainty and the slow growth to come”
“Is this a re-run of 2008? Given the moral hazard and underlying motivations, absolutely.