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Coppola Comment
coppolacomment.com · Personal blog · on HN since 2015
Frances Coppola, an economist and writer, explains banking, money creation, and crypto failures in plain terms.
What HN saysCommenters call her FTX-Alameda explainer excellent, praise her Voyager analysis, and point to her blog for correcting textbook errors on credit creation.
22HN people shared it
9linked it in comments
18stories submitted
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Most-shared posts
- 1Probability for geeks3 people · 8 points · first shared 2018 · 1 comments on HN
- 2Explaining the FTX-Alameda nexus – how did it work?3 people · 3 points · first shared 2022 · discussion on HN
- 3The Sinking of Voyager2 people · 93 points · first shared 2022 · 29 comments on HN
- 4The entire crypto ecosystem is a ponzi1 people · 144 points · first shared 2022 · 101 comments on HN
- 5Lessons from the Long Depression1 people · 106 points · first shared 2019 · 56 comments on HN
- 6JP Morgan's Coffee Machine1 people · 38 points · first shared 2021 · 18 comments on HN
- 7The Bitcoin Standard – a critical review1 people · 26 points · first shared 2018 · 6 comments on HN
- 8The Basic Income Guarantee: what stands in its way?1 people · 6 points · first shared 2015 · discussion on HN
- 9The Fat Controller of the Lightning Network1 people · 4 points · first shared 2018 · discussion on HN
- 10Crypto-tulips1 people · 2 points · first shared 2017 · discussion on HN
- 11Money Creation in a Post-Crisis World (2017)1 people · 2 points · first shared 2018 · discussion on HN
- 12The Abominable Laffer Curve1 people · 2 points · first shared 2019 · discussion on HN
- 13Calculus for Economists (2021)1 people · 2 points · first shared 2023 · discussion on HN
- 14The Carillion whitewash: insolvent, not illiquid1 people · 1 points · first shared 2018 · discussion on HN
- 15The shabby economy1 people · 1 points · first shared 2015 · discussion on HN
What HN people wrote when they linked it
gvb · 2022-11-11
"The FTX-Alameda nexus"
https://www.coppolacomment.com/2022/11/the-ftx-alameda-nexus.html
Excellent explanation.
Appears to be confirmed by the WSG
"FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall"
https://archive.ph/nZNmw
Original: https://www.wsj.com/amp/articles/ftx-tapped-into-customer-accounts-to-…
AdamJacobMuller · 2022-07-06
https://www.coppolacomment.com/2022/07/the-sinking-of-voyager.html posted on hn in the past few days is an excellent read about voyager and in particular explains the whole FDIC insured claim, how it was technically true but also quiet useless.
soVeryTired · 2017-08-05
I'm don't know of a good textbook that explains it well. But for an example of a textbook that gets it wrong, see Mankiw's introductory macro book. Mankiw alludes to the important brake on credit creation (capital constraints), but dismisses them as 'arcane', then goes on to describe a fractional reserve system that doesn't really exist anymore.
I've pieced together what I can from reading blogs (Frances Coppola [0] is very informative in this regard). The Bank of England wrote a document explaining their view of the process of money creation [1], which is widely accepted as correct.
Edit: actually, this might do:
http://neweconomicperspectives.org/money-banking
[0] http://www.coppolacomment.com/
[1] http://www.bankofengland.co.uk/publications/Documents/quarterlybulleti…
TechBro8615 · 2023-06-30
Specifically, the commonly cited "accelerating inflation" refers to the third derivative of price with respect to time. Interestingly, more physicists seem to understand this than economists: https://www.coppolacomment.com/2021/05/calculus-for-economists.html
zajio1am · 2022-11-13
Here is a detailed description: https://www.coppolacomment.com/2022/11/the-ftx-alameda-nexus.html
ajb · 2020-04-09
Related, Frances Coppola is an advocate of Helicopter money and UBI, but doesn't think it's the right medicine for these current circumstances: http://www.coppolacomment.com/2020/03/when-is-right-time-for-ubi-and.h…
pjc50 · 2020-02-08
Maplin apparently had operating profits but accounting losses in the few years before it failed: http://www.coppolacomment.com/2018/03/the-sad-story-of-maplin-electron…
As you can see, 15% interest rates will do that. But this is one of those weird PE setups where the left hand is lending to the right hand.
lucretian · 2019-04-18
1) she
2) your criticism seems overly harsh. perhaps you should familiarize yourself with the author's other writings:
http://www.coppolacomment.com/2019/04/keynes-and-death-of-capitalism.h…