Blog

Notes on how capital actually moves, and on what the numbers show once they are put side by side. Written irregularly, and only when there is something to say.

• September 22, 2026 Your bank's favourite client Two central banks moved in the space of six days.
• September 1, 2026 The cheque Monaco can't touch The US Open is under way with the biggest purse in the history of tennis: 108 million dollars, up twenty percent in a single year, up forty-four in two.
• August 25, 2026 One podium, two chairmen This Friday, in a mountain lodge in Wyoming, a little village will host the most expensive speech of the year.
• August 11, 2026 The plan nobody knows Bernard Arnault did something last month he had never done in his life. He posted on social media.
• July 14, 2026 39 out of 40 Paris, third week of June. A room with bad coffee and expensive lawyers. The Financial Action Task Force is holding one of its three yearly plenaries.
• July 7, 2026 The keystroke Picture the most boring building in Brussels. Not the Commission, not the Parliament, none of the places the cameras point. A clearing house.