On this day in 1869, the Black Friday gold panic was caused by a conspiracy between two investors, Jay Gould and his partner James Fisk, and Abel Corbin, a small-time speculator who had married Virginia (Jennie) Grant, the younger sister of President Grant. They formed the Gold Ring to corner the gold market and force up the price of that metal on the New York Gold Exchange. The scandal took place during the Presidency of Ulysses S. Grant, whose policy was to sell Treasury gold at weekly intervals to pay off the national debt, stabilize the dollar, and boost the economy. The country had gone through tremendous upheaval during the Civil War and was not yet fully restored.
The world stood still as Britain mourned a beloved Queen.
From Exchange Invest 2458: 19th, September 2022: Monday
At one stage the queues appear to have taken on a life of their own. In a tribute to British values, the centre of London has been ‘queue central’ for the weekend, with a queue to see the Queen lying in state accompanied by a queue to get into the queue and a queue waiting to join the queue waiting for the queue. At Buckingham Palace queues stretched across St James’ Park to see the flowers left as a tribute to the Queen.
At 0630 London time this morning as the final visitors saw the Queen lying in state on the Catafalque in Westminster Hall, there were some 16,000 people watching the BBC LiveStream on Youtube.
In total, the lying in state queue alone involved around 550 years of collective waiting amongst 400,000 people walking 4 million miles between them (>153000 marathons). Mourners waited up to 26 hours, noting with typical British candour “it’s the least I can do” to show their appreciation of the most famous woman of the past century.
After the largest diplomatic reception in British history last evening as pretty much every political leader on earth was present, today the United Kingdom will enjoy an emotional Bank Holiday as the beloved, brilliant Queen Elizabeth II is laid to rest after a ceremony at Westminster Abbey.
It’s worth considering that Her Majesty will be the first monarch whose funeral service will take place at Westminster Abbey since George II in 1760… a handy reminder of the longevity of monarchy, predating even in this funerary custom most of the nation states whose representatives will pay tribute today.
NEXT WEEK TUESDAY: Season 13: Episode 06
IPO-VID Livestream 078
Guest: Kevin Brady
Tuesday, September 27th: 1800 UK, 1900 CET, 1300 EST
"Kevin Brady: A2X A Market For All"
Kevin is a co-founder and the CEO of A2X Markets a licenced, regulated Stock Exchange created along with Sean Melnick and Ashley Mendelowitz in 2014 to bring healthy competition to the South African equity market and break the 130 year-long JSE monopoly.
A2X started trading in October 2017 and now has 69 instruments listed with a combined market cap of over R5 trillion (US $300bln).
Raised in South Africa, Australia & the UK, Kevin has over 25 years of financial market experience including 12 years at Investec, of which 9 were as head of Investec Institutional Securities and Prime Broking division.
NOW ONLINE! Season 13: Episode 05
IPO-VID Livestream 077
Guest: Caterina Caramaschi
Tuesday, September 20th: 1800 UK, 1900 CET, 1300 EST
"Caterina Caramaschi: Coming of Age With ICE"
Caterina Caramaschi is celebrating her 21st anniversary working in equity derivatives with ICE (formerly LIFFE)
Named Global Head of Equity Derivatives at ICE in December 2020, Caterina is responsible for ICE’s global equity derivatives complex covering MSCI Index Futures, FTSE Index F&O, NYSE FANG+ Index Futures as well as Single Stock Futures & Options.
IPO-VID LIVESTREAM PODCAST
In IPO-VID Episode 066: Patrick L Young was joined by Trading Technologies CEO, Keith Todd.
Listen and learn how technology innovates today's financial economy.
Available in different podcast sources:
EI WEEKLY PODCAST
EU SOTU woof!
There is a certain relief to discover the cross ineptitude of VDL and her merry band at the EC but it's scary. It's not so much TTF as W_T_F!
NYSHEX raises $25 million Series B round
Dublin seeks tax breaks for IPOs
NASDAQ makes a crypto leap
20 years on from the first fintech bestseller “Capital Market Revolution!"... "Victory Or Death" is a must read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
Outside In | Can King Charles Continue To Offer Britain 'Value For Money’?
South China Morning Post
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
The UK Is The Beating Heart Of The Free World
Trussonomics Will Certainly Challenge The Dull Orthodoxy Of Declinism
PLY: It’s rebirth time for Britain. Against a challenging background there is an outbreak of government (and it believes in liberty, free markets and other giddy concepts unseen for at least a generation in UK politics). The new era of King Charles has catapulted the UK to the top of the soft power standings after that simply incredible Royal funeral.
It’s time for Britain to move forward…
Argentina's Drought Is So Bad Farmers Are Abandoning Land
His Failure As A Teacher Led To Success As A Prop Betting Entrepreneur
Bankrupt, Jailed, £100m: Confessions Of AirX CEO, John Matthews – The Least Popular Man In Private Jet Chartering
President Xi’s University Among World’s Top Producers Of Super-Rich Alumni
South China Morning Post
Catch up on Monday for Exchange Invest 2464…
The future continues in the water cooler for the bourse business Monday...
Exchange Invest Daily is the benchmark newsletter about exchanges and market structure, read by the leading figures in the 'parish' across the world.
Patrick L Young wrote the original fintech book, "Capital Market Revolution!" (FT PH 1999) and has, alongside many entrepreneurial endeavours, been an exchange CEO.