A history of extreme money

Spending an hour with Satyajit Das is an excellent cure for the head-in-the-sand optimism that typically emanates from the financial industry.knock off oakley sunglasses mframe deep brown frame brown lens fake 

A former trader and author of several books on derivatives and finance, he is scathing of his former peers and most of the people running the global economy, whose suggested remedies he typically describes as “idiotic”,knock off Cheap montblanc meisterstuck fountain pens platinum fake “incompetent” or “stupid”. 

We met up earlier this month in a cafe in Tai Koo Shing, in Hong Kong’s eastern district, to talk about his latest book, Extreme Money, which went on sale in Hong Kong this week and charts what he calls the “financialisation” of the past 40 years — a series of steps from the collapse of the Bretton Woods system in 1971, through to the financial deregulation of the 1980s and 1990s,knock off radar sunglasses oakley black frame gray lens003 fake and the imposition of a global financial order through multilateral agencies such as the IMF and World Bank. 

During this period, the world economy has changed in profound ways, typified by the extraordinary rise of the financial industry. 

“When I went into banking in 1977, being a stockbroker was one step up from being a disreputable real estate agent and a banker was somebody who was like you’re favourite uncle,knock off Cheap montblanc meisterstuck ballpoint pens sterling silver fake with eyeshades, cardigans and slippers,” said Das over a cup of coffee (which he eventually knocked over in a moment of animated enthusiasm). 

Back then, the international financial industry was tiny — literally a few thousand individuals based mostly in London and New York. Today,knock off discount montblanc meisterstuck rollerball pens classique diamond platinum fake the average international financial institution employs that many people in Beijing and the industry generates a huge amount of global economic growth in ways that very few people truly understand.