The Vanishing Collateral Problem

What if the collateral backing trillions in financial claims doesn’t actually exist in deliverable form? When paper claims collide with physical reality, the system doesn’t fail gracefully. And someone always ends up holding the bag…
ON SIGNAL: What Remains When the Noise Is Gone

“There are centuries in which nothing happens and years in which centuries pass.” Have you ever been blindsided? Ever been struck by a sudden flash of clarity? Why do certain moments concentrate such significance? The common thread is…