Karthik Sankaran

This latest repost inspired by the FT’s great Bitcoin treasury story. bsky.app/profile/raja...

I just realized that the Tulip Bubble was perhaps the world's first instance of the Greater Phool theory.

Given the sheer size of its persistent c/a surpluses and positive NIIP, isn’t the key political economy question how many jobs in Switzerland depend on melting gold ingots and recasting them as gold biscuits?

Agree not aged. I’m aged. He’s not.

Post by @rajakorman 💬 0  🔁 0  ❤️ 2 · The Fed never talks about the Dollar and other nonsensical pieties · When I first got into FX in 1997, one of the first things I learned was “The Fed never talks about the Dollar;…

In honor of the announcement, here’s a blog from 10 years ago, arguing that actually it’s completely fine for the Fed to talk about the $ and not leave it only to the UST, so I guess we aged about one thing.

www.tumblr.com/rajakorman/1...

It’s all about breakevens, trade, and country responses.

BE, BoP & Lula.

One of my longtime shticks has been sticking up for him.

The reaction of the 30 year UST to the Waller story is yet another affirmation of the undying wisdom of James Carville.

I had to qualify that so Draghi July 2012 did not fall afoul of my categorization.

In a world troubled by increasing assertions of Plebiscitary (rather than autonomous technocratic) Presidentialism, I congratulate the Bank of England for reasserting the virtues of Cliffhanger Parliamentarism.

One issue with Navelism is the difficulty of balancing Aussenpolitik and Inniepolitik.

Geoeconomics with one hand tied In recent weeks, one of the key architects of the US’s sanctions strategy against Russia, Daleep Singh, Deputy National Security Advisor for International Economics, has made two public statements out...

And a precursor stack under the previous administration that makes broadly the same point (though of course the domestic political economy constraints on economic diplomacy are even tighter now). open.substack.com/pub/sankaran...

Linking tariff 'deals' to US security interests is harder than it looks Behind the headlines of billion-dollar commitments lie questions about enforcement, consistency, and international buy-in

Here’s a link to my latest on how it might be quite difficult to have consistent linkages across trade and national security policies, especially once you throw domestic politics into the mix. responsiblestatecraft.org/trump-tariff...

Symposium: Why was Japan the only nuclear holocaust in 80 yrs? On the anniversary of Hiroshima and Nagasaki we ask 17 experts whether 'deterrence' is the real legacy. Or not.

On the 80th anniversary of Hiroshima and Nagasaki, our symposium asks 17 experts, why hasn't there been another nuclear bomb dropped since? responsiblestatecraft.org/hiroshima-an...

Apollo Global to Buy Builder of Large-Scale US Data Centers Apollo Global Management Inc. agreed to acquire a majority stake in Stream Data Centers, making its first such acquisition as the alternative asset manager capitalizes on booming demand for digital in...

Investment is Data Dependent. www.bloomberg.com/news/article...

YouTube video by JFI - Jain Family Institute Monetizing Primacy: A panel with Karthik Sankaran, Brad Setser, and Mona Ali

Here's a link to a great conversation hosted by @phenomenalworld.bsky.social and QI, moderated by @stynesmichael.bsky.social, featuring @mona-ali.bsky.social and Brad Setser about the administration's dollar strategy, $ centrality, monetizing primacy etc.

www.youtube.com/watch?v=0Qc9...

Because that would mean the CFTC is condoning a ramp in the futures market?

Linking tariff 'deals' to US security interests is harder than it looks Behind the headlines of billion-dollar commitments lie questions about enforcement, consistency, and international buy-in

Here’s a link to my latest on how it might be quite difficult to have consistent linkages across trade and national security policies, especially once you throw domestic politics into the mix. responsiblestatecraft.org/trump-tariff...

YouTube video by JFI - Jain Family Institute Monetizing Primacy: A panel with Karthik Sankaran, Brad Setser, and Mona Ali

Here’s a link to a great conversation hosted by @phenomenalworld & @QuincyInst with @MonaAli_NY_US & @Brad_Setser, moderated by @StynesMichael about the $, imbalances, global public goods (or not) and other themes related to “Monetizing Primacy.” www.youtube.com/watch?v=0Qc9...

Thank you!

Did you know that by the 2nd half of the 16th century, when a customer ordered Patatas Bravas at a Spanish diner, the waitress would yell to the kitchen “New World Order?”

The East Asian experience has taught us that tomato tariffs are an entirely legitimate industrial policy measure to pursue ketchup growth.

Annual reminder.

A big part of AI is about chores (Hindi speakers will get this).

YouTube video by JFI - Jain Family Institute Monetizing Primacy: A panel with Karthik Sankaran, Brad Setser, and Mona Ali

Here’s a link to a great conversation hosted by @phenomenalworld & @QuincyInst with @MonaAli_NY_US & @Brad_Setser, moderated by @StynesMichael about the $, imbalances, global public goods (or not) and other themes related to “Monetizing Primacy.” www.youtube.com/watch?v=0Qc9...

The Bureau of Labor Statistics must be fought because its very ideology is based on unrepentant Revisionism!

Yup. most important function/power of $ in Int’l monetary system is NOT as dominant reserve asset (and btw, $ reserve accumulation typically coincides with RoW private sector NOT wanting $s) but to serve as dominant denomination of cross-border liabilities, thus making Fed LoLR.

Even if I do say so myself, this is a very snappy formulation.

2025 cannot be 1945 because 1990 happened, which was good.
This is the Tl;dr of a lot of my content.

This is what I'm talking about. www.whitehouse.gov/presidential...