The Money Explained Daily
A Year-Long Journey Into How Money Really Works
Daily essays on banking, payments, crypto, FX, markets, monetary systems, and the hidden infrastructure of the global economy.
13 essays published · Latest 10/Oct/2026
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13 EssaysEvery essay
October 2026
11 Essays- Payment Finality: The Moment Money Stops Being a PromiseA clear, practical explanation of payment finality, settlement risk, real-time gross settlement, instant payments, and why “sent,” “received,” and “final” are not the same thing.
- FX Swaps: The Dollar Loans That Do Not Look Like LoansA smart, readable explanation of how FX swaps work, why they matter to dollar liquidity, and why the BIS calls them a major blind spot in global finance.
- The Line That Makes Poverty DisappearChina says it eliminated extreme poverty. This article explains what that means, how poverty is defined in the U.S. and why poverty lines shape policy.
- Correspondent Banking De-Risking: How Nations Lose Access to the Global Financial SystemA country does not need to be sanctioned to become financially isolated. This article explains how correspondent banking works, why global banks withdraw from smaller markets and how de-risking affects remittances, trade and payment companies.
- Herstatt Risk: Why a Currency Trade Can Fail After One Side Has Already PaidA foreign-exchange trade appears to be a simultaneous exchange, but the two payments may travel through different countries, banks and time zones. This article explains Herstatt risk, payment-versus-payment and why faster settlement is not necessarily safer settlement.
- The Debt That Made Freedom Pay InterestHow France forced Haiti to compensate former slaveholders, and how recognition, foreign borrowing, and refinancing created a century of financial dependence.
- The IMF’s Money That Is Not Quite MoneyLearn how IMF Special Drawing Rights work and what the Indian rupee in the SDR basket would mean for reserves, trade, FX markets, and monetary power.
- The Narrow Sea Lane That Keeps Asia RunningStrait of Malacca trade carries energy, goods, and supply chains between the Indian, Pacific Oceans. See what disruption means for shipping, FX, and the dollar.
- The Dollars America Did Not PrintEurodollar market explained: How banks outside the U.S. create, lend, and move dollar claims, affecting trade, crises, payments, stablecoins, and U.S. power.
- The Bank Behind the World’s Central BanksDiscover how the Bank for International Settlements became the bank for central banks, why it attracts secrecy theories, and how its decisions shape banking, payments, crypto, and financial regulation.
- Why Billionaires Buy ForestsExplore why billionaires buy forests, how timberland generates returns, and its role in diversification and long-term wealth preservation.
September 2026
2 Essays- XAF vs XOF: Two CFA Francs, One Monetary ShadowXAF vs XOF: are two CFA franc currencies used across Central and West Africa. Learn how they work, why they exist.
- Import Cover: How Long a Country Can Keep BreathingImport cover shows how many months of imports reserves can fund. Learn why it matters for FX, banking, payments, and economic stability.
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SubscribePage Last Updated: 10/Oct/2026 (1000077)