by Patrick L Young

Putting the substantial legacy of Nicolaus Copernicus in perspective, it is worth noting he was already a student at the University of Krakow by the time Columbus discovered America. Yet when Bitcoin came along, I found myself in the economic faculty of UMK (Nicolaus Copernicus University), in his birthplace Torun nearly a decade ago, discussing Bitcoin and what it meant for the world… (of which more in a moment).

The legacy of Copernicus came at a time when the world population was barely half a billion but a lot of people from the 16th century have made a significant impact on our lives half a millennium later. Over 20 years after Copernicus’ death — several decades before the Dutch first populated New Amsterdam (later New York) — Malta’s GrandMaster, the Knight Jean Parisot de Valette, fresh from seeing off the Ottoman siege, undertook the creation of a new capital for the Maltese archipelago which would bear his name: Valletta. …

“Let us never forget this fundamental truth: the State has no source of money other than money which people earn themselves. If the State wishes to spend more it can do so only by borrowing your savings or by taxing you more. It is no good thinking that someone else will pay — that ‘someone else’ is you. There is no such thing as public money; there is only taxpayers’ money.”

Adversity breeds Opportunity.

The vast majority of the world can go about their daily business having never heard of businesses like mine. A niche publisher, we produce the daily bourse business digest: “Exchange Invest” a newsletter which is deemed a “must read” by the most influential CEOs and market managers of exchange businesses the world over in stocks, bonds, commodities, and all forms of derivative products. …

“The Only thing we have to fear is fear itself.”

Franklin D Roosevelt

Toby reading my first book “Capital Market Revolution!” in preparation for his appearances on IPO-Vid.
Toby reading my first book “Capital Market Revolution!” in preparation for his appearances on IPO-Vid.
Co presenter Toby reading my first book “Capital Market Revolution!”

FEAR2020: However you see this COVID-19 spin-off, it is very real across the world. In investment markets volatility has exploded as greed exits stage left and angst of all kinds up to and including near rampant terror is centre stage for many.

Now take a deep breath and repeat those wondrous words spoken by President Franklin D Roosevelt at his inauguration on March 4th, 1933:

“The Only thing we have to fear is fear itself.”

Having been investing since childhood and with a multi-decade pedigree trading, investing, always analysing, and even running an exchange along the way, I have learnt a bit about markets. Maybe reading hundreds of books helped as well as the day to day experience of it all. Having written quite a few books too — including the world’s first ever bestseller on the topic of ‘fintech’ — perhaps it’s not surprising my multifarious digital communications are running over with questions, queries and above all one simple message: I’m scared. …

AKA Am I an entrepreneur with foresight or just plain stubborn?

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Years ago, I started a newsletter. True, I had been publishing online since WWW got underway with some gusto (that must have been 1994) but this was an all singing all dancing email newsletter. The related website was in essence an afterthought (still is — and more fool those who think they have an advantage using RSS I suppose).

Anyway, the subject matter of said newsletter — I hope you can stifle your unbridled excitement, ladies and gentlemen, was a microtopic in comparison to the big wide world, the industry that goes into creating and operating financial market infrastructure — exchanges, clearing houses and the like. True, having been around fintech and ahead of the curve a decade and more before they got around to christening it thus, I could see how it was a key area growing in relative importance as the digital world loves centralised markets. …


Patrick L Young

Entrepreneur, Investor, Author. #Exchanges #Fintech #Startups #Motorsport Emerging Markets. CoFounder @Exchange_Invest @HanzaTrade @MissionToRun @YMarkets

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