The Survival Constraint

1:1 The Money Market

Smoothing Over Payments Deficits

May 20 • 

Alex Howlett

2

1

April 2025

1:1 Money Is Global

The Myth of Monetary Sovereignty

Apr 18 • 

Alex Howlett

2

The System Is Fragile

Promises Breed Instability

Apr 8 • 

Alex Howlett

1

March 2025

Money as Credit

The Purest Money Is Paper

Mar 23 • 

Alex Howlett

2

1

Banking Implies Hierarchy

A Natural Money Structure

Mar 18 • 

Alex Howlett

3

Public-Private Monetary Hybridity

Money as a Creature of the Market

Mar 9 • 

Alex Howlett

3

The Alchemy of Banking

Transmuting Promises into Money

Mar 1 • 

Alex Howlett

5

4

February 2025

Transactions

It Takes Two

Feb 24 • 

Alex Howlett

1

Four Ways to Pay

Representing Payment Types

Feb 23 • 

Alex Howlett

4

2

Market-Makers Make Markets

Rethinking Supply and Demand

Feb 17 • 

Alex Howlett

1

10

Gap Liquidity

Money, Funding, and Markets

Feb 13 • 

Alex Howlett

3

Balancing Act

Lining Up Cash Flows in Time

Feb 10 • 

Alex Howlett

1