Stefan Eich

@stefeich.bsky.social

Political theorist of 💵 ⌛️ ⚖️ 🌱 at Georgetown; Author of THE CURRENCY OF POLITICS (PUP 2022) / DIE WÄHRUNG DER POLITIK (Hamburger Edition, Herbst 2023) https://stefaneich.com/

Es ist da! Es geht um Aufstieg, Niedergang und Nachleben der fossilen Moderne; um moderne Geschichte als Naturgeschichte; um die materielle Vermittlung des Sozialen durch Kapital und Kohlenstoff; um Kritik an sozialen Verhältnissen, die buchstäblich Natur geworden sind. shorturl.at/FJnFc

Fossile Moderne. Buch von Andreas Folkers (Suhrkamp Verlag)

Was immer der »Motor« moderner Gesellschaften sein mag, fossile Brennstoffe sind... | Buch von Andreas Folkers versandkostenfrei & direkt vom Verlag kaufen

suhrkamp.de

Bailey’s obsession w/ quantitative tightening should be a *much* more important story in any account of what’s going on w/ UK gilts. But, perversely, if a Chancellor were to point out that the Bank of England wields quasi-fiscal powers, this would be seen as a violation of central bank independence

Daniela Gabor@danielagabor.bsky.social · 11mo ago

it's Monday, another day when Andrew Bailey, the governor of the Bank of England, enjoys fiscal powers nobody gave him, and uses them against the government www.theguardian.com/business/202...

@rlspang.bsky.social provides lots of details here on the politics of recent goldsilverbuggery. Also helpful: this article from a few years ago by @stefeich.bsky.social on crypto and the politics of depoliticization: academic.oup.com/book/36505/c...

Old Utopias, New Tax Havens: The Politics of Bitcoin in Historical Perspective

AbstractCryptocurrencies are frequently framed as future-oriented, technological innovations that decentralize money, thereby liberating it from centralize

academic.oup.com

Rebecca Spang@rlspang.bsky.social · last yr.

WaPo published a puff piece about "new state legal tender laws." As @grahamhubbs.bsky.social noted, it took them 500 words before they introduced a skeptical view. I've written about it, but wasn't sure how to get it published--so it's on my website for now. Please read! www.rebeccalspang.org/blog

Heartening to see the spirit of Keynes channeled in today’s Letters to the FT. The CB rush to gold is far darker than portfolio diversification. It represents an admission of international institutional collapse and a tragic shift into unproductive hoarding. Bravo Vishnu Nair!

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Thanks for reading! Actually working on some projects on “counterfeit democracy” (including of the crypto variety) with Leah Downey, whose recent excellent book you might also appreciate.

Curtis 🏳️‍🌈@soccurt.bsky.social · last yr.

Just finished @stefeich.bsky.social's challenging but excellent 2022 book The Currency of Politics. Covering various thinkers from Aristotle to neoliberals, it was an interesting intellectual history of attempts to politicize (and often democratize) money and to de-politicize (de-democratize) it.

Bloch: “I believe, Teddy, that we are certainly in agreement here: the essential function of utopia is a critique of what is present. If we had not already gone beyond the barriers, we could not even perceive them as barriers.”

I'm just going to throw this book by @stefeich.bsky.social into the ring, as I think it talks about the most important aspect of money fundamental at play here: "... to show how money is not just a medium of exchange but also a central institution of political rule."

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This bespoke exception for the Fed is one of the most brazenly made-up things I've ever seen the Supreme Court do (which is saying something). There is no principled basis to distinguish the Fed from other independent agencies. The conservative justices just don't want Trump to crash the market!

Mark Joseph Stern@mjsdc.bsky.social · last yr.

The Supreme Court goes out of its way to say that its order today does NOT allow Trump to remove members of the Federal Reserve because it is "uniquely structured" and has a "distinct history tradition." (I do not think those distinctions hold water.) www.supremecourt.gov/opinions/24p...

Refugee Assistance Project, 582 U. S. 571, 580 (2017) (per
curiam) (“The purpose of . . . interim equitable relief is not
to conclusively determine the rights of the parties, but to
balance the equities as the litigation moves forward.” (citation omitted)). A stay is appropriate to avoid the disruptive
effect of the repeated removal and reinstatement of officers
during the pendency of this litigation.
Finally, respondents Gwynne Wilcox and Cathy Harris
contend that arguments in this case necessarily implicate
the constitutionality of for-cause removal protections for
members of the Federal Reserve’s Board of Governors or
other members of the Federal Open Market Committee.
See Response of Wilcox in Opposition to App. for Stay 2−3,
27−28; Response of Harris in Opposition to App. for Stay 3,
5−6, 16−17, 36, 40. We disagree. The Federal Reserve is a
uniquely structured, quasi-private entity that follows in the
distinct historical tradition of the First and Second Banks
of the United States. See Seila Law, 591 U. S., at 222, n. 8.
The March 4, 2025, order of the United States District
Court for the District of Columbia, No. 25−cv−412, ECF
Doc. 39, and the March 6, 2025, order of the United States
District Court for the District of Columbia, No. 25−cv−334,
ECF Doc. 34, are stayed pending the disposition of the appeal in the United States Court of Appeals for the District
of Columbia Circuit and disposition of a petition for a writ
of certiorari, if such a writ is timely sought. Should certiorari be denied, this stay shall terminate automatically. In
the event certiorari is granted, the stay shall terminate
upon the sending down of the judgment of this Court.