Viewing profile — reese_john

It is a testament to the bloat and overreach of the Brazilian state in the economy. Such endeavors should be left to the private sector

I suggest you go read the SFN messaging manuals from BCB if you truly want to understand how interbank communication works. It is very well documented. You clearly don’t know what …

I don’t even understand what you mean by “banks had to talk to each other” and why you are referring to TED in the past tense when it’s still the largest settlement method by BRL a…

Have you ever worked in a financial institution? This is such a common occurrence that the BCB had to impose a default $200 nightly limit for Pix trns between 8pm and 6am. The way …

> Second, good - they should have an _algorithm_ checking every transaction. MasterCard and VISA do it and do nothing for me; You are confusing transaction authorization done by ca…

… and yet they both suffer from availability issues despite not having nearly the same scale as e.g. Nubank who uses AWS Caixa was down yesterday: https://www.techtudo.com.br/googl…

Yes, but my point was more nuanced, I didn't mean to say that the state needs a fully owned solution. The original article opens up with "Pix is igniting a geopolitical and commerc…

> I'm here just to clear out the confusion regarding the infrastructural pieces. The core PIX is undeniably sovereign and state-owned Sure, I can see the confusion, I should have m…

> The "investigations" are political posturing. PIX is not "unfair business practice" Agree > its a modern, cheap, state-of-the-art payments system that is better than what private…

> Banco Central controls the core, and that's all it needs to. This is good design. Descentralized, modern, resilient and efficient. I agree. But was that not the case before Pix/S…

> US officials involving themselves in your national market because they are unhappy with the market share of their companies in it Just to clarify, for anyone who’s been paying at…

Please, he literally went on national TV on Brazil’s Independence day to claim that “We will defend PIX from any attempt at privatization. PIX belongs to Brazil, it's public, free,…

This is a minor technicality, if private banks are down then the SPI is basically useless. Banks can send money to each other but clients can’t see it. > What went down were apps P…

> But mentioning Brazil's president on this meter just adds even more politics to the discussion. This quote is literally from the linked article — he is mentioned there > Do you h…

This is not a real problem outside of niche industries American companies are great to do business with. Most countries, including Brazil, simply don’t have the capability to pull …

USD is a hard currency unlike the BRL. It is not supposed to move that fast by design. Google “Regulation E”. Brazil has no such strong provisions for protecting unauthorized trans…

It is worth noting that despite all this cheap sovereignty talk from Brazil’s president, in practice Brazil would not be able to operate Pix at that scale without heavily relying o…

TED is still very much alive. In fact, the BRL amount settled via TED is still higher than Pix, although the gap seems to be closing

The treasury has an account at the FED called TGA[0] which is funded by tax payments and proceeds from new Treasuries issuance https://en.wikipedia.org/wiki/Treasury_General_Accoun…

> Perfectly implements" is doing a lot of work there. Enterprise software is very rarely perfect out of the box Fair, by “perfectly implements” I meant to say that it correctly imp…

If you are a company founder, what scenario would you rather find yourself in? a) a pristine, good codebase that follows the best coding practices, but it is built on top of bad sp…

With CRS and FATCA, no one is hiding their wealth just by having offshore assets. Owning offshore assets also doesn’t automatically exempt you from paying taxes, since your tax lia…

Why build each new airplane with the care and precision of a Rolls-Royce? In the early 1970s, Kelly Johnson and I [Ben Rich] had dinner in Los Angeles with the great Soviet aerodyn…

This seems to be a short range (290km) anti-ship cruise missile. Definitely not an unstoppable carrier killer What could threaten US carries are China’s DF-21D/26D – anti-ship ball…

Not an accountant, but I think this is false If you intend to hold to maturity then you should accrue the bond coupons over time, that’s the modal case If part of your bond portfol…