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Fintech SCB — エディトリアル
金融・経済・地政学、そして世界を動かす力についての独立した分析。
グローバル金融、市場、経済、地政学、国際ビジネスに関する独立した視点 — Fintech SCB 創業者兼CEO、ロベルト・バルビーノによる執筆。
Prices rise. Incomes do not. The ECB cannot hide the arithmetic.
Governments across the region have adopted debt limits, spending ceilings and medium-term frameworks. Markets remain unconvinced because a rule rewritten whenever it becomes inconvenient is not a rule
Exchange rates can expose weak fundamentals. They can also amplify fear, leverage and market dysfunction. The difficult question is when intervention protects a failed government policy
The political pattern is visible. The economic explanation is much more complicated.
Strong Growth and Persistent Inflation Are Keeping Rates Higher for Longer.
Income inequality tells only half the story. What matters is what salaries can buy, who actually pays taxes, who owns the wealth — and whether education still allows the next generation to move up.
Chelsea, American Billionaires and the Funds Turning European Clubs into Financial Assets
Why record stock indices tell us much less about economic prosperity than financial television, politicians and investors sometimes suggest
Chelsea, i miliardari americani e i fondi che hanno trasformato i club europei in asset finanziari
GDP can grow, inflation can fall and fiscal accounts can improve. But without personal security, rule of law and credible institutions, prosperity remains fragile — and foreign capital knows it.
From an Italian racing prodigy to a €50 million personal brand: Mercedes, image rights, San Marino, taxation and the economics behind Formula 1’s new superstar
Banks have become structurally dependent on abundant reserves. Quantitative tightening is revealing that “normal” monetary policy may no longer have a clear destination.
Everyone defends freedom — until someone uses it to disagree with them
European households save heavily, invest defensively and help finance American technology. The continent is paying for the AI revolution without securing its economic or strategic benefits.
Stablecoin yields can ignore, delay or even reverse monetary policy. DeFi is no longer merely a crypto experiment: it is becoming a parallel monetary system with its own transmission mechanism.
AI safety is colliding with geopolitics — and geopolitics usually wins.
Seguridad, litio, inteligencia artificial, inversiones, los Acuerdos de Isaac y ahora la paradoja de Malvinas. Nunca la relación argentino-israelí había adquirido una dimensión política tan personal.
When the engineers building the accelerator start asking for brakes, perhaps we should understand what they have seen.
How hidden cash enters the financial system — and where legality ends.
The arithmetic behind Trump’s $5,000 promise: tariffs, $40 trillion of debt, inflation and the bill nobody puts on the check
From Jerusalem to lithium, AI and the Falklands: how far does Milei’s alliance with Israel go?
Tiene lógica económica. Políticamente, hoy parece casi imposible.
Ukraine Before the Myth: Poverty, Migration, Corruption — and Who Will Profit From the Peace
Ukraine Before the Myth: Poverty, Migration, Corruption — and Who Will Profit From the Peace
FINTECH SCB Insights / Wealth Management
Italiano
Come investire 10 mila, 100 mila, 1 milione e 10 milioni di dollari
Tre regole prima delle percentuali. Quattro aree geografiche. Sedici portafogli. Una visione integrata di investimenti, casa e successione.
Roberto Balbino / FINTECH SCB
Ricerca indipendente per la rete FINTECH SCB
25 ottobre 2026 · Edizione estesa 1.0 · 63 pagine · PDF
Lettura e download gratuiti
English
How to invest $10,000, $100,000, $1 million and $10 million
Three rules before percentages. Four geographic areas. Sixteen portfolios. An integrated view of investment, homes and succession.
Roberto Balbino / FINTECH SCB
Independent research for the FINTECH SCB network
25 October 2026 · Extended edition 1.0 · 63 pages · PDF
Free to read and download
Español
Cómo invertir 10 mil, 100 mil, 1 millón y 10 millones de dólares
Tres reglas antes de los porcentajes. Cuatro áreas geográficas. Dieciséis carteras. Una visión integrada de inversión, vivienda y sucesión.
Roberto Balbino / FINTECH SCB
Investigación independiente para la red FINTECH SCB
25 de octubre de 2026 · Edición ampliada 1.0 · 63 páginas · PDF
Lectura y descarga gratuitas
FINTECH SCB Insight · November 2026 · by Roberto Balbino
What I Invest In Now
On November 3, 2026, American voters gave Democrats the House and the Senate. Markets sold the result overnight and bought it back by breakfast; the bond market moved first.
After Mid Trump turns that night into decisions: the policies that can still become law under divided government, why the middle of the Treasury curve beats the long end, and a model portfolio built position by position, with the signals that would prove the author wrong.
88 pages · 17 charts · 228 source notes · research cutoff November 4, 2026
General information and education, not individual investment, tax or legal advice. The model portfolio is illustrative. Capital is at risk.
FINTECH SCB Insight · October 2026 · by Roberto Balbino
How the AI Boom Became a Credit Cycle—and Who Will Hold the Loss
The debate over artificial intelligence is still argued as a stock-market question. The money has already moved somewhere else.
In 2026 the largest spenders on AI stopped paying for the build-out out of their own cash. In the first half of the year, capital expenditure at Microsoft, Alphabet, Amazon, Meta and Oracle absorbed 96 percent of the cash their businesses generated. At Alphabet, Amazon and Oracle it now exceeds it. Their reported debt has more than doubled in less than two years, to about $496 billion. Another $1.2 trillion of leases, signed mostly for data centers not yet delivered, sits outside their balance sheets.
Off the Books follows the contracts. It looks at joint-venture bonds backed by residual value guarantees, vehicles that own the chips, loans secured on hardware that ages faster than the debt, and guarantees written by the chipmakers themselves. It identifies who holds the claims: life insurers and the annuities behind them, semi-liquid private credit funds, and the banks that lend to the lenders. These are the institutions least able to leave when the numbers turn.
The Insight tests its own argument against the strongest objections and sets out three paths to 2028. It also states in advance the evidence that would prove it wrong. It closes with practical guidance and a dashboard of indicators for savers, entrepreneurs, credit investors and policymakers.
Shareholders can sell in a second. The people financing the AI build-out cannot.
78 pages · 23 figures and tables · fully sourced · data to October 29, 2026
Fintech SCB Insights / Educational Master
How to Read Markets, Build Portfolios and Evaluate Hedge Fund Processes
A 64-page guide by Roberto Balbino, Founder & CEO of Fintech SCB, exploring market indicators, hedge fund strategies, portfolio construction, liquidity, leverage and performance evaluation. Includes analytical charts, practical worksheets, a glossary and institutional references. An independent framework for understanding investment decisions and questioning performance claims.
October 2026 edition · English · PDF · Free download
このアーカイブには、2026年8月21日から11月4日までに公開された、金融、経済、銀行、市場、地政学、テクノロジー、社会、ビジネス、スポーツに関する191本のコンテンツが収録されています。
市場、銀行、投資、金融トレンド。
経済政策、成長、インフレ、債務、構造変化に関する独立した分析。
政治的決定が市場、資本フロー、世界経済をどう変えるか。
クロスボーダー金融、国際ビジネス、新興市場、グローバルな機会。
ロベルト・バルビーノは国際金融・バンキングのエグゼクティブであり、Fintech SCB の創業者兼CEO。金融、バンキング、プライベートバンキング、ウェルスマネジメント、コーポレートファイナンス、M&A、国際ビジネスで40年以上の経験を有します。
その分析は数十年の金融経験と、世界の市場と経済を動かす力に対する独立した、しばしば型にはまらない視点を組み合わせています。
金融市場は数字だけで動いているわけではありません。
政治、権力、金融政策、テクノロジー、資本フロー、そして人間の判断が市場を形づくります。
Insights はこれらの力を結び付け、通説に疑問を投げかけます。
機関投資家的な思惑はありません。
国境を越えて金融と経済を捉えます。
コンセンサスを繰り返すのではなく問い直す分析。
Substack でロベルト・バルビーノをフォローし、新しい分析を受信箱で受け取れます。
フォローは無料です。
このパブリケーションをフォローするための支払いは不要です。
