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Fintech SCB — 에디토리얼
금융, 경제, 지정학 그리고 세계를 움직이는 힘에 대한 독립적 분석.
글로벌 금융, 시장, 경제, 지정학, 국제 비즈니스에 대한 독립적 시각 — Fintech SCB 창업자 겸 CEO 로베르토 발비노 집필.
Great ideas are everywhere. Capital, execution and success are not.
Trump says America is getting richer. The paycheck says maybe.The receipt says not so fast: in many parts of the country, the cost of everyday life is still rising faster than the purch power of wages
High taxes are not necessarily the problem. The real scandal begins when some citizens pay almost everything they owe, others do not, and both receive the same public services.
When visibility replaces substance, is Substack still publishing — or just another social network?
Trump says strong jobs should automatically mean higher stocks, lower rates and even 15–20% GDP growth. That is not how monetary policy, inflation, bond markets or equity valuation work
From a London fintech experiment to a global banking powerhouse: the rise, reinvention and contradictions of Revolut — and how it changed what customers expect from money.
QUATTRO ANNI PER RESTARE AL POTERE, NON PER CAMBIARE L’ITALIA: CRESCITA DA 0,x%, DEBITO IN RISALITA, SALARI REALI IMPOVERITI, GIOVANI IN FUGA, SOVRANISMO ARRESO ALLA REALTÀ
ESTANCAMIENTO, DEUDA, SALARIOS REALES DEPRIMIDOS, ÉXODO JUVENIL Y EL FRACASO DE LA PROMESA SOBERANISTA.
STAGNATION, DEBT, FALLING REAL WAGES, YOUTH EXODUS — AND THE FAILURE OF THE SOVEREIGNIST PROMISE.
Crescita debole, debito ancora enorme, salari reali sotto pressione e una politica migratoria da leggere senza slogan: meno sbarchi non significa meno immigrazione, e i rimpatri restano il vero banco
From digital banks to payment infrastructure, SME credit and stablecoin rails: the real transformation of Latin American finance is happening underneath the consumer interface.
How Billionaires and Multinationals Legally — and Sometimes Aggressively — Minimize Their Taxes
How the financing of artificial intelligence is quietly changing global capital markets
For decades, European beauty companies dominated the global cosmetics industry.
Jobs are not disappearing. They are moving — between sectors, countries, generations and skill levels. AI is accelerating the process, demographics are making it unavoidable, and migration is becoming
There is something fundamentally wrong with LinkedIn.
The U.S. debt problem is real. The inevitability of a debt crisis is not.
Netflix is one of the most extraordinary financial machines ever created in the entertainment industry.
An independent reflection on money, trust, responsibility, memory and the price of leaving things unresolved
Why Delaware became America’s corporate jurisdiction — and why the reality is very different from the offshore myth
The Global Guide to Low-Tax Jurisdictions, Tax-Free Regimes, Free Zones, Trusts, Foundations, International Banking and Tax Residency Understanding the New Global Architecture of International Tax Pl
Central-bank operations, bank credit creation, repo markets, collateral, shadow finance and the illegal mechanisms that can manufacture the appearance of legitimate liquidity
Schengen and the euro were extraordinary achievements. But Europe stopped halfway.
The death of Ratko Mladić on August 27, 2026, in The Hague has reopened one of the deepest wounds in modern European history.
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
이 아카이브에는 2026년 8월 21일부터 11월 4일까지 발행된 금융, 경제, 은행, 시장, 지정학, 기술, 사회, 비즈니스 및 스포츠 관련 콘텐츠 191편이 수록되어 있습니다.
시장, 은행, 투자 및 금융 트렌드.
경제 정책, 성장, 인플레이션, 부채, 구조적 변화에 대한 독립적 분석.
정치적 결정이 시장, 자본 흐름, 세계 경제를 어떻게 바꾸는가.
국경을 넘는 금융, 국제 비즈니스, 신흥시장, 글로벌 기회.
로베르토 발비노는 국제 금융·뱅킹 임원이자 Fintech SCB의 창업자 겸 CEO로, 금융, 뱅킹, 프라이빗 뱅킹, 자산관리, 기업금융, M&A, 국제 비즈니스 분야에서 40년 이상의 경험을 보유하고 있습니다.
그의 분석은 수십 년의 금융 경험과 글로벌 시장·경제를 움직이는 힘에 대한 독립적이고 종종 비관습적인 시각을 결합합니다.
금융시장은 숫자만으로 움직이지 않기 때문입니다.
정치, 권력, 통화정책, 기술, 자본 흐름, 그리고 인간의 결정이 시장을 형성합니다.
Insights는 이 힘들을 연결하고 통념에 의문을 제기합니다.
기관 투자 어젠다가 없습니다.
국경을 넘어 금융과 경제를 봅니다.
합의를 반복하기보다 질문하도록 설계된 분석.
Substack에서 로베르토 발비노를 팔로우하고 새로운 분석을 메일로 받아보세요.
팔로우는 무료입니다.
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