The world's largest market is that for foreign exchange with a turnover running into trillions per day. The mystery is why this market is dominated by trading in London when the US dollar is the main currency in use. What role is played by this market? To many it is a speculator's paradise, exposed to manipulation and contributing to currency volatility. For others it plays a central role in in the operation of the global banking system and a mechanism for maintaining currency stability. In Forex Forever, Ranald C. Michie seeks to provide answers to these and other questions by examining how the foreign exchange market has developed in the City of London over the past 150 years and uncovers its secret existence in London before the First World War. Michie explores how the City of London became the centre of the global foreign exchange market before 1914 through the international banking network, trading on the floor of the Stock Exchange, and the communications revolution that began
The Global Financial Crisis made its first appearance in Britain towards the end of 2007 with the failure of the Northern Rock Bank. It then reached an unparalleled intensity a year later when the gov
This history of the global securities market is the product of over 30 years of research by one of the world's foremost financial historians. It covers all aspects of the history of the securities mar
This is an engaging study of the place occupied by the City of London within British cultural life during the Victorian and Edwardian periods. Michie uses both literary and popular novels to examine s
This is an engaging study of the place occupied by the City of London within British cultural life during the Victorian and Edwardian periods. Michie uses both literary and popular novels to examine s
Without a means of crediting and debiting accounts worldwide and the non-physical transfer of funds, the rapid global economic integration of the late nineteenth and early twentieth centuries would ha
