Financial Times

Robin is a financial journalist.

He's the editor of the Alphaville blog at the Financial Times, and also co-host of the FT's Story of Money podcast.

And he's just published a very timely new book, A Fabulous Debt: The Epic Story of How Bonds Built the Modern World.

And he joins me here in the studio in London.

They're going to allow excessive leverage for all the hedge funds, right? So let me keep going.

So China, just so you guys know, this is a headline at the Financial Times.

China's U.S. Treasury holdings fall to its lowest level since 2008.

China gold market update.

Grand Duke Guillaume delivers a speech at the 81st UN General Assembly, setting out Luxembourg's position on today's international challenges.

Finance Minister Xu Huot has confirmed the state will keep its stake in the bank bill after the Financial Times reported that Chinese group Legend Holdings have put its 90% holding up for sale.

A 22-year-old student faces attempted murder charges after driving his Porsche Cayenne at 86 km an hour in a 30 km an hour Limpersburg zone, causing an accident that overturned another car.

In other news, world leaders are gathering at the UN General Assembly to address escalating conflicts, AI safety, climate change and the future leadership of the UN.

Luxembourg has also signed new partnership agreements with three UN humanitarian agencies, OCHA, the World Food Programme and the Refugee Agency.

Finance Minister Gilles Roth has confirmed the state will keep its stake in the bank Bill after the Financial Times reported that Chinese group Legend Holdings had put up 90% holding up for sale in a deal valuing the bank at 2.5 billion euros.

Roth called Bill a systemically important bank in the country.

In other news, the UN General Assembly opens today in New York with Secretary-General Antonio Guterres presenting his annual report, followed by addresses from Brazil's President Lula and US President Trump.

Grand Duke Guillaume delivers a speech at the UN General Assembly today, setting out Luxembourg's position on today's international challenges.

Finance Minister Gilles Roth has confirmed the state will keep its stake in the bank-beat bill after the Financial Times reported that Legend Holdings have put up 90% of it for sale.

A 22-year-old student faces attempted murder charges after driving his Porsche Cayenne at 86 km an hour in Limpertsburg, causing an accident that overturned another car.

In other news, world leaders are gathering at the UN General Assembly to address escalating conflicts, AI safety, climate change and the future leadership of the UN.

Prime Minister Luc Frieden said the government was taking it seriously but has urged calm.

Finance Minister Gilles Roth has confirmed the state will keep its stake in Bill after the Financial Times reported that Chinese group Legend Holdings had put up 90% holding up for sale in a deal valuing the bank at 2.5 billion euros.

Roth could build a systemically important bank in the country.

A 22-year-old student faces attempted murder charges after driving his Porsche Cayenne at 86 km an hour in a 30 km an hour Limpur-Berg zone, causing an accident that overturned another car.

Or do we? There is a new book out that is getting a lot of attention.

The Financial Times calls it one of the best books of the summer, and The New York Times Book Review calls it an Editor's Choice.

The book is written by our guest, Sarah Pearsall.

She is a professor at Johns Hopkins University.

[upbeat music] Join the nightly conversation.

America at Night with McGraw Millhaven.

The New York Times Book Review called it one of their Editor's Choice, and the Financial Times called it one of the best books of the summer.

Freedom Round the Globe: A World History of the American Revolution.

well that was a really short and sweet explanation satoshi i really appreciate that and the news cards that we're going to be talking about is regarding mcbdc and we're talking about multi-central bank digital currency project that is mbridge and the news is that saudi arabia guys they have decided to withdraw from the china led mbridge digital currency platform and this was after completing his proof of concept in may of 2025 now it is important to note guys the platform uses blockchain and central bank digital currency to enable faster cross-border payments and promised to reduce reliance on the dollar as an intermediary.

Not as important to note, guys, that Saudi Arabia said that the withdrawal was part of the original plan, while an article that is published by Financial Times notes concerns about potential US pressure alternatives to the dollar.

And here's the thing, Satoshi, the article that is published by Financial Times also states China, Hong Kong, Thailand as well as United Arab Emirates, with Saudi Arabia reportedly continuing some engagement more discreetly.

One of the reasons why this news is important, Satoshi, is because, I believe China's president, he is supposed to be meeting President Donald Trump, isn't it? I do think at a geopolitical level.

This is definitely a genius move by President Donald Trump, and right now he might be having a bit more leverage.

Let's ask what McLemore thinks about that.

But Donald Trump asked, and this is according to the Financial Times, he called them and he said he was desperate to talk about their targeting and hitting with drones and ballistic missiles the diesel fuel refineries in Moscow and surrounding areas.

Senior Ukrainian official told the Financial Times that Trump said he was concerned about rising diesel prices and didn't want a reduction in Russian supplies to further disrupt the global oil world market.

Wow.

Wow, he didn't want that.