If by ad hominem you mean in regard to the disingenuous and sanctimonious basis for many arguments against the sovereignty of financial centres, it is in refere

If by ad hominem you mean in regard to the disingenuous and sanctimonious basis for many arguments against the sovereignty of financial centres, it is in reference to the quality of argument, and mere sarcasm is not moral high ground. Regarding the mechanisms of finance, I heartily recommend reading up on topics like insurance linked securities, catastrophe bonds, and other event driven insurance contracts that require managing long term collateral. I'll leave any final words on the topic to you.