The Power of Trust

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Ben Shapiro: The central bank is kind of betrayed our trust. It's like we don't necessarily get a vote on the money supply. I want to ask you about this. Is there some sort of sweet spot where we have a check on power through these non inside money systems? Why can't we just take our money and go somewhere else? He says he would very much be in favor of a more rules based monetary policy.

There are bank runs and also rumors of more bank runs on the horizon. One side says, “the banks are insolvent, get to the lifeboats.” Another side says, “the banks are going to be fine…we’re sick and tired of doomers pulling the fire alarm.” Who’s right?

This is our third episode in a series of conversations. To get the full debate you’ll need to listen to the last two episodes with Balaji Srinivasan and Arthur Hayes.

In this episode, we’re speaking with Ben Hunt who lays out the counterpoint details on why banks are going to be fine. He believes Balaji and Arthur are dangerously wrong. Tune in to hear why!

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------ Timestamps

0:00 Intro 6:55 Ben’s Crypto Credentials 10:36 Critiques of the Fed 16:55 Ben’s Understanding of Balaji’s Thesis 24:33 What Ben Believes is Untrue 33:42 Treasuries Are the Safest Assets? 43:34 Ben’s Objection 45:55 Icebergs 50:52 Fiat is Better? 57:45 Step Back for Society? 1:02:26 Checks on Power 1:07:39 Rules-Based Monetary Policy 1:12:30 How to Fix the Fed 1:15:35 Closing & Disclaimers

------ Resources:

Previous Debates https://www.bankless.com/balaji-bets-the-dollar-will-hyperinflate-to-zero-not-a-drill https://www.bankless.com/arthur-hayes-says-get-your-bitcoin-and-get-out

Ben Hunt https://twitter.com/EpsilonTheory

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