The Rasheed Griffith Show

Send us a textWelcome back to Caribbean Progress with Rasheed Griffith, a podcast of CPSI. In this episode, I am joined by the insightful Joseph Wang, a former senior trader on the open market desk at the Federal Reserve Bank in New York. We discuss the expanding internationalization of the Fed and the steadfast dominance of the USD in global trade and finance across the dollar zone. Key Points0:00 Internationalization of the Fed9:40 Interest Rates in the Dollar Zone14:13 Fed's Policy and the Eurodollar Market20:02 US Dollar's Importance in Global Finance29:53 Fed's Global Influence and Future Expansion34:38 Transition From LIBOR to SOFR39:49 Modeling Limitations in EconomicsRecommendationsGet Joseph's excellent book Central Banking 101 and follow him on X (formerly Twitter) @FedGuy12. You can also read some of Joseph's detailed analysis on more advanced topics on his blog www.fedguy.comSubscribe to CPSI SubstackFollow Rasheed on X @rasheedguo

Send us a textFrom QQ Girls to CFIUS Reviews. In this episode Rasheed is joined by Martin Chorzempa, a Senior Fellow at the Peterson Institute, to discuss Martin's book The Cashless Revolution about China's reinvention of money and the future of America's dominant role in the global financial technology industry. Martin on X (formerly Twitter): @ChorzempaMartinRasheed on X: @rasheedguoVisit our Substack at cpsi.media

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Send us a textThis week, we discuss the fascinating chronicles of monetary evolution with Dr. Dror Goldberg, an economics scholar from the Open University of Israel. From the captivating myth of Yap stone money and its striking similarities to Bitcoin. We dive deep into the economic journey of the Massachusetts colonies in the 17th century.The 17th century Massachusetts, a bustling trade center marked by Puritan settlers and their innovative financial ideas, sets the stage for our discussion. We dissect its unique economic landscape, its connections with the Caribbean, and the unfolding of a monumental economic innovation - the advent of paper money. The intricacies of its inception and the critical role played by the Puritans.Fast-forward to the modern era, we unearth the origins of the Federal Open Market Committee, tying its genesis to the intricate checks and balances of the American Puritan system. We also probe the complex relationship between legal tender laws and the utilization of money. As we round off our conversation, we delve into the evolution of money from primitive seashells to modern digital payments. We touch upon Israel's financial independence journey in 1948 and explore Massachusetts' paper money reliance on being legal tender for taxes. Check out Dr. Goldberg's WebsiteOn X (Twitter): @DrorGoldberg

Send us a textLet's unravel the complexities of Charter Cities with Mark Lutter, a pioneer who is shaping urban landscapes as the CEO of Braavos Cities, and founder and chairman of the Charter Cities Institute. Is it possible to revolutionize economic growth through innovative governance? This episode, Rasheed and Mark unravel the intricacies and debates surrounding Charter Cities, offering a compelling conversation that challenges conventional wisdom around city planning and economic growth.ResourcesBraavos CitiesCharter Cities InstituteThe Seasteading InstituteDP WorldKey Points [00:58] Why Charter Citites Remain Relevant [03:05] Is Urbanization Mesaurable? [04:42] Objections to Charter Citites[07:47] Improvement of Institutional Frameworks[12:12] The Role of Culture for a New City[14:57] A Need for a Renaissance City or Suburbia[17:20] Mental Modeling the Need for Charter Cities[20:00] Charter Cities Institute’s Vision[22:21] Dubai’s Place in Being a Progress City[24:51] Honduras’ Success as a Host Country[30:17] The Upcoming Project in the CaribbeanContact Info: Mark LutterWebsite: www.marklutter.comX (Twitter): @MarkLutterEmail us at progress@cpsi.org

Send us a textCan you imagine the catastrophic consequences of your country being blacklisted internationally? Join Rasheed as he chats with Marla Dukharan, a top Caribbean economic advisor, as we unpack the intricacies of this reality many Caribbean nations face. They dare to question the motives and fairness of international entities like the Financial Action Task Force and the OECD and how their blacklisting practices have devastatingly derailed these countries' reputation and development targets. Their discussion is not all gloom; they thoroughly examine the negative impacts of such blacklisting and brainstorm potential strategies that small countries can adopt to fight back. They look closely at how blacklisting has crippled insurance companies, led to the removal of the Schengen visa exemption, and interfered with the functioning of aid and concessionary financing. An intriguing section of our discussion uncovers a hopeful UN resolution spearheaded by the African Union. The resolution aims to empower low and middle-income countries with decision-making power over global tax affairs. As our conversation concludes, Marla and Rasheed reflect on the vitality of financial stability, economic growth, and the necessity for global collaboration. Please note the abbreviations used in the episode:EU - European UnionOECD - Organisation for Economic Co-operation and DevelopmentFATF - Financial Action Task ForceAML - Anti-Money LaunderingCFT - Criminal Financing of TerrorismFT - Financial TimesFIU - Financial Intelligence UnitsCARICOM - Caribbean CommunityBajan is a commonly used term for Barbadian ResourcesOECD pressed Australia to drop plan to reveal where multinationals pay tax by Financial TimesEU Blacklisting of Vanuatu: History, Analysis, and Socio-Economic Implications by Marla DukharanWhen A Blacklist Is, Unfortunately, Just That by Marla DukharanContact Info: Marla DukharanWebsite: marladukharan.comTwitter: @MarladukharanEmail us at progress@cpsi.org

Send us a textIn this episode of Caribbean Progress, Rasheed speaks with Humberto Macias, who previously served as the Deputy General Counsel of Honduras PrósperaThe promoter behind Próspera ZEDE. Being one of the first team members to relocate to Honduras for this tremendous project, Rasheed and Humberto discuss the growth of Próspera thus far and Honduras’ varying demographics. They dive into the details of the recent repeal of the ZEDE laws by the Castro administration and the effects this might have on foreign direct investment to Honduras. They also discuss why Próspera will remain resilient even amidst the changing political environment. Note: ICSID - International Centre for Settlement of Investment Disputes ZEDE - Zonas de Empleo y Desarrollo Económico [Spanish] (Zone for Employment and Economic Development)ResourcesPrósperaKey Points[05:46] Próspera’s Target Market[07:05] The Diverse Population of Honduras[09:31] The Legal Foundation of Próspera (The ZEDE Law)[14:07] Dissecting the Views on the ZEDE Law and its Repeal[18:50] The Implications of the Repealed ZEDE Law[21:59] Explaining the Double Repeal of the ZEDE Law[23:24] International Trade Treaties / The Kuwait Bilateral Treaty with Honduras[26:03] Politicians Awareness Towards the Effects of a Repeal[27:26] International Assumptions on The Próspera Project[30:24] Reinstatement of the ZEDE LawContact Info: Humberto MaciasX (Twitter): @HumbertoNMaciasEmail us at progress@cpsi.org

Send us a textIn this experimental episode of Caribbean Progress with Rasheed Griffith, Rasheed reviews three Caribbean songs with two long-time friends, Kenidi Prescod and Akil Walton. These songs fall under the genre of social commentary calypso, referencing political decisions throughout the Caribbean. This episode was fun, and we hope you enjoy it.Note: Bajan means Barbadian.The lyrics of the songs discussed in the episode are in the transcription section. ResourcesGypsy - Sinking ShipRas Iley - IMF Take OverMighty Sparrow - FederationCaribbean Progress Podcast episode with Anton HowesNotes Towards Caribbean Dollarization (Part 1) by Rasheed GriffithWhat Should A Caribbean Think Tank Do? by Rasheed GriffithContact Info: CPSIX (Twitter): @cpsi_orgEmail us at progress@cpsi.org

Send us a textIn this episode of Caribbean Progress, Rasheed interviews Anton Howes, a historian of innovation. This conversation had no bounds as they speculated what the world could have been if we had utilized water for power in the industrial revolution instead of coal. What if the Caribbean countries remained under British rule? They examined the abolitionist movement in light of the oft-quoted Williams thesis and how economists can better theorize the modern world. The overriding theme is how we can think about progress in an historical context.  Key Points[04:14] Japan Improvement Mentality[07:00] Suspicious Formation of Government Policy[08:22] The Western Design of Progress[15:18] The Water Counterfactual [21:55] Can Economist Explain the Modern World? [28:06] The unfortunate endurance of the Eric Williams thesis[35:35] Could the Caribbean have outpaced Britain?[40:29] The Decline Caribbean Federation[44:18] The Caribbean was Created in London[46:29] Why did the Baltic States fail as Colonial powers?ReferencesArts and Minds: How the Royal Society of Arts Changed a NationContact Info: Anton HowesWebsite: www.antonhowes.comX (Twitter): @antonhowesEmail us at progress@cpsi.org

Send us a textIn this episode of Caribbean Progress, Rasheed chats with Tianyu Fang, a Fellow of CPSI and a well-known tech journalist. This was a far-reaching conversation, from philosophizing on the ideological limits of selling citizenship to the practicality of fiscal policy constraints from reductions in passport demand. They explained why some Caribbean countries have become overly reliant on their Citizenship-by-Investment (CBI) sectors. They also get into the weeds about why so many Caribbean passports are purchased by Chinese citizens.  Rasheed and Tianyu are working on a detailed report about Caribbean CBIs for the Caribbean Progress Studies Institute. ResourcesIus Doni: The Acquisition of Citizenship by Investment by Dr. Christian H. KälinKey Points[01:43] What are Citizenship by Investment Programs (CBI)[04:00] Creation of CBI in the Caribbean[07:22] The False Sanctity of Citizenship[09:53] Gentrification through CBI Fallacy[12:31] Non-Caribbean Citizenship and Residency Programs[16:32] An Unspoken Dependence on Passport Sales[17:34] Is The Revocation of Citizenship Possible?[20:14] The US Misconception of Caribbean Reliance on CBIs[22:28] Counter Arguments to CBI in the Caribbean by US organizations[23:47] Alleged Involvement in Caribbean CBI Programs by the CCP[26:18] Do Chinese CBI Applicants Move to the Caribbean?[27:34] Why are Caribbean Citizenships such a Hot Commodity?[33:25] Bad Due Diligence as an Argument Against CBI in the Caribbean[40:34] CBI as an Economic Scapegoat Contact Info: Tianyu FangWebsite: www.tianyufang.netX (Twitter): @tianyufEmail us at progress@cpsi.org