

Crypto Voices
Matthew Mezinskis
Podcast covering diverse trends in Bitcoin and blockchain tech, decentralization, entrepreneurship, cryptoeconomics and liberty.
Author note: All authors, whose content is featured on Crypto Voices, are contacted beforehand for permission, regardless of copyright or license such as Creative Commons. If you are an author whose work is reproduced here and you have not heard from Crypto Voices, it's because we couldn't find a way to contact you. However, in this situation your work was already licensed Creative Commons, and it was so great anyway that we just couldn't wait to turn it into audio and put it up!
Any questions, please write info@cryptovoices.com, we'd love to hear from you.
Author note: All authors, whose content is featured on Crypto Voices, are contacted beforehand for permission, regardless of copyright or license such as Creative Commons. If you are an author whose work is reproduced here and you have not heard from Crypto Voices, it's because we couldn't find a way to contact you. However, in this situation your work was already licensed Creative Commons, and it was so great anyway that we just couldn't wait to turn it into audio and put it up!
Any questions, please write info@cryptovoices.com, we'd love to hear from you.
Episodes
Mentioned books

Feb 21, 2023 • 32min
PE29: Decoding M3 - Money supply USA (IX)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-ninth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:13 M0
03:04 M1
04:50 M2
06:40 M3 (Fed discontinued)
09:30 M3
19:03 M0 % of M3
21:52 M1% of M3
25:40 M2% of M3
30:27 Next up is base money
Here we have concluded the entire breakdown (and reconstruction) of the entire United States *public-facing* money supply, from M0, to M1, to M2, and now M3.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 20, 2023 • 32min
PE28: Decoding M3 - Eurodollars (VIII)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-eighth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:58 Money supply "stack"
02:38 What is a Eurodollar?
05:50 How did the Federal Reserve count Eurodollars?
08:35 Eurodollars (Fed discontinued)
10:56 Eurodollars (Porkopolis)
20:30 Argentina's stack of Eurodollars
24:30 Measuring Eurodollars: Much work to do!
26:10 Stablecoins
29:03 M3 non-M2 Total
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering Eurodollars. This is the last video looking at the non-M2 portion of M3 money. It is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 17, 2023 • 34min
PE27: Decoding M3 - Repurchase agreements USA (VII)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-seventh installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:48 Money supply "stack"
02:47 Federal Reserve presser on M3 discontinuation
05:05 Repo market summary
05:28 Why repos: #1 Shadow banking
08:57 Why repos: #2 Liquidity
10:41 Why repos: #3 Leverage
12:30 M3 non-M2 Total (Fed discontinued)
12:39 Large time deposits & Institutional money market funds
13:40 Repos (Banks)
16:30 Repos (Shadow banks)
19:25 Former Fed economist explains repos and M3
24:10 Repos (Fed)
28:58 Fed knows it's a monopoly actor
31:45 Adding up all M3 money supplies found so far
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering repurchase agreements. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 16, 2023 • 19min
PE26: Decoding M3 - Institutional money supply USA (VI)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-sixth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:42 Money supply "stack"
06:37 Institutional time deposits
08:40 M3 non-M2 Total (Fed discontinued)
12:45 Institutional money market funds
16:45 Large time deposits % of M3 non-M2 Total
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 15, 2023 • 26min
PE25: Decoding M2 - Money supply USA (V)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-fifth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:30 Money supply "stack"
02:50 M0
03:37 M1
05:30 M2
09:24 M0 % of M2
11:00 Remember, fiduciary media
14:15 M1 % of M2
Here we look at the next level up for the United States money supply: the M2 money stock. In this video we are summing up all the components of the M2 money supply. (including M1).
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 14, 2023 • 24min
PE24: Decoding M2 (Non-M1) - Money supply USA (IV)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-fourth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:30 Money supply "stack"
02:25 Savings deposits
09:00 M2 non-M1 Total
11:10 Retail money market funds
15:50 Small time deposits
20:10 Savings deposits % of M2 non-M1 Total
Here we look at the next level up for the United States money supply: the M2 money stock. Note that M1 is included in the M2 money supply; however, in this video we cover only the non-M1 monetary components.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 13, 2023 • 1h
CV145: Thomas Pacchia - PubKey Orange Pill
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the one hundred forty-fifth podcast episode from Crypto Voices.
Show support appreciated: donations.cryptovoices.com
Matthew and Alec interview Thomas Pacchia, founder and CIO of HODL Capital, and co-owner of the new bar with a Bitcoin flare in Manhattan, PubKey.
Thomas talks about what it's like owning a bar, with a family, and working to bring the people back out and Bitcoin to the masses in NYC. He also tells some excellent stories about his long career in Bitcoin. We finish reviewing the state of the market today and what to expect moving into the halving.
Links for more info:
https://twitter.com/tpacchia
https://twitter.com/PubKey_NYC
https://pubkey.bar/
Show Sponsor: hodlhodl.com/join/cryptovoices
Hosts: Matthew Mežinskis, Michel, Alec Harris
Music: New Friend Music newfriendmusic.com/
Podcast & videos
Bitcoin, privacy, cryptoeconomics & liberty
Thanks for watching!
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 10, 2023 • 25min
PE23: Decoding M1 - Money supply USA (III)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-third installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:22 Money supply "stack"
03:30 M1 - Porkopolis reconstructed
05:30 M1 - Fed Fed discontinued
08:50 M0 - Cash outside bank vaults
09:10 Sight (demand) deposits
10:45 M0 Money vs. M1 Money
13:30 Do bitcoins fit in here? Only a little...
18:30 Remember, M0 is not the Monetary Base
19:54 Are demand deposits problematic?
Here we look at the classic "narrow money" supply: the M1 money stock, in the United States. We also compare the two components of M1 (M0 and demand deposits) and see what that tells us about the economy and monetary usage.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 9, 2023 • 36min
PE22: Decoding demand deposits - Money supply USA (II)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-second installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:26 Vault cash
08:27 Sight (demand) deposits - Fed discontinued
15:25 Components of deposits in USA
17:15 Adjusting for CIPC
19:17 Sight (demand) deposits - Porkopolis reconstructed
24:05 Vault cash vs. Sight (demand) deposits
31:13 Not the first time we've seen this low ratio
32:55 What then for a bitcoin standard?
Here we look at the total supply of vault cash (physical currency inside bank vaults) versus the total outstanding balances of sight, or demand, deposits in the United States. There are some unfortunate discontinued publications we need to review here by the Federal Reserve, as well as reconstruct our own comparisons. The demand deposit supply is also a component of the second, basic level of the various "M supplies;" that is, a part of M1 Money.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 8, 2023 • 13min
PE21: Decoding physical cash - M0 USA (I)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-first installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:20 Dollar briefly
01:40 History of "Money Supply" curves
02:50 Total physical currency supply
05:35 Physical currency supply outside bank vaults (M0)
06:50 Physical currency % M0 vs. Total
10:40 Be careful of M0 Money vs. Monetary Base!
12:45 More to come and summary
Here we look at the total physical currency supply of the United States dollar, and compare how much is outside of banks (M0) versus how much is inside banks (vault cash). This is also the first level, basic money supply that makes up the various "M supplies;" that is, M0 through M4, etc.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.


