Crypto Voices

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-ninth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:20 Review of 1800s during Gold standard 01:50 World War I 05:05 Fed debt holdings before Great Depression 08:00 Great Depression period 09:10 World War II 12:03 Vietnam War Here we look at the history of the United States Federal debt during the early and mid-1900s, from World War I, through World War II, and through the Vietnam War and the dawn of the fiat standard. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-eighth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:25 First congress, first president, first constitution 01:20 Federal reserve ownership of government 01:55 Total public debt 03:13 Debt vs. Money 05:15 First Bank of the United States 07:20 Second Bank of the United States 09:05 Civil War 11:35 National Banking System 13:45 Classical gold standard Here we look at the history of the United States Federal debt during the 1800s, and how it relates to wars, central banking, and gold. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-seventh video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:20 Log scale 01:20 Best BTC-fitting trend is power trendline 02:20 2010 power trendline 05:20 2012 power trendline 06:10 2014 power trendline 07:30 2016 power trendline 09:45 2018, 2019, 2020, 2022 & all-time trendlines 10:40 What do these good-fitting trends tell us about today? 12:04 What about projecting to 2030? Here we look at the best fitting trendlines across Bitcoin's USD-pricing data; from 2010, all the way until 2022, as well as all-time trendline (until 13 April 2023). All-time trend coefficients: y = a * x ^ b y = y-intercept * x ^ slope y = 7.23E-18 * x ^ 588% https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-sixth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:10 Fed Funds target rate 04:14 Fed Funds effective rate 05:29 Interest on bank reserves 08:40 US 1 year T-bill 09:13 US 2 year T-note 10:08 US 3 year T-note 10:35 US 5 year T-note 10:40 US 10 year T-note 11:00 US 20 year T-bond 11:20 US 30 year T-bond 12:44 Austrian Business Cycle Theory 16:20 Central bank planning board policy rates 18:55 Policy rates exacerbate booms and busts 20:20 Inverted yield curve means recession 22:00 Pretence of knowledge Here we look at the Federal Reserve policy rates, versus the market rate for US government securities. We use this backdrop to describe the basic Austrian Theory of the Business Cycle, and how the central bank exacerbates booms and busts. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-fifth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:55 From discount rate to Discount window 05:25 2006 regulation allowing 'Interest on reserves' 07:38 IORR and IOER are dotted lines 09:35 How and why a 'corridor system?' 11:34 Floored! 19:40 It's definitely possible to lend any and all reserves... 20:18 ...Unless you have an IOR (floor) system 21:55 Not just Bernanke; Yellen & Powell too Here we look at the Federal Reserve's weekly balance sheet versus its base policy interest rates. The Fed has claimed they operate a 'Corridor system.' In reality, the system has been flooring interest rates since 2008, and I explain why in this video. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-fourth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 02:00 Exploding reserves (and balance sheet) 03:20 What happens when supply outstrips demand... 04:35 "Tool 1:" Interest on required reserves 09:09 "Tool 2:" Interest on excess reserves 14:12 Zero interest rate policy years 15:00 Trying to "normalize"... Here we look at the Federal Reserve's weekly balance sheet versus its base policy interest rate in the 1980s until and just after the Global Financial Crisis, which at this time morphed from being the Discount Rate, to the Fed Funds Rate. Many were confused why such extraordinary money printing by the US central bank did not result in hyperinflation... the answer was a new policy tool of the Federal Reserve: Interest on bank reserves. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-third video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:45 Review of all-time high rates 03:03 Once the hard work was done... 05:34 Fed begins new 'Target rate' 10:42 Greenspan put 12:16 The birth of the housing bubble 14:40 Cracks in the system 16:50 Banks expect (demand!) lower base money rates 23:20 Fed funds now has lower and upper bound Here we look at the Federal Reserve's weekly balance sheet versus its base policy interest rate in the 1980s until the Global Financial Crisis, which at this time morphed from being the Discount Rate, to the Fed Funds Rate. If we look closely at the troubles of the GFC, we can actually see that the banks expect the Federal Reserve to cater to them, bail them out, and provide lower rates, as they are borrowing and lending around 100 bps below what the Fed was targeting for many weeks from September through December 2008. The Federal Reserve, eventually, indeed complied with this demand. https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-second video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 00:30 Walter Bagehot 03:20 Bagehot's theory on the lender of last resort 04:56 Great depression (with Bank reserves) 08:14 Fed funds effective rate 10:59 Discount rate is 'penalty' in 50s & 60s 12:35 Discount rate since late 60s not 'penalty' Here we look at the Federal Reserve's weekly balance sheet versus its base policy interest rate in the 1910s and 1920s, which is called the 'Discount rate.' In the early days, this was the rate of interest that banks could get for borrowing directly from the Federal Reserve (and not just in emergency situations, as is the case today), called the 'Discount window.' Walter Bagehot in Lombard Street is quoted very often by central banks, as having defined the original theory of the 'Lender of last resort.' As we see, for most of the Federal Reserve's history, they do not follow his advice. Link to great ep with economist George Selgin on Bagehot, and money: https://open.spotify.com/episode/6AeODcjMg6AojFE7s3W5UQ https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

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-ninth podcast episode from Crypto Voices. Show support appreciated: donations.cryptovoices.com Matthew and Alec interview Lewis Cohen from DLx Law about Bitcoin, crypto, and securities law. He recently co-authored an important paper about the topic for regulators. Contents 00:00 Intro 01:50 Is Bitcoin a security? 02:25 Trends of the SEC 23:02 Narrow bank 31:37 US vs. Abroad 34:06 What is a security? 45:57 Bitcoin, crypto, and regulations 50:12 The ineluctable modality of securities law Links for more info: https://twitter.com/NYcryptolawyer https://dlxlaw.com/who-we-are https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4282385 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.

Check out show sponsor Coinkite: https://coinkite.com/ Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fifty-first video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents 00:00 Intro 01:00 What does the central bank do? 01:40 How do Fed interest rates compare with history? 03:13 Is the interest rate the price of money? 05:47 Centralized control of interest rates 06:30 Roaring 20s and Great Depression 06:45 Why the 'Discount rate?' 09:12 What does the 'Discount rate' mean in Fed-speak? 09:59 'Discount window' was Fed lending directly until 1930s 11:55 Discount rate during Roaring 20s 13:36 Wisdom from Oskar Morgenstern on prices 15:10 Irving Fisher on Stable Money League 16:25 Discount rate into Depression of 1920-21 18:25 Discount rate lowers into Roaring 20s 20:50 Interest rates at near-historical highs into Great Depression Here we look at the Federal Reserve's weekly balance sheet versus its base policy interest rate in the 1910s and 1920s, which is called the 'Discount rate.' In the early days, this was the rate of interest that banks could get for borrowing directly from the Federal Reserve (and not just in emergency situations, as is the case today), called the 'Discount window.' Many banks directly borrowed from the Federal Reserve in the 1910s and 1920s. We also answer some basic questions like: - What is the price of money? - What is the price of credit? - What is the etymology of 'Discount rate?' - How did the Federal Reserve manipulate interest rates in the early days? - Have stocks reached a permanently high plateau? https://porkopolis.io https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.