A Debt Jubilee to Save the Economy with Arthur Hayes - WBD663
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 26 May 2023
⏱️ 56 minutes
🧾️ Download transcript
Summary
Arthur Hayes is an entrepreneur and the former CEO of BitMEX. In my first interview with Arthur, we discuss the state of the world at the moment: what happened with FTX, money printing, the coming collapse, debt jubilees, the need to acquire assets outside the system like Bitcoin, good and bad AI scenarios, and a powder keg of issues that'll hit the markets this fall.
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Arthur Hayes was the co-founder and former CEO of BitMEX, which was one of the largest crypto exchanges and derivatives platforms. In 2021, its average daily trading volume was over $2 billion. Hayes was famously charged in the southern district of New York for violating the Bank Secrecy Act. He got 2 years probation and a $10 million fine.
But Hayes remains an authoritative voice within the crypto and Bitcoin communities. Nic Carter called him "One of the good guys of crypto." He now has a mission to help spread financial literacy and educate investors, which he does through regular medium posts, columns in leading journals and interviews with podcasters. And, he has a knack for calling the market.
In this short interview, we pack in a surprising number of issues: Hayes's investment strategy, and views on crypto and Bitcoin; opinions on the FTX scandal; fragility in the banking sector; historical currency debasements and the inevitability of a coming collapse; the use of debt jubilees to right society; investing in assets that can weather the coming storm; the impacts of AI; and the debt ceiling.
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Transcript
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| 0:00.0 | You're basically putting this powder keck together of a situation that's going to be |
| 0:09.4 | exploding in Q3 and Q4 this year and so you know what I think ultimately it will be good for |
| 0:14.6 | Bitcoin it could be quite volatile on the up and the downside. |
| 0:18.0 | Hello there how are you all I finally left Miami our trip has finished. I'm in New York I'm filming for a film and then I'm going to be flying back to bed for tonight. |
| 0:28.0 | Can't wait. Can't wait to get home but it's been an incredible trip. |
| 0:31.0 | Also we have just announced our first trip to Australia. Yes, September |
| 0:36.0 | the 9th we're going to be in Sydney we're going to be recording our live show. |
| 0:39.8 | If you want to get a ticket for that head head over to what Bitcoin did dot com and click on |
| 0:43.7 | WBD live. Can't wait to get down under. |
| 0:46.4 | Anyway, welcome to the What Bitcoin did podcast, which is brought to you by Iris Energy, |
| 0:51.0 | the largest Nasdaq listed Bitcoin, using 100% renewable energy. |
| 0:55.0 | I'm your host Peter McCormack, and today I've got an absolute bang for you. |
| 0:59.0 | We dragged Arthur Hayes away from a bachelor party and sat down him for an hour, got into money printing, |
| 1:04.7 | debt jubiles, and an impending financial crisis. |
| 1:08.0 | And also, we covered why he travels with a suitcase full of cuddly toys. |
| 1:11.7 | Now, I know you're're gonna love this one. |
| 1:12.9 | It is an absolute banger. |
| 1:14.3 | If you got any questions about this |
| 1:15.3 | or anything else, you can drop me an email. |
| 1:17.0 | It's hello at what Bitcoin did. |
| 1:20.1 | You followed Wrexham, the team that Ryan Reynolds bought? |
| 1:25.0 | No. |
... |
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