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The James Altucher Show

Banks, Crypto, China: Do We Need to Be Afraid? | Omid Malekan & Cal Fussman

The James Altucher Show

James Altucher

Education, Business

4.62.7K Ratings

🗓️ 21 March 2023

⏱️ 84 minutes

🧾️ Download transcript

Summary

The US financial system has been going through a period of uncertainty, with various factors contributing to this state of affairs. One major issue that has been in the news recently is the occurrence of bank runs and mid-size bank insolvencies. These events have caused concerns about the stability of the banking sector and the broader financial system.Another factor that has contributed to the current uncertainty is the massive fluctuation of cryptocurrencies. The prices of popular cryptocurrencies like Bitcoin and Ethereum have seen significant fluctuations, with prices soaring to record highs at times and plummeting to new lows at others. This volatility has raised questions about the role of cryptocurrencies in the financial system and their potential impact on traditional banking and finance.In addition to these domestic issues, there is also growing concern about China's increasing influence as an international deal broker. As China's economy continues to grow and expand, it is seeking to play a greater role in global finance and trade. This has led to some anxiety about the future of US financial dominance and the potential for China to become a major player in the international financial system.To shed light on these issues, James and his guest, Cal Fussman, are joined by resident financial expert Omid Malekan. Together, they discuss the root causes of the current uncertainty, the issues that are worth worrying over, and what the future may hold for the American financial system. By examining these issues in depth, they hope to provide insights into the challenges and opportunities facing the US financial system in the years ahead.------------Read Omid's book: Re-Architecting Trust: The Curse of History and the Crypto Cure for Money, Markets, and Platforms------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book Skip the Line is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe  to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsStitcheriHeart RadioSpotifyFollow me on Social Media:YouTubeTwitterFacebook ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

This isn't your average business podcast and he's not your average host.

0:06.7

This is the James Altiger show.

0:18.0

So Oman, I don't know if you know Cal Fussman, he was an editor at large at Esquire.

0:22.2

He interviewed everybody from Gorbachev to...

0:25.0

I always think of Gorbachev, but everybody on down from Gorbachev.

0:29.8

And Larry King and Cal had breakfast every morning for like 700 years.

0:34.9

So he's the interviewer's interviewer and super smart guy.

0:39.4

And Cal Oman is written books about crypto.

0:42.7

He was really responsible for crypto as city group.

0:45.7

Like was one of the top guys for helping city group figure out the crypto landscape.

0:50.2

And Oman and I have worked together since 2002 Oman or 2003.

0:55.3

Yeah, sounds about right.

0:57.5

And that pleasure in me to Cal.

0:59.8

And it's great to be here.

1:01.2

Thank you.

1:02.2

I just thought I was going to be a fly on the wall, but I'm so grateful to be able to participate.

1:06.9

But I'm going to be listening for a while because I got to get caught up on stuff.

1:12.0

Yeah, and Oman, I was thinking I would give like a brief explanation from the banking viewpoint

1:17.7

of what has happened recently, just like in layman's basic terms.

1:22.7

Because I think the media is fanning a lot of different flames and I just want to put it

1:26.7

in perspective.

1:28.0

And then I would love then to hear and maybe even challenge your perspective from a crypto

...

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