Bitcoin and Opting Out of the IMF & World Bank

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 4 December 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Circle and Kraken. On today’s “Long Reads Sunday,” NLW reads Alex Gladstein’s Twitter version of his new essay "Structural Adjustment: How the IMF and World Bank Repress Poor Countries and Funnel Their Resources to Rich Ones." - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - Kraken, the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is "Back To The End" by Strength To Last. Image credit: sharply_done/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is sponsored by nexo.io, circle, and crack it, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Sunday, December 4th, and that means it's time for Long
0:27.7	Read Sunday. Before we get into that, however, if you are enjoying the breakdown,
0:31.7	please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper
0:35.5	into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:42.6	All right, folks, happy Sunday, happy weekend. Now, as I was reviewing things to read for this
0:49.4	long read Sunday, there was quite a temptation to read one of the many scathing indictments, explanations,
0:58.6	etc. around SPF. A couple that I highly recommend are Punk 6529's threat on the subject, which
1:05.9	does a better job explaining what happened, than pretty much every mainstream media article we've
1:10.3	seen to date.
1:11.6	And I also need to give a special shout out to David Morris's op-ed on Coindesk.
1:16.5	FTCS's collapse was a crime, not an accident. It says quite crisply what the title suggests
1:22.3	and is an incredibly important message. However, since I've been living inside FTX Fallout, that means you guys have
1:28.9	had to live inside FTX Fallout, and I just didn't want to do it today. Plus, there are some really
1:34.7	good pieces released this week on topics that are actually important in the long run. The first piece
1:41.2	we're going to read comes from Alex Gladstein.
1:48.4	I'm sure that most of you are familiar with Alex's work, but he is the chief strategy officer at the Human Rights Foundation.
1:50.5	He writes essays for Bitcoin Magazine.
1:52.6	He wrote a book called Check Your Financial Privilege, and is just a really great thinker
1:56.4	when it comes to Bitcoin in the broader world.
	...

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