China's Crypto Ban... Why Now? | Sahil Bloom (SotN 9/28)
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 29 September 2021
⏱️ 62 minutes
🧾️ Download transcript
Summary
"Evergrande is the train wreck that the financial world and media can’t help but watch."
A week ago, Sahil Bloom dropped a thread on twitter detailing the buildup and consequences of the Evergrande debt crisis. This week, he's coming on State of the Nation to paint a macro picture of global events and their effects on the economy and crypto.
There are so many puzzle pieces in the world at large, and we're trying to get to the bottom of how it all settles. What does this mean for the global economic landscape? How does this line up with another recent China Crypto ban?
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Topics Covered
0:00 Intro
5:30 Sahil Bloom
8:36 What Happened to Evergrande?
15:48 Risk to Chinese Economy
20:08 Who's Getting Punished?
27:39 Transparency & Trust
31:54 Central Bank Decisions
36:58 Updates on the Situation
42:00 China's Crypto Ban... Why Now?
47:22 Why Take it Seriously?
52:35 Geopolitical Rivalry
56:58 Bullish for Crypto?
1:00:38 Closing & Disclaimers
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Resources:
Sahil on Twitter:
https://twitter.com/SahilBloom?s=20
Sahil's Evergrande Thread:
https://twitter.com/SahilBloom/status/1439920043404546050?s=20
Sahil's Newsletter:
https://sahilbloom.substack.com/
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https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Hey, Bankless Nation. Welcome to another state of the nation. David and I are super excited about |
| 0:05.2 | this. David, it's great to have you back state sides. We can talk about this. This is a talk that |
| 0:11.5 | we've wanted to do since like last week. Evergrande made the headlines. There is some |
| 0:16.6 | lot of stuff going on in China that I think we want to unpack today. It is affecting macro markets. |
| 0:22.6 | It's affecting crypto as well. And we have a saw hill bloom who is an expert on the subject |
| 0:28.9 | to talk about it with David. How are you doing, man? You feeling refreshed from all your conference |
| 0:34.2 | travels? Oh my god. Extremely. It's so nice to be back in my actual apartment with my actual setup. |
| 0:39.1 | I hate recording podcasts on a laptop. So it's good to be back and going to be back into the |
| 0:44.4 | 20 things, making more content out of the bankless ecosystem. Content never stops around. |
| 0:48.8 | Never stops. No, that's okay. You know what? And like events never stop either. crypto never stops. |
| 0:54.6 | So why are we talking about Evergrande today? Why is that important to the crypto story? And |
| 0:59.7 | yeah, what's what's the TLDR here? So there's so many puzzle pieces floating around the world |
| 1:05.3 | right now. We have the United States as a nation state being very hostile to crypto. We have Evergrande |
| 1:11.2 | which is a very large real estate like Gargantuan in the Chinese markets. And China is also |
| 1:17.5 | becoming really, really hostile to crypto. Meanwhile, the quantitative easing and loose monetary |
| 1:24.4 | policy continues. And also now we have apparently a catalyst for a potential catalyst for a |
| 1:32.4 | excuse me, a global contagion event. We're going to see if that description is still relevant |
| 1:39.1 | a week later. But there's so many different puzzle pieces that are like floating around, |
| 1:43.8 | hanging around in the airs, and we're trying to see how it settles. So what we're trying to |
| 1:48.8 | discover today is does this Evergrande real estate, what's the word, like crisis I guess? How much |
| 1:57.5 | is that going to impact the future of monetary policy out of China? How much is that going to impact |
| 2:02.2 | our crypto industry? And how much of that is impacting the markets as we see them right now? |
... |
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