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This Is Hell!

Crypto and The Silicon Valley Scam Economy / Hadas Thier

This Is Hell!

This Is Hell!

News

4.9937 Ratings

🗓️ 12 October 2023

⏱️ 96 minutes

🧾️ Download transcript

Summary

Hadas Thier returns to talk about her Jacobin article, "The Rot of the Crypto Economy Goes Deeper Than Sam Bankman-Fried." Check out the article here: https://jacobin.com/2023/08/crypto-economy-sam-bankman-fried-bitcoin-ftx-scam After the interview, Jeff Dorchen returns with a new Moment of Truth Help keep This Is Hell! completely listener supported and access bonus episodes by subscribing to our Patreon: www.patreon.com/thisishell

Transcript

Click on a timestamp to play from that location

0:00.0

I'm going to So, You're going to do. You're going to be here.

0:24.0

You're welcome to watch.

0:25.0

You're welcome to deal. Thank you.

0:33.0

You're welcome, Dale. This is hell. money is the root of all evil and capitalism is all about money so you do the math.

0:58.0

This is hell and talk about the evil of money incentivizing the desire of greed at all costs no matter who it harms

1:06.1

there's this thing you may have heard of called cryptocurrency that combines the promise of a

1:10.2

crypt an underground vault beneath a church for bearing the dead with currency, which, like

1:16.4

the Bible says, is the root of all evil, which contradicts the prosperity gospel of hucksters like Joel Ostein as it says in Timothy for the love of money is the root of all evil

1:29.4

Which while some coveted after they have aired from the faith and pierced themselves through

1:36.3

with many sorrows.

1:38.3

Not really sure what all of that means, but it's in the Bible.

1:41.9

And there's no real need to worry, right?

1:44.9

I mean, crypto's in our rearview mirror.

1:47.6

And if we believe the sage advice of our rear view mirror, objects in the mirror are closer

1:51.8

than they appear.

1:53.0

Maybe crypto is not as bad as it once was.

1:56.0

Now that it's finally reined in by regulators with a media that has finally turned its back

2:01.0

and what it made popular while turning its profiteers into celebrities.

2:07.0

Maybe the whole nightmare is over.

2:10.0

But what if it isn't? What if big money, I mean really, really big money, like huge money, has decided that it's time to get in on crypto while the market is teetering?

2:21.0

And what if that appearance by business writer Michael Lewis, author of The Big Short and

2:27.0

the highly problematic, The Blind Side on 60 Minutes last weekend, when he discussed his new book on Sam Bankman Freed of FTX fraud

...

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