4.8 • 670 Ratings
🗓️ 9 October 2024
⏱️ 58 minutes
🧾️ Download transcript
Our guest on this episode is Richard Holden, economics professor at the University of New South Wales Sydney author of a new book: Money in the 21st Century: Cheap, Mobile and Digital. Richard explains why the prospect of a private digital currency run by a company like Amazon or Google is a real possibility and why that would represent an enormous transfer of power from democratic governments to a private company. He also talks about China’s digital currency, its vast user base in China and how it even has users in Australia. Richard believes the US should proactively head off the threat from these digital competitors by creating ‘fedcoin’ - a digital currency managed by the Federal Reserve. He believes it could be done with little disruption to consumers and could bring enormous benefits.
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Episode TimeStamps:
02:04 - Introduction to Richard Holden
06:06 - A whole year without cash
08:08 - What are the benefits of cash?
12:40 - The implications of a cashless society
23:53 - A big hurdle
26:04 - Building a better mouse trap
28:08...
Click on a timestamp to play from that location
0:00.0 | I think that's just one of the sort of timeless facts about superior technology, and I mean technology in a very broad sense. |
0:13.4 | It doesn't have to be digital or whatever, which is, you know, if you build a better mouse trap and the voters like the better mouse trap and some |
0:21.0 | politician says, I want to take away the mouse trap, it ain't happening. And I think the same thing |
0:26.2 | can play out with digital currencies. Imagine spending an hour with the world's greatest traders. |
0:33.7 | Imagine learning from their experiences, their successes, and their failures. |
0:38.2 | Imagine no more. |
0:40.1 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world |
0:46.0 | so you can take your manager due diligence or investment career to the next level. |
0:50.9 | Before we begin today's conversation, remember to keep two things in mind. All the discussion |
0:55.6 | we'll have about investment performance is about the past, and past performance does not guarantee |
1:00.4 | or even infer anything about future performance. Also understand that there's a significant risk |
1:05.6 | of financial loss with all investment strategies, and you need to request and understand |
1:10.2 | the specific risks from |
1:11.5 | the investment manager about their product before you make investment decisions. |
1:15.7 | Here's your host, veteran hedge fund manager, Niels Kostrup Larson. |
1:24.9 | For me, the best part of my podcasting journey has been the opportunity to speak to a huge range of extraordinary people from all around the world. |
1:33.3 | In this series, I have invited one of them, namely Kevin Koldine to host a series of in-depth conversations |
1:39.1 | to help uncover and explain new ideas to make you a better investor. |
1:45.9 | In the series, Kevin will be speaking to authors of new books and research papers to better understand the global economy |
1:50.7 | and the dynamics that shape it so that we can all successfully navigate the challenges within it. |
1:56.6 | And with that, please welcome Kevin Coldiron. |
2:02.4 | Okay, thanks, Neals, and welcome everyone. |
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