Jim Bianco on the Health of the Global Financial System
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 29 March 2023
⏱️ 72 minutes
🧾️ Download transcript
Summary
Jim Bianco is the Head of Bianco Research and owner of BiancoResearch.ETH, Jim is our go-to source of macro analysis from someone who also knows crypto.
Jim was early and loud about the initial Fed pivot into rising interest rates, all the way back in March of 2022, before much of the crypto industry really understood how significant interest rates can be.
Now, we’re having Jim back on for his 4th time to help us navigate this next wave of macro chaos.
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Timestamps:
0:00 Intro
8:10 Balaji's Bet
10:48 Arthur Hayes & Ben Hunt
14:30 The Fed's Balance Sheet Chart
18:00 Deposits in Banks Chart
27:20 BTFP
36:09 Raising Rates & Insolvency
38:35 The Long Tail of Banks
47:09 Treasury Returns?!
54:45 Uncertainty & Bond Market
58:20 Phase Change
1:02:24 Signs of Health
1:06:55 What is Jim Doing?
1:10:40 Closing & Disclaimers
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Resources:
Jim Bianco
https://twitter.com/biancoresearch
https://twitter.com/biancoresearch/status/1638995201770536961
https://twitter.com/biancoresearch/status/1639004727001358339
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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Transcript
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| 0:00.0 | I'm going to talk about what's going on with the banks. |
| 0:08.1 | David, this has been a running series for us ever since, biology, put up the bit signal |
| 0:15.1 | and started a conversation around the banks' insolvency, the dollar hyperinflating, |
| 0:22.4 | Bitcoin going to a million dollars within a 90 day period of time. |
| 0:27.0 | Of course, this is on the back of a few bank runs that we've had in the United States, Silver |
| 0:32.2 | Gate Bank, led the charge, then Silicon Valley Bank, led into Signature, all sorts of intervention |
| 0:39.1 | going on with FDIC and US government, and we're trying to figure out what's going on, |
| 0:45.0 | what is actually happening. |
| 0:45.8 | What is the truth? |
| 0:47.8 | So we have Jim Bianco here today, and I think this is maybe the fourth in a series of episodes. |
| 0:53.0 | Our first episode with Bellagy, where we actually talked about his thesis for bank insolvency |
| 0:59.1 | in the United States, and it was a very bleak, pessimistic outlook, but he brought lots |
| 1:05.6 | of evidence. |
| 1:06.6 | Then we had a conversation with Arthur Hayes, who took kind of a trader's perspective. |
| 1:10.4 | He also sided with biology and his thesis, except he thought it would happen over a longer |
| 1:18.6 | time frame. |
| 1:19.6 | So rather than 90 days to a million, maybe Bitcoin takes like two, three, four years to get |
| 1:25.1 | there. |
| 1:26.1 | Then we had Ben Hunt on the podcast, who gave the complete opposite take, rejecting both |
| 1:31.4 | of those takes with the counterpoint. |
| 1:34.1 | And now here we are with Jim Bianco today. |
| 1:36.5 | Jim is somebody who, I think you and I both respect quite a bit because he's got one |
... |
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