MI266: Banks on the Run: Insights into the Banking Crisis & the Future of Banking w/ Joseph Wang
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 4 April 2023
⏱️ 56 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:02.5 | I think it's difficult to see a bankless future, and that's because banks play a very important |
| 0:08.3 | role in the economy by creating money. |
| 0:10.8 | I think what's more interesting about what's happening now is that if you are willing to |
| 0:16.3 | completely guarantee all deposits in a bank, I think the next step would be some kind of central bank |
| 0:22.0 | digital currency where instead of depositing money at a bank that's guaranteed, maybe you just |
| 0:27.5 | deposit money directly at the Federal Reserve. And that has tremendous implications because |
| 0:32.2 | that would make the government ultimately a major creator of money and they would decide |
| 0:37.4 | that who gets money |
| 0:38.3 | and who doesn't. And I'd also note that it seems like the banks that I've been going under |
| 0:43.1 | are those that have been strongly associated with crypto, like signature bank, like Silvergate, |
| 0:48.4 | and so forth. And, you know, I think that would send a strong signal to other banks |
| 0:52.1 | to probably not sponsor these activities. |
| 1:04.1 | On today's episode, I bring on Joseph Wang, who is the chief investment officer at Monetary Macro, |
| 1:10.4 | and previously he was a senior trader for the Federal Reserve. During this episode, Joseph breaks down the crisis the banking sector is |
| 1:12.7 | currently facing with the failure of Silicon Valley Bank, Signature Bank, and then Credit |
| 1:17.4 | Swiss. He talks about how this happened, what this means for investors and depositors in these |
| 1:22.8 | banks, and is this contagion likely to spread to other banks and institutions? |
| 1:28.5 | He also shares his key takeaways from the recent Fed meeting, including the measures that |
| 1:33.6 | were put in place to save the banking sector and what these new policies could mean for |
| 1:38.4 | the bank's future profitability. We also dive into a deeper topic about what the future of banking could look like. |
| 1:45.9 | I asked him if we could see a world where there's a bankless future and the role decentralized |
... |
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