The U.S. Banking System, Federal Reserve, & USDC Post-SVB Collapse with Ram Ahluwalia
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 15 March 2023
⏱️ 83 minutes
🧾️ Download transcript
Summary
Ram Ahluwalia, CEO of Lumida Wealth Management, joins us to discuss everything that's happened in the past five days post-SVB collapse. Ram has his finger on the pulse on all things finance (crypto included), the U.S. Banking System, and The Federal Reserve.
Was USDC ever at risk? Is crypto being targeted? Could DeFi have fixed this? Answers to these questions and much more in the episode.
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Timestamps:
0:00 Intro
7:48 The Last 5 Days
10:30 Technology
15:35 Fractional Reserves & Assets
19:17 Banking & Venture
21:44 SIVB Outlier
27:35 Risk Curves
29:35 Carry Trades
35:05 Money Markets
38:15 Who's Next?
40:55 Feds' Goal
47:15 Sneak Attack on Tax Payers?
49:30 Longtail Banks
57:39 Was USDC Ever at Risk?
1:03:10 SigNet
1:07:15 Is Crypto Being Targeted?
1:12:18 Interest Rates
1:18:35 Could DeFi Fix This?
1:22:24 Closing & Disclaimers
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Resources:
Ram Ahluwalia
https://twitter.com/ramahluwalia
SVB is not like other banks
https://twitter.com/ramahluwalia/status/1635464465142480896
Why was Signature Bank targeted?
https://twitter.com/ramahluwalia/status/1635267951610810370?s=20
“Settlement Risk”
https://twitter.com/ramahluwalia/status/1635113232909373441?s=20
Conclusion
https://twitter.com/ramahluwalia/status/1634203375880265730?s=20
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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.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
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| 0:00.0 | We have a special state of the nation for you today, gotta talk about the banking crisis |
| 0:10.6 | that happened last weekend. |
| 0:12.6 | I think, David, this week we're in a whole new world, a lot has changed. |
| 0:17.6 | We want to dissect what happened and what's changed, what this means moving forward. |
| 0:23.3 | And we brought on an adult in the room, someone that understands the financial system and |
| 0:27.8 | the banking system much better than you and I do, or maybe then we ever will and also |
| 0:33.5 | understands crypto. |
| 0:34.5 | What are we getting into today, David? |
| 0:36.6 | The really the big question is, are we in a new market? |
| 0:41.6 | Did something change fundamentally? |
| 0:45.1 | This throws me back all the way back into I think January of 2022, where I remember Jim |
| 0:50.2 | Bianco tweeting out that we have entered a new paradigm and that was the rising interest |
| 0:55.1 | rates of the Federal Reserve. |
| 0:56.6 | And I didn't really understand the significance of that phase change of markets yet Jim Bianco |
| 1:01.6 | called it like a nail on the head all the way back then and so now I'm wondering and |
| 1:06.0 | now I think the market is wondering is, are we entering a new type of phase change in |
| 1:11.3 | the market? |
| 1:12.6 | Bank stocks were down across the board yesterday, crypto started responding in like a logical |
| 1:18.2 | fashion, which is like even those logical still new and different. |
| 1:22.6 | And so I think this is the big question that we really want to really ask is, what has |
| 1:28.3 | changed? |
| 1:29.9 | Is there a structural difference in the world of investing these days? |
... |
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