Thursday, December 15, 2022
The Briefing with Albert Mohler
The Southern Baptist Theological Seminary
4.8 • 8.4K Ratings
🗓️ 15 December 2022
⏱️ ? minutes
🧾️ Download transcript
Summary
Part I (00:13 - 10:38)
‘Old Fashioned Embezzlement With New Blockchain Jargon’: Sam Bankman-Fried Arrested for Fraud
- Prosecutors Say FTX Was Engaged in a ‘Massive, Yearslong Fraud’ by New York Times (David Yaffe-Bellany, Matthew Goldstein and Emily Flitter)
- Sam Bankman-Fried’s Crypto Crash by Wall Street Journal (The Editorial Board)
Part II (10:38 - 14:12)
Value Must Be Based in Something Real: The Issue of Crypto Currency
Part III (14:12 - 19:56)
An Ivy League Family, Big Donations to Progressive Causes, and a Silicon Valley Rejection of Power Attire: The Backstory of Sam Bankman-Fried
Part IV (19:56 - 29:56)
Famous and Infamous, Controversial and Political: Anthony Fauci Retires as 5th Director of NIAID
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Transcript
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| 0:00.0 | It's Thursday, December 15, 2022. |
| 0:07.7 | I'm Albert Moller, and this is The Briefing, a daily analysis of news and events from |
| 0:12.0 | a Christian worldview. |
| 0:13.7 | You go to a museum of ancient history and you are likely to find exhibitions of coins. |
| 0:19.1 | Those coins, even from very early civilizations, are intended to function as a currency. |
| 0:25.3 | And as you look at the history of humanity, somewhere where you find civilization, you will |
| 0:30.1 | find some mechanism of financial and economic exchange. |
| 0:34.7 | It might be a series of rocks, or it might be, well, in most recent days in the United States |
| 0:41.3 | and elsewhere, what has been called cryptocurrency. |
| 0:44.0 | The big question is not whether it's crypto, but whether it's actually currency. |
| 0:48.2 | And that is the issue that exploded in the headlines with the arrest on Monday in the |
| 0:52.0 | Bahamas of Sam Bankman-Freed, a 30-year-old who was considered to be one of the kings of |
| 0:57.6 | cryptocurrency, having built a multi-billion-dollar cryptocurrency empire. |
| 1:03.5 | But the issues that have exploded into the headlines have to do for example the bankruptcy, |
| 1:07.8 | declared by FTX, which had been one of the biggest cryptocurrency exchanges, and frankly |
| 1:12.8 | having been established by Sam Bankman-Freed, considered to be the 30-year-old Vunderkind, |
| 1:18.2 | or the wondered child, cryptocurrency, and by the way, it was a multi-billion-dollar operation, |
| 1:24.9 | but it's about eight billion-dollar short right now, about eight billion dollars of supposed |
| 1:29.2 | value has simply disappeared. |
| 1:32.1 | That's why you have the arrest of Sam Bankman-Freed, there in the Bahamas of Monday Night, that's |
| 1:36.6 | why federal agencies and federal law enforcement entities, including the US Attorney for the |
| 1:41.9 | Southern District of New York, they are lining up to bring charges against this 30-year-old. |
... |
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