This week’s “Money Reimagined” episode is framed by some explosive news developments that are adding further fuel to a fire of distrust in authority that has been allowed to ignite into a rabid threat to global financial institutions.
This episode is sponsored by Quantstamp.
Hosts Sheila warren and Michael Casey they are joined by the Wall Street Journal reporter Michael S. Derby and cryptocurrency entrepreneur Maya zhehavi to discuss two sets of disclosures that go to the heart of these issues and what they mean for the crypto industry.
One is the Pandora Papers The research, the results of which were released last week and which opened the lid on an elaborate global system of obfuscation whereby a very long list of rich and powerful political leaders, businessmen and celebrities have evaded trillions of dollars in taxes and avoided the scrutiny of your questionable business activities.
The other revolves around some revelations about stock trading activity by Federal Reserve officials, which led to the resignation of the heads of two regional banks from the Fed and has put President Jerome Powell’s appointment prospects are in jeopardy.
The show dives into what has happened and what this means for confidence in the financial system and its managers. How much does it matter that people feel that the system is not designed for them, but for the elites? Will these feed off faith in money itself? And, if so, what’s next? Is it bitcoin? Stablecoins? Competing central bank digital currencies?
With a seasoned Fed reporter in the mix of guests, the conversation inevitably dives into the prospects of a digital dollar and the goals it would serve as well.
This episode was produced and edited by Michele Musso with advertisements by Adam B. Levine. Our theme song is Shepard.