The Money Game, Cheaters Edition
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“We use the word cartel to describe drug cartels and oil cartels. We almost never hear the word cartel in association with banking… that, in itself, should tell you something, if you want to know who has power over you.”
SHOW DESCRIPTION
The coronavirus has thrown us into truly unprecedented times. Most countries have enforced a lockdown, and global travel has ground to a halt, and this, in turn, has had an enormous impact on the economy.
Stock markets all over the world experienced huge volatility. Wall Street suffered its worst day since ‘Black Monday’, oil prices went negative for the first time in history and governments all over the world have been implementing extreme fiscal and monetary policies.
Many analysts have suggested that rather than coronavirus being the cause of this economic downturn, instead, it was merely the pin that popped the bubble and the enormous debts that have been amounting since long before the 2008 global financial crisis was a disaster waiting to happen.
So, how do we get out of this mess? Who stands to benefit from government money printing? Who has to pay this money back? And, why the fuck is Steve Mnuchin, the Secretary of the Treasury?
To answer these questions and more, I am joined by leading finance experts: Andrea Ferrero, Andreas M. Antonopoulos, Caitlin Long, Ben Hunt & Raoul Pal. We look at the corruption and mismanagement of the economy by central banks and governments.
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TIMESTAMPS
Coming soon…
SHOW NOTES
Connect with the guests:
Andrea Ferrero on LinkedIn
Andreas M. Antonopoulos on Twitter
Ben Hunt on Twitter
Caitlin Long on Twitter
Raoul Pal on Twitter
Travis Kling on Twitter
Mentioned in the show:
Economist: The origins of the financial crisis - Crash course | Schools brief
The New Yorker: The Real Cost of the 2008 Financial Crisis
IMDB: The Big Short (2015)
The Guardian: How coronavirus almost brought down the global financial system
BBC: Coronavirus: Financial crisis 'on steroids' looms for EU leaders
BBC: Coronavirus: Worst economic crisis since 1930s depression, IMF says
Market Watch: Fool me twice? For businesses and consumers, coronavirus is the financial crisis all over again
The Balance: Bretton Woods System and Agreement
Investopedia: What is the Gold Standard?
Mental Floss: Why Did the U.S. Abandon the Gold Standard?
The Guardian: US Senate passes historic $2tn relief package as coronavirus devastates economy
The Financial Times: How major economies are trying to mitigate the coronavirus shock
Economy & Markets: Central Banks: The Root of All Economic Evil - Economy and Markets
The New York Times: Monopoly’s Inventor: The Progressive Who Didn’t Pass ‘Go’
The Guardian: The secret history of Monopoly: the capitalist board game’s leftwing origins
ABC: Steve Mnuchin's Controversial History With the Foreclosure Crisis
Business Insider: Treasury Secretary Mnuchin is angry about an unflattering nickname he wholeheartedly deserves
Housing Wire: Trump picks former Goldman Sachs exec, OneWest chairman Steve Mnuchin to lead Treasury
FNN: Elizabeth Warren GOES OFF on Steven Mnuchin, Treasury Secretary Nominee
Senate Democrats Host Forum with Mnuchin Bank OneWest Foreclosure Victims
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