New Federal Reserve research suggests reaction to Facebook’s Libra basket approach was overblown
Italian Banking Association pushing to test a digital euro
U.S. housing has worst month since 2010
Our main conversation:
Earlier this month, Messari hosted the Mainnet virtual summit. At that event, NLW moderated a session called “Macro Investors Sound Off!” featuring BlockTower Capital’s Ari Paul, Blockchain Capital’s Spencer Bogart and Arca’s David Nage.
The discussion included:
The evolution of the Fed put and how it shapes the markets
How the collision of Bitcoin’s halving and the Fed’s reaction to COVID-19 created a powerful narrative moment
Why the Money Printer Go BRR meme was so effective
Why the Paul Tudor Jones letter was hugely influential within Family Offices
Why these investors expect to see some significant announcements around bitcoin exposure from traditional investors in the months to come
An alarming weekend jump in coronavirus cases. John Bolton warns against a second term for President Trump. A noose is found in the garage of a black NASCAR driver. Correspondent Deborah Rodriguez has the CBS World News Roundup for Monday, June 22, 2020.
Leah and Melissa are joined by special guest Chase Strangio for a big recap episode of a big week. They cover some developments on the orders list and two major decisions (the Title VII decision and the DACA decision).
Get tickets for STRICT SCRUTINY LIVE – The Bad Decisions Tour 2025!
Cosmopolitan, overweight, multi-ethnic: the country’s makeup has made the pandemic more deadly. But the government has repeatedly played a bad hand badly. Native American communities are being hit hard, too, putting tribal customs and even languages at risk. And why China’s company seals hold such power—and potential for abuse.
We’re talking about the latest data showing where COVID-19 cases are spiking, Why the Trump administration is facing backlash for a recent firing, and we’ll recap the president’s Tulsa rally, including a surprise in a stands.
Plus, IMAX and Hulu are teaming up, why there’s a pocket change shortage, and how a rock star from the 90s broke a record 30 years later.
Will Ford and Matt Lockett, authors of “The Dream King: How the Dream of Martin Luther King, Jr. Is Being Fulfilled to Heal Racism in America,” met at a prayer meeting in 2005. Ford and Lockett spent 10 years developing a strong friendship and praying together for racial reconciliation. A decade into their friendship, Lockett made an incredible discovery about his ancestors, which sent the friends on a path of forgiveness and reconciliation with one another.
Ford and Lockett join The Daily Signal Podcast to share their story and discuss how America can move forward as a united country, remembering the past but choosing hope and healing instead of unforgiveness.
Also on today’s show, we share some good news about the work of Human Coalition. The pro-life organization has continued to save the lives of the most vulnerable during the coronavirus pandemic, increasing their capability to serve women.
The best Sundays are for long reads and deep conversations. Recently the hosts of the Let's Talk Bitcoin! Show gathered to discuss the big picture problems facing our world which make things like Bitcoin distinctly appealing despite many inefficiencies when compared to traditional, centralized systems.
On today's show we're going back to basics. While bitcoin and digital bearer assets in general are an incredibly important technology, the reason they're likely to be important to the future has little to do with the token and everything to do with the context surrounding them: The world we live in every day, where government controlled money is abused for the benefit of the few and to the detriment of the many.
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"Bitcoin is a way of achieving consensus. And consensus is a way for a bunch of people who may disagree on things to agree to a singular fact that they then execute, so imagine if Congress actually had bipartisan support to unilaterally pass a bill every ten minutes... That's basically what's occurring in Bitcoin.
There's nothing more political than money because money affects everything else, and yet Bitcoin works. I think there's a lot of people looking at trying to reform the governance structures of the places that they're in, what they really should be doing is looking at things like Bitcoin and frameworks using blockchains to say "OK, how can we come to consensus over this or that governance issue of which money would be one... But I think the most transformative and phenomenal thing it'll do is, Nakamoto Consensus and then just blockchain governance writ large is a phenomenal way to have self governance.
We see these breakdowns and these desires to federate cities and the way decisions are made, [but] maybe rather than turning to a government based political solution, a community based solution using something like a blockchain would be something with a lot greater staying power and impact." - Jonathan Mohan
Topics:
Who is the economy still working for, and who is it not serving?
What’s wrong with money that makes alternatives attractive?
Why and how is Bitcoin disconnected from the current system?
What’s the value in the US and western Europe compared to the value in less developed parts of the world?
What role does speculation play in the story of bitcoin?
Bitcoin’s been around now for more than ten years. Are we on track to make a difference? What’s the normal adoption curve for disruptive or revolutionary technologies?
What IS a disruptive or revolutionary technology? Who is bitcoin potentially disrupting?
Does being part of the bitcoin community make you politically affiliated, or represent a distinct political viewpoint?
Selected excerpts from this week's discussion:
"Money, because it's central to markets, which are central to the ways we organize societies is on of the most powerful technological tools that exists. If you then put the control of that technological tool in the hands of a monopolistic entity of any kind, whether that's facebook libra or the US dollar under the federal reserve or whatever else it is, what happens is that that tool can be used to exert power on the way society is governed and on the way resources are allocated in a non-transparent way that is not subject to political correction or adjustment by democratic means.
And when you take a tool that's that powerful and take it out of the oversight and control of democratic institutions, then it attracts the kinds of sociopaths who want to control that lever of power and they use it to distort the market in their favor. And that's the really dangerous aspect of money, because it's not simply neutral fuel for an economy or some forms of it are not neutral fuel for the economy. I've talked about this in the past as 'Money is a system of control in addition to its function of medium of exchange, unit of account, and store of value.
And when it can be used more effectively as a system of control, then it starts losing it's utility as a medium of exchange, a unit of account, and a store of value because it's power as a system of control is so intoxicating and so overpowering that it erases all other uses of it.
And that's exactly what we see. Centralized money is no longer offering useful signaling of value, no longe offering using unit of account measurement, it's not serving as a good store of value and increasingly not as an open, free, highly liquid medium of exchange because it's use as a system of control has overridden all those considerations." - Andreas M. Antonopoulos
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It seems like the past hundred years and the statements made publicly now and in perpetuity is that dollars will always go down and stocks will always go up. So there are fundamentally two types of Americans, those who have their life savings in dollars and those who have it in stocks. And the crazy thing with stocks, unless you're part of the racket every now and then they completely collapse. So even that's a rigged game.
What I like about Bitcoin is it's a way to be a part of neither game. I don't get to insider trade like a congressman, and I also don't have all of my life savings stolen from me because that 3% raise I get every year is completely wiped out by money manipulation. - Jonathan Mohan
* * *
"This entire experiment and civilization [was] founded on the idea that we have a ladder with rungs on it and a reset button. So you fall down the ladder, you hit the reset button and you can start climbing back up it. And every time the government massively overcorrects or disproportionately gives money out into the ecosystem, they're pulling out a rung from the ladder..." - Jonathan Mohan
* * *
"Capitalism without the risk of failure, isn't..." - Andreas M. Antonopoulos
* * *
"One of the most phenomenal things that America did was the idea of bankruptcy. This idea that you could fail and that your family wouldn't be debt slaves to try to repay it. This idea of a serial entrepreneur was kind of invented here because the economic concept of a reset button existed here, and what we're seeing is the death of the reset button and the way they're accomplishing that is by pulling up the rungs of the ladder. So it's a failure on two sides at the same time..." - Jonathan Mohan
Credits
This episode of Let's Talk Bitcoin features Stephanie Murphy, Andreas M. Antonopoulos, Adam B. Levine and Jonathan Mohan. Music provided by Jared Rubens and Gurty Beats, with editing by Jonas.
A multi arm trial testing a range of drugs has shown that readily available steroids can be lifesaving for people severely ill with Covid-19. Max Parmar, head of the UK Medical Research Council’s clinical trials unit says the trial design, where many potential drugs can be tested against the same controls, is key to producing results quickly.
As it spreads around the world SARS-CoV-2 is mutating. But what does this mean? These mutations are part of a natural process and some researchers are finding they make no real difference to patient outcomes so far, but others are concerned the virus may become more dangerous. Neville Sanjana from New York University has been running lab tests on the mutant virus.
Measles mutated from an animal virus, developing the ability to jump from cattle to human around 2,500 years ago. Sebastien Calvignac-Spencer from Germany’s Robert Koch Institute tracked its origins using preserved lung samples from centuries old measles victims.
Covid -19 has become a magnet for conspiracy theorists. A common unfounded claim is that the virus was deliberately manufactured. During the boredom of lockdown such ideas have taken off online, with conspiracy videos receiving millions of views. We speak to scientists who have been targeted, and become the subject of this online misinformation.
Also What exactly it means to be conscious has long been a question of profound debate amongst philosophers, and more recently, scientists. There are no easy answers, and it gets even trickier when you start asking whether animals are conscious: how can you find out about their subjective experience when they can’t tell you about it?
Never afraid to tackle the impossible, CrowdScience is looking for answers after listener Natalie got in touch. She has lived with her cat for years and has a strong sense that he has thoughts and feelings: he has his own personality, acts in complex ways, and even has ‘grumpy days’. But is this consciousness? Is there any way of scientifically testing for it? How different from our own inner world is that of a cat, an octopus, or a bumblebee? And if we can find any answers to these puzzling questions, how does that affect the way we treat animals - not just our pets, but all the animals we share our planet with?
We meet Natalie and her cat, and discover how scientists have explored the minds of pigs, cows and cuttlefish. Helping us ponder the elusive question of animal consciousness are philosopher Peter Godfrey-Smith, neuroscientist Anil Seth, animal welfare expert Donald Broom, ethicist Jessica Pierce, and comparative psychologist Alex Schnell.
Featuring David Seddon as the voice of Chicco the Cat.
(Image: Doctor examines Covid-19 virus patient. Credit: Getty Images)
This podcast series tells how Byzantium was central to the Crusades. It is based on the book "The Byzantine World War" by Nick Holmes. In this episode, we hear about the reign of the Emperor Michael VII Doukas, which must count as the most disastrous reign in the whole of Byzantine history. By the end, Anatolia has been overrun by the Turks, and Byzantium is facing enemies advancing against it from both East and West.
Please take a look at my website nickholmesauthor.com where you can download a free copy of The Byzantine World War, my book that describes the origins of the First Crusade.
