We would have had another episode of the podcast out sooner, but Junseth got taken out for a few weeks with Covid.
But finally, we’re back!
In the latest edition of the Blind Spot podcast we are joined by Frances Coppola, nocoiner extraordinaire and occasional director of epic films about the mafia. (Not really on the latter point, but we like to pretend).
We chat about the demise of crypto financial firms Three Arrows Capital and Voyager, but also turn to more profound points like how the Scottish pound operates a lot like a stablecoin system. There’s also a significant discussion about whether this time in crypto is a bit like 1907.
The last time Junseth and Frances paired up was on stage at FT Alphaville’s Vaudeville show in 2019, in a charming musical rendition of that song that Kermit the frog sings in the Muppets, but adapted for crypto audiences. Sadly, there’s no singing this time.
Once again the chat extended into nearly two hours, which is way more than most people can take. So to help audiences navigate the points of interest here are some conversation markers:
2:45 – the crypto collapse chronology
6:30 – Three Arrows
10:00 – Is it 1907 or 1996 in crypto
13:00 – How Sam-Bankman Fried is the new JP Morgan.
18:30 – Nothing new under the sun
21:00 – Crypto’s one utility is being a financial flight simulator
27:00– Michael Saylor’s mortgage your house to buy bitcoin advice
34:00 – Crypto’s Big Bang equivalent
38:00 – Old money vs New money
40:00 – Florida is the new financial centre of the world
45:00 – Voyager’s unwinding
50:00 – How FDIC insurance actually works
1:05:00 – Scottish freebanking
1:15:00 – GFC
1:23:00 – The cost of french chateaux
1:25:00 – House building norms
1:27:00 – Energy shortages
1:28:00 – MMT perspectives on resource constraints
1:35:00 – CBDC account money
1:37:00 – What are the options for Scotland
1:41:00 – The UK’s own renegade independence movements
1:47:00 – ABBA Avatars and the Metaverse
1:50:00 – Gulliver’s travels
1:52:00 – Why the metaverse is a modern opium den
Thank you to Horatio Gould for the editing and graphics.