CoinDesk Podcast Network

A wide-ranging conversation about the state of macro, why central banks can’t really do anything and why private markets are leading the future of money.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Raoul Pal is CEO and co-founder of Real Vision, a platform fundamentally disrupting macroeconomics and financial media. 

In this wide-ranging conversation, he and NLW discuss: 

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Governments have significant discretion over economics and finance today, but decentralized network-driven alternatives threaten that control. 

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

Our main discussion: The battle for the soul of finance. 

In this episode, NLW looks at the power competition between governments on the one hand and the decentralized network-driven finance alternatives that would reshape that power. Interestingly, in this competition corporations may play a role that benefits both sides at different times and in different ways.

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The percentage of companies that can’t afford to pay the interest on their debt has reached a new all-time high in the wake of central bank intervention.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

Our main discussion: The rise of zombie firms. 

A zombie firm is a company that can’t afford to service its debt from operating income. These companies are made possible by artificially low interest rates, and they drain resources from the economy. 

On today’s episode, NLW explains:

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As Oracle wins a bid for TikTok U.S., a look at how tech competition, culture competition and currency competition shape the business of geopolitics.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

Our main discussion: NLW looks at the business of geopolitical competition, including:

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A reading of “How to Diagnose Your Own Dutch Disease,” a look at the problems of America’s dollar trade.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

On this week’s Long Reads Sunday, NLW looks at recent statistics suggesting that, based on a comprehensive set of measures of well-being, U.S. citizens are worse off than they were a decade ago. 

One potential explanation is the U.S.’ “USD Dutch Disease” - a peculiar set of consequences resulting from the role of the U.S. dollar in the world. 

This week’s reading is “How to Diagnose Your Own Dutch Disease” from the Financial Times.

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Recapping the biggest stories of the week, including Joe Biden’s China plan, a market holding pattern and, of course, the strange competitive saga of SUSHI.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

On this edition of the Breakdown Weekly Recap, NLW looks at:

This week on The Breakdown:

Monday | Sorry, Governments, We’re Entering the Era of Private Money

Tuesday | Why Bitcoin Investors Aren’t Worried About This Price Pullback

Wednesday | ‘Absolute Raging Mania’: Famed Investor Druckenmiller Thinks 10% Inflation Is Possible

Thursday | How Monetary Policy Undermined American Resilience

Friday | ‘As Toppy as It Gets’: Metals, Bitcoin and Fiat’s Race to the Bottom, Feat. Tavi Costa

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With Ethereum 2.0's much anticipated move to Proof-of-Stake getting closer, CoinDesk Research Analyst Christine Kim spoke with Ben Edgington and Vijay Michalik on what would-be validators need to know.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

“There are indeed responsibilities that come with [Ethereum 2.0 staking]. You can’t just stake and leave it. You need to run what we call a client or a validator software.”

That’s Ben Edgington, the product owner of Teku at ethereum venture capital studio Consensys. Teku is one of five software clients currently being battle-tested on the official Ethereum 2.0 test network, Medalla. 

These clients will connect users to the highly anticipated proof-of-stake blockchain aimed at significantly boosting Ethereum transaction speeds and throughput. Ethereum 2.0 clients like Teku will also enable users to earn rewards as validators on the new network.  

See also: Ethereum 2.0: How It Works and Why It Matters

Similar to the role of miners on the current Ethereum blockchain, validators on Ethereum 2.0 will be responsible for processing transactions and creating new blocks. What that looks like in practice, according to Edgington, is keeping client software up and running 24/7 on a dedicated computer device. 

As for which of the five clients to run, Vijay Michalik, a strategist for the engineering team behind Teku, explained the technical differences between them all were minor. However, their main distinction between clients in the eyes of Michalik comes down to long-term development vision. 

“For Status [the Ethereum messaging company], the Nimbus client is focused on trying to build a client for a low-footprint system. So they’re building for embedded systems such as mobile devices and potential IoT [Internet of Things] in the future,” said Michalik. “At the ConsenSys protocol engineering, we’re trying to lean into our specialization which is building the enterprise grade [Ethereum 2.0 client].”

See also: Ethereum 2.0: Closer Than Ever Still Plenty of Work to Do

For more information about Ethereum 2.0, you can download the free research report featuring additional developer commentary about the upgrade on the CoinDesk Research Hub.

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The Crescat Capital portfolio manager gives his take on the flashing macro warning signals and why it is an explosive moment for gold, silver and (potentially) bitcoin. 

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Tavi Costa is a portfolio manager at Crescat Capital. In this conversation with NLW, he discusses:

Find our guest online:

Twitter: @TaviCosta

Instagram: @TaviCostaMacro

Website: https://www.crescat.net

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A legacy of artificially low interest rates is not just the death of savings, but a forced buying into the perpetual growth machine of financial asset prices.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

Our main discussion: interest rates and the undermining of American resilience. 

In this discussion, NLW looks at a number of artifacts of the low interest rate world, including:

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The Hedge Fund legend says in a new interview the Federal Reserve’s policies have created a massive asset bubble while making both inflation and deflation more likely.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

Our main discussion: Stan Druckenmiller speaks!

NLW breaks down the famed investor’s interview with CNBC today, including: 

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