The third installment of our review of economist John Kay's book 'Other People's Money', Chapter 3: "Intermediation".  We discuss roles and examples of intermediaries, as well as talk about liquidity, diversification, and leverage.  The conversation again touches upon Bitcoin and the need for decentralization.  We even explore the dark idea of artificial intelligence becoming the ultimate bad intermediary.  On a lighter note, Al has a nifty epistemological notion built on birds.  Tell us what you think!   

'Other People's Money' #1: (open.spotify.com/episode/32YYi2Tbi1L978hc308BJu?si=KQVOTwCVTNqfIUY-2RFpTA&utm_source=native-share-menu).  

'Other People's Money' #2: (open.spotify.com/episode/3oIOTJQqu7MqWitspoJixR?si=PvXZzOl9SyO-bb9YKYxF8Q&utm_source=copy-link).  

Website: (EntitledOpinion.com).    

Email: ([email protected]).  

Landon Fox music: (soundcloud.com/arbatos).  

MJ Dorian and 'Creative Codex': (mjdorian.com).  

Wikipedia, 'Fractional Reserve Banking': (wikipedia.org/wiki/Fractional-reserve_banking).  

Federal Reserve, 'Reserve Requirements': (federalreserve.gov/monetarypolicy/reservereq.htm).  

Federal Reserve Economic Data, M1 Money Supply graph: (fred.stlouisfed.org/series/M1SL).  

Investopedia, 'Index Fund vs. ETF': (investopedia.com/ask/answers/033015/whats-difference-between-index-fund-and-etf.asp).