Manage episode 372906599 series 50378
Today, Jason touches briefly on the housing inventory market. In this day and age, the government essentially have made building entry-level homes illegal, given the rules and regulations coupled with supply chain and labor issues!
Watch more content from Jason on his YouTube Channel today!
Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand.
Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. His conversation with Jason aims to educate and demystify. He explains how money is created, how the global dollar system is structured, and how it all fits into the broader financial system.
But to have a broader feel of his experience as a FED trader, make sure to get his book, Central Banking 101 today.
2:03 Housing inventory shortage
6:11 “It’s an amazing time to be alive!”
7:39 A tectonic shift- find out more at the Empowered Investor LIVE event
Joseph Wang interview
9:12 Welcome back Joseph; is the Fed the biggest investor?
10:14 The FED is not trying to make money; it influences economic conditions
11:27 A little peek behind the “Desk”
13:59 Acting as the eyes and ears of the Fed and having a relationship with big banks
15:16 What don’t we know? accessing and interpreting private data
17:37 The REPO market
19:59 The implications on the REPO market in crisis
22:41 Types of money, money creators and the shadow banks
24:28 Quantitative easing; money printing versus hyperinflation
26:08 Creating loans, creating money
27:28 MMT- correct in theory; dishonest in implementation
30:07 An awesome economic ecosystem
32:33 Before the Reagan Tax Act
33:30 The Fed, commercial banks and the Treasury- how they work together
Central Banking 101 by Joseph Wang
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