Caitlin Long is the Founder and CEO of Custodia bank. In this interview, we discuss the events that have led to three banking failures within a week, one of which saw the biggest bank run on record. We talk about anti-crypto coordination involving the US government, the inherent instability of the traditional finance system and how this is another signal that the game is up. 

- - - - 

As the saying goes, to lose one bank may be regarded as a misfortune, to lose two banks looks like carelessness. How should we regard the loss of three banks within a week? To the uninitiated, this may look like a contagion, but it’s the impacts of two different systemic problems affecting two different markets: crypto and fiat. What it lays bare is the hypocrisy and instability of the traditional financial system.

The failures of Silvergate and Signature are rooted in the 2022 implosion in crypto. Precipitated by the collapse of Luna, we all know what followed: a nest of over-leveraged, hypothecated and fraudulent investments that fell like a house of cards. Who knows when it will end. Regardless, more recent failures seem to have been expedited by coordinated government action. 

The obvious signal from the levers of power is that crypto is bad, and traditional finance is good. But what should have been an opportunity for the government to present the perceived weaknesses within digital asset markets, was significantly undercut by the biggest bank run in history: Silicon Valley Bank’s customers were withdrawing more than $1 million per second for 10 hours straight a little over a week ago.

The sorry mess is actually a clear vindication of Bitcoiners' assertions that both crypto and fiat are both fundamentally unstable. The search for yield is endemic. The management of risk is too often criminally deficient. The argument is that narrow banking (full reserve banking) will suck deposits from risky banks, making risky banks even riskier, increasing systemic risk. 

However, the system is becoming increasingly dysfunctional. Moral hazard seems endemic. Increasingly large bailouts are being used to keep the game going. The aim is to maintain the illusion that the financial system is stable. It is anything but, and everyone knows it. We’re entering a period on unknown risks. The time to change the rules of the game has long passed.

Bank Runs, Bailouts & Bitcoin with Caitlin Long

Ian Birrell is a renowned British journalist, columnist, and foreign correspondent, known for his work on global conflicts, social justice, and political reform.

In this episode, we discuss the failures of the prison system, whether it's true purpose is punishment or rehabilitation, and how countries like Norway and Texas are tackling recidivism with innovative approaches. We also get into Bitcoin’s role in empowering activists, the impact of social media on political tribalism, and Elon Musk’s controversial approach to free speech as well as the rise of political extremism, the decline of critical thinking, and the challenges of addressing the war on drugs and reforming criminal justice systems.

Ian Birrell on Prison Reform, Global Conflicts, Free Speech & Nostr - MOB009

Ben Arc is an open-source developer and an advocate in the Bitcoin and Nostr ecosystems.

In this episode, we discuss the shift from centralized platforms like Twitter to decentralized systems, discussing how Nostr allows users to control their data and build communities without corporate interference. We get into Bitcoin’s evolution, synthesizing libertarian and socialist ideologies, the future of soft currencies, and the role of CBDCs in global economies. We also talk about the cultural significance of local currencies like the Welsh pound, the importance of free speech in a digital age, and how AI is transforming both daily life and the future of podcasting.

Decentralising Freedom: Bitcoin, Nostr and Artificial Intelligence with Ben Arc - MOB010

Izabella is the Senior Finance Editor at Politico and the founder editor of The Blind Spot. 

In this episode, we discuss the rapid advancement of AI, including how tools like ChatGPT are transforming journalism, the ethics of AI, its role in uncovering hidden information, and whether full transparency will lead to societal improvements or chaos. We also discuss economic stagnation, the collapse of the middle class, and the impact of inflation on daily life. We also get into the over-regulation in Europe, how it’s falling behind in technological innovation, and the parallels between modern challenges and historical examples of power structures and corruption.

The AI Takeover: Media, Money, and the New World Order with Izabella Kaminska - MOB011

David Zell is the Executive Director of the Bitcoin Policy Institute, a think tank focused on the public policy implications of Bitcoin.

In this episode, we discuss the political landscape surrounding Bitcoin, its role as an insurance policy for both individuals and nation-states, how Bitcoin competes against traditional currencies, the global demand for stable money, and its implications for U.S. geopolitical strategy, especially in contrast to authoritarian regimes like China. We also discuss the politicisation of Bitcoin, potential regulatory threats, and how Bitcoin's existence challenges traditional financial systems.

The Separation of Money and State with David Zell - MOB012

Winston Marshall is a musician, cultural commentator, and former member of the band Mumford & Sons. 

In this episode, we discuss his journey from rock star to cultural commentator, the challenges of holding conservative opinions in the entertainment industry, and his exit from Mumford & Sons. We also get into the failures of corporate media, the rise of alternative media through podcasts, and the impact of political realignment in the U.S. and the UK. We also cover the ongoing struggle for free speech, the role of populism, and the future of liberty in a world increasingly dominated by censorship and ideological conformity.

Winston Marshall on Free Speech, Censorship, Cancel Culture and UK Politics - MOB013

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and a leading advocate for Bitcoin's role in promoting freedom.
In this episode, we discuss his work empowering activists under authoritarian regimes, the structural issues facing human rights funding, and how technology like Bitcoin are transforming the fight for liberty. We also get into the impact of peer-to-peer networks like Nostr, the evolution of Ecash, and the digital arms race between oppressive governments and freedom technologies. We cover forgotten global conflicts, the role of Western democracies, and how Bitcoin helps people survive hyperinflation and financial oppression.

Technology Powered Freedom with Alex Gladstein - MOB014

Mike Brock is a political commentator, writer, and former executive.

In this episode, we explore the dynamics of power politics versus distributive politics, the transformation of the Republican Party under Trump, and the struggle to uphold liberal values in a rapidly changing political climate. We dive into the role of economic incentives in shaping political actions, examine government corruption, and analyze the escalating U.S.-China economic rivalry. Additionally, we discuss how media influences public perception and why Mike sees the centre-left as perhaps the last hope for sustaining capitalism.

Trump vs Kamala with Mike Brock - MOB016

Peter St Onge is an Economist at the Heritage Foundation and a Fellow at the Mises Institute.

In this episode, we discuss the challenges posed by government overreach, and the intricacies of the bureaucracy-politician dynamic. We get into how historical developments have influenced current political structures and the role of debt and its impact on economic growth. Peter also shares his thoughts on the possibility of reforming the current system, from central banking to taxation, and the path to a more efficient government.

Peter St Onge: Liberty, Central Banks, Sound Money & Free Speech - MOB017

Joseph Robertson is a political commentator and advocate focused on free-market economics and personal sovereignty.

In this episode, we discuss the shifting political landscape in the UK, examining the impact of recent budgets on various social classes and the ideological shift from conservatism to socialism. Joseph and I explore the role of debt, inflation, and economic illiteracy among voters in shaping current policies, as well as the influence of career politicians who lack real-world experience. We also discuss the potential for Bitcoin as a hedge against financial overreach and the implications of regulation on self-sovereignty.

Joseph Robertson: Debt, Inflation, Culture, Cost of Living & Regulations - MOB018

Dr. Tarik Sammour is a colorectal surgeon specialising in advanced bowel cancer and has worked across various healthcare systems, including in Australia, New Zealand, and the US.

In this episode, we explore the complexities of modern healthcare systems and the impact of healthcare inflation on patient outcomes and accessibility. We get into the differences between public and private healthcare models, discussing the benefits and drawbacks of hybrid systems and the unique challenges of funding healthcare sustainably. Tarik shares his experiences with administrative burdens, rising costs, and the ethical dilemmas posed by pharmaceutical influence. We also discuss the broader societal issues, from obesity trends to the role of sound money, and the potential for a more balanced approach to healthcare.

Tarik Sammour: Healthcare, Big Pharma, Inflation & Outcomes - MOB019

The media lies, governments mismanage, and our financial systems are failing us. In Mr Obnoxious, Peter McCormack explores the new frontier of tech, money and governance.

Bank Runs, Bailouts & Bitcoin with Caitlin Long

Mr Obnoxious

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