00:00 - Intro 00:50 - Revisiting Chris's 2021 prediction about bonds and inflation 02:34 - What is the Federal Reserve? 04:21 - What has happened to the US economy since COVID? 06:20 - The monetary base 07:12 - Three ways the Government can throw money around 09:02 - Interest rates and inflation 10:35 - The Fed has grown massively 12:03 - How the F…

00:32 - Elon Musk, like very few people in the world, has the personal capital to buy Twitter, a publicly-traded company, and take it private. He filed a Schedule 13D with the SEC and made moves. 04:10 - Musk bought 9.2% of the company and the board had to recognize him as the largest shareholder, and they offered him a seat on the board. Musk decl…

00:23 - Our guest, Kimberly Spencer, is joining us from Australia 01:48 - Kimberly's background 07:13 - Chris gives an example of investment bankers taking advantage of companies and treasuries, and yet everyone (including the companies) were rewarded for it. 14:08 - Kimberly elaborates on her concept of "different levels, same devils". 17:34 - Mon…

00:45 - Today we're going to discuss corporatism vs. capitalism. 05:04 - Small businesses operate in a free market. That's real capitalism. But large corporations often do not, because they can bend rules and policy in their favor. 09:00 - 20% of the US economy no longer has a free market. It's healthcare. 14:02 - It used to be the majority of doct…

00:54 - We're going to dissect a NYT article: "Buy stocks to prosper - buy bonds to sleep at night." 04:16 - Instead of taking a loan from a bank, when you buy a bond, YOU are the lender to the government, or a corporation, or locality. A bond is a guarantee to get your money back plus an agreed-upon interest rate (usually a low interest rate). 10:…

01:00 - A major foreign bank, TransPac, was dealing in bonds with smaller Asian countries, and they did not have enough cash to honor the debts if they were going to be called. 03:49 - The moment you mismatch your assets and liabilities, you are taking a risk. 05:23 - TransPac was buying bonds in smaller countries–in those smaller currencies–but th…

01:12 - Inflation is the sickness of money. Money is worth less over time, because there's more of it in the marketplace. 05:12 - World War 1 was funded by taxation, borrowing (war bonds), and the printing of new money. 09:12 - Money is no longer stable in the economy, and has not been since the creation of fiat currency. Fiat meaning the currency …

02:40 - Welcome to the show, Justin Simpson 04:34 - Retail investors may be exposed to an underwriting by buying shares through a broker. But most people get a piece of equities through funds... instead of putting money into shares, put money into a vehicle (fund), which owns a lot of various shares. 07:01 - What other types of funds are out there?…

00:56 - The underwriting process is one of the core functions of an investment bank. 02:22 - Example of the Joe Rogan podcast, which sold to Spotify for about $100M 07:14 - Capital markets are like an ocean of money. They are renewed, just like the water cycle. Underwriting process is like the rain that falls in the mountains, trickles down into ri…

00:25 - What does a traditional banker do? 02:13 - What does an investment banker do? They put risk on other people and create a monetization path for non-monetary forms of capital. 04:07 - The peruvian economist Hernando De Soto wrote The Other Path. Chris uses his examples of home titles as something to leverage for capital creation. Investment b…

01:55 - Get out of the world of money, and get into the world of capital. Pay it forward: money, experience, skills, etc. 02:38 - He called Eric "Peter", and Eric chose not to be offended. And we also hear the cars in front of Chris's house. 04:08 - Capital (and money) is intangible, and it was entirely based on relationships and reputation to be a…

00:21 - What is the difference between money and capital? 01:22 - The time value of money 02:45 - Money enables instant action. It gives us the illusion of power. It is liquid and portable. 03:17 - Capital is what gives you power and freedom of more decisions. 09:32 - When living in the world of money, you're trapped on the treadmill of time. When …

01:30 - A market is nothing more than an environment in which buyers and sellers can come together to buy whatever they please for whatever price they agree upon. 03:42 - Analogy of the farmer's market 06:37 - We are complex individuals with individual wants, needs and abilities. But the market allows us to make a free decision with another unique …

Curious about the secluded world of international investment banking? This podcast is an unscripted, unfiltered perspective from a real insider, Chris Coffman. Chris is a recovering international investment banker, and now an author (Crisis Deluxe). Eric knows almost nothing about the global financial system, so he gets to pick Chris's brain. And s…