A Debt Jubilee to Save the Economy with Arthur Hayes

“You’re basically putting this powder keg together of a situation that’s going to be exploding in Q3 and Q4 this year. And so, while I think ultimately it will be good for Bitcoin, it could be quite volatile on the up and the downside”— Arthur HayesArthur Hayes is an entrepreneur and the former CEO of BitMEX. In my first interview with Arthur, we discuss the state of the world at the moment: what happened with FTX, money printing, the coming collapse, debt jubilees, the need to acquire assets outside the system like Bitcoin, good and bad AI scenarios, and a powder keg of issues that’ll hit the markets this fall. - - - - Arthur Hayes was the co-founder and former CEO of BitMEX, which was one of the largest crypto exchanges and derivatives platforms. In 2021, its average daily trading volume was over $2 billion. Hayes was famously charged in the southern district of New York for violating the Bank Secrecy Act. He got 2 years probation and a $10 million fine. But Hayes remains an authoritative voice within the crypto and Bitcoin communities. Nic Carter called him “One of the good guys of crypto.” He now has a mission to help spread financial literacy and educate investors, which he does through regular medium posts, columns in leading journals and interviews with podcasters. And, he has a knack for calling the market.In this short interview, we pack in a surprising number of issues: Hayes's investment strategy, and views on crypto and Bitcoin; opinions on the FTX scandal; fragility in the banking sector; historical currency debasements and the inevitability of a coming collapse; the use of debt jubilees to right society; investing in assets that can weather the coming storm; the impacts of AI; and the debt ceiling.- - - - This episode’s sponsors:Iris Energy - Bitcoin Mining. Done Sustainably Ledn - Financial services for Bitcoin hodlersBitcasino - The Future of Gaming is hereLedger - State of the art Bitcoin hardware walletWasabi Wallet - Privacy by defaultUnchained - Secure your bitcoin with confidence-----WBD663 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.