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A Masterclass In Central Banking | Professor Jane Knodell 

Blockworks Macro
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Jane Knodell, professor of economics at the University of Vermont and author of "The Second Bank of the United States: Central banker in an era of nation-building" joins the show for a masterclass in financial history. Taking us back to the founding of the First & Second Bank of the United States, Knodell discusses the origins of banking, central banking and everything in between, taking us on a tour from the late 1700's to present day. To hear all this and more, you'll have to tune in!
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Timestamps:
00:00 Introduction
01:02 The First Bank In The United States
04:29 The Coinage Act Of 1790
08:37 The Financing Of The Revolutionary War
14:40 How Successful Was The First Bank?
17:14 The Second Bank of the United States: “Central” Banker in an Era of Nation-Building
24:50 The Mechanics of "Discounts, Exchange & Treasury Debt"
29:05 The Panic Of 1819
33:02 The Panic of 1825 & The Role Of "Central" Banking
40:12 Did The Second Bank of the United States Closing In 1836 Have Any Effect On The Panic Of 1837?
46:29 The Panic Of 1907: The J.P. Morgan Bailouts
53:55 The Financial System's Plumbing
57:54 The Financing of WWI
01:02:34 The Great Depression
01:07:47 Can The Federal Reserve Print Money?
01:11:13 Bretton Woods
01:15:35 The Treasury-Fed Accord
01:19:15 The FTX Fallout
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

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16 июн 2024

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Комментарии : 90   
@jacobsteenhuysen7526
@jacobsteenhuysen7526 Год назад
Amazing. Such a good interview. Good job.
@gillesnick1052
@gillesnick1052 Год назад
Be aware of scam in the comment sections. They are getting more and more sophisticated. Just incredible. Stay safe out there
@Doitallgp
@Doitallgp Год назад
DM me for guidance on selling your toenail clippings for 1000s of dollars per month!!!
@handyrams4822
@handyrams4822 Год назад
I'm going to have to go back and watch this twice.
@solomongotau
@solomongotau Год назад
✍✍✍✍✍🗼🗼🗼🗼📩
@kikolatulipe
@kikolatulipe Год назад
I hope you will be able to invite this lady for a second interview that covers 2007-2022 !
@StephXX3
@StephXX3 Год назад
yes please
@BoomBustProfits
@BoomBustProfits Год назад
Is this lady a member of the Fiat Banking Cartel? Most Profs & actual Central Banking members (Powell & co.) do not understand their own system… Jeff Snider’s Eurodollar University is excellent, and another solid background course is Understanding Monetary Mechanics by Bob Murphy… Fir monetary history no one beats M.N. Rothbard…
@TaticalRemedy
@TaticalRemedy Год назад
Yer I wasn't to impressed either when comparing to the real OG's like Jeff.
@maninderchahal2442
@maninderchahal2442 Год назад
Prof Jane is awesome!
@ipeteagles
@ipeteagles Год назад
excellent discussion with the Professor, ty
@EHame
@EHame Год назад
Thank you for this educational podcast. Do more!!!
@detectiveofmoneypolitics
@detectiveofmoneypolitics Год назад
Economic investigator Frank G Melbourne Australia 🇦🇺 still watching this very informative content. WOW ! ! , this content is great cheers Frank
@ronaldd8918
@ronaldd8918 Год назад
Excellent report, exceptional guest speaker, I hope you bring her back! Very informative
@sivi9741
@sivi9741 Год назад
Knowing history is always useful ! Thx !
@Sandertie1
@Sandertie1 Год назад
This is freaking awesome, thanks!
@AllNighterHeider
@AllNighterHeider Год назад
That was great, thanks you two
@greg.ocallaghan
@greg.ocallaghan Год назад
37:16 “a lot of shareholders e-mailed Nicholas Biddle” 😂 sure Jack!! Jokes aside, awesome interview! 🙌
@mattanderson6672
@mattanderson6672 Год назад
Thank you
@ticker3132
@ticker3132 Год назад
Bravo. Solid.
@HoneyBadger80886
@HoneyBadger80886 Год назад
Please explain the modern equivalent...ie: how #CA and #NY subsidizes #KY and #WV ? While impoverishing the working poor of California and New York. How does this obscenity end?
@anonymousAJ
@anonymousAJ Год назад
35:20 A central bank is supposed to become less liquid when the banking system needs liquidity Walter Bagehot in Lombard Street (as close to a manual as the fraudulent central bankers ever had) advises central banks to lend freely but at high interest in the event of a credit crunch Fractional reserve banking is a confidence game, as Bagehot makes clear, and in the event of panic it has to maintain confidence that "money" can be got if one is willing to accept the interest rate
@brandonbreunig6735
@brandonbreunig6735 Год назад
"Support of it's people" means property owners
@anonymousAJ
@anonymousAJ Год назад
28:00 Shocking that the premiere historian of BUS2 would be unfamiliar with a major corruption scandal involving BUS2
@jcl7372
@jcl7372 Год назад
Around 37m "but a lot of stockholders emailed Nicholas Biddle"... pretty sure they didn't have email back then... in all seriousness though nice financial history episode... if more crypto people understood how the plumbing of money and liquidity actually evolved over time via real-world trial and error they would have been better off (crypto world now trying to pretend Binance is a viable liquidity lender of last resort heading into 2023 but that ain't gonna work)... for those who find this stuff engaging might also want to check out the book "Ways and Means" by Lowenstein about how the modern-day monetary system was shaped by the financing of the Civil War
@alastairgee344
@alastairgee344 Год назад
A great discussion...UVM, wow, was expecting some ivy league school, nice
@solomongotau
@solomongotau Год назад
✍✍✍✍✍🗼🗼🗼🗼📩
@AnonymousanonymousA
@AnonymousanonymousA Год назад
How are Dark Pools legal as they evade Price Discovery what makes a free market and are the Central Banks manipulating the Greeks in Options ir the Prime Deakers, brokerages. And other big banks etc?
@ipeteagles
@ipeteagles Год назад
what is liberty
@anonymousAJ
@anonymousAJ Год назад
"No State shall make any thing but gold or silver coin a tender in payment of debt" US Constitution Article 1 Section 10
@solomongotau
@solomongotau Год назад
⬆️⬆️⬆️⬆️☎️☎️☎️📩📩📩
@anonymousAJ
@anonymousAJ Год назад
14:00 Consols... they call that zero-coupon bonds No, these are total opposites Zero coupon means there is no interest payment (historically a physical coupon you would clip off to claim the interest as it came due), only a return of principal at maturity Consol means there is no maturity or return of principal, only interest payments
@solomongotau
@solomongotau Год назад
Feedback appreciated Chat up Let's talk✍️✍️✍️☝️☝️🗼
@AnonymousanonymousA
@AnonymousanonymousA Год назад
And how old is the history of Central Banks some say this millenia some say older?
@oathamfamily6051
@oathamfamily6051 Год назад
Great show. Love reminding Yanks how young they are lol
@solomongotau
@solomongotau Год назад
✍✍✍🗼🗼🗼⬆️⬆️⬆️⬆️☎️☎️☎️☎️
@anonymousAJ
@anonymousAJ Год назад
6:15 "The US was borrowing in specie equivalent... sterling, francs, guilders" Those were not specie equivalent, at that time those were different units of weight of gold and silver Pounds sterling referred to a unit of measure of silver, not to an artificial replacement for silver It's like saying that 'the US borrowed in specie equivalent such as ounces and kilograms' - those aren't alternatives to specie, those are units
@sivi9741
@sivi9741 Год назад
Simple question . How can she say a lack of currency isn’t a bailing out ? Isn’t missing currency the materializations of being over leverage or lending too much ? Hence needing a bail out ?
@jomigregory7253
@jomigregory7253 Год назад
@1:11:25 : Did we complete the answer on euro-dollar system ? The question was about how the offshore-banks able to create offshore dollar ( at will ) ? But later we talk about banks trying hold to as much as US treasuries as possible? So euro-dollar is always backed by equivalent treasuries ? that means offshore banks don't create offshoredollar out of thin air ... Thanks for the great interview
@peterharestidsen6556
@peterharestidsen6556 Год назад
Eurodollars are pure credit. Not currency.
@jomigregory7253
@jomigregory7253 Год назад
@@peterharestidsen6556 yes I read that it is just a ledger based money for transaction. looks like it is backed by treasuries in some form - but some form of money multiplier is happening
@anonymousAJ
@anonymousAJ Год назад
12:15 The first bank (of the US federal government) was keeping its money on a par with specie No, the specie was the money, you mean "currency"
@solomongotau
@solomongotau Год назад
⬆️⬆️⬆️⬆️☎️☎️☎️📩📩📩
@martynfenton3814
@martynfenton3814 Год назад
He says she knows more about 2nd bank than anyone else on earth and yet half of the questions he asks she says " ask someone else I don't know"!
@solomongotau
@solomongotau Год назад
✍✍✍✍✍🗼🗼🗼🗼📩
@stevekobb3850
@stevekobb3850 Год назад
A fascinating interview... but let me point out a few sad facts: Amazon's current price for a paperback edition of Knodell's book on the 2nd bank is $48.95. A hardback version goes for almost $131. Even a Kindle version is $37... for a 188 page book. I fault the publisher for setting these absurd prices. Why don't they charge more reasonably so that more people can learn from this gifted historian?
@jeffreyestrada5935
@jeffreyestrada5935 Год назад
One could get far into a BBA degree by just writing papers off this information and a little research. Comprehensive exam material.
@teslanewstonight
@teslanewstonight Год назад
🤖🧡
@Rick.4890
@Rick.4890 Год назад
Thanks bud for keepin us financially Educated! Regardless of how bad it gets on the economy, I still make over $22,000 every single week.
@waynedrake1519
@waynedrake1519 Год назад
As a beginner investor, it's essential for you to have a mentor to keep you accountable 🤷. Myself I'm guided by Mrs Arianna Simpson, a widely known crypto consultant 💪
@kendrickshaw8852
@kendrickshaw8852 Год назад
I'm also a new subscriber of Mrs Arianna Simpson coaching program and I'm so excited took a positive turn by earning over $10k biweekly
@SimonKelly7836
@SimonKelly7836 Год назад
Mrs Arianna Simpson has aided so many newbies. I made over $74k with some amazing gains in the market, her pattern are very lucrative
@Jody8337
@Jody8337 Год назад
No doubts! The strategies and Al auto trading tools she provides for beginners are very helpful, being part of her vip signal channel has really helped me as a stock holder
@ilmarimakinen2904
@ilmarimakinen2904 Год назад
I've really heard a lot about Mrs Arianna Simpson! How do i connect with her?
@vatchemanoug
@vatchemanoug Год назад
Very good historical content but i feel could be better planned questions for such a knowledgable person and the answers are a bit convoluted. For example the portion of the bill of exchange is what we call a receipt/invoice today. When you sell something to someone, You draw up an invoice with some terms, like payable COD, or a term like 30 days plus what we today we call a Late payment fee if it is late. The bill of lading, is the actual freight information that went along with the bill of exchange that itemized the cargo being shipped. Overall i appreciate the content yet title is misleading as it has nothing to do with what the FED or BOE or other central banks have done for the last 15 or so years. Title says, masterclass. Where is the current content?
@stevedallas55
@stevedallas55 Год назад
patagonia...yvon....tax deferral...something...something
@caninek9792
@caninek9792 Год назад
Interviewer is very smart but the way the questions are asked basically tells the story that the guest is supposed to tell. Just ask a simple open question and let the guest answer it.
@peterharestidsen6556
@peterharestidsen6556 Год назад
She did not answer on eurodollar system. I would have been be very surprised if she did!
@bitcapone3173
@bitcapone3173 Год назад
Central banks created to enable trust between banks. Crypto is trustless and solves this issue
@anonymousAJ
@anonymousAJ Год назад
2:15 "There was no stable monetary unit" Absolutely false. The monetary unit was the Spanish dollar, a weight of silver
@softwarewizards9869
@softwarewizards9869 Год назад
The anglosphere hates everything having to do with Spain. You will see this pattern everywhere if you pay attention. The Spanish dollar (Real de a ocho) was even used in east Asia for a long time. Such was the reach and influence of the Spanish Empire.
@richardgiggles5094
@richardgiggles5094 9 месяцев назад
While I’m impressed by what Jack Farley has done with this podcast over the last year, I am really unimpressed with Jane Knodell. She seems vague and fluffy on everything. The value added here all comes from Jack’s comments.
@nonyab3237
@nonyab3237 Год назад
Nice alignment of your camera and microphone, doofus
@ayedebinuomoyeni6594
@ayedebinuomoyeni6594 Год назад
Thanks bud for keepin us financially Educated! Regardless of how bad it gets on the economy, I still make over $22,000 every single week.
@kimberlyanson1631
@kimberlyanson1631 Год назад
No doubts! The strategies and Al auto trading tools she provides for beginners are very helpful, being part of her vip signal channel has really helped me as a stock holder
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