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Episode 275: Planet Money (Patreon)

Published:
2023-03-13 14:09:12
Edited:
2024-03-05 16:57:48
Imported:
2026-06
Tags:

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Content

Freelance journalist Jacob Silverman joins us to talk about the collapse of Silvergate Capital, the shakedown of crypto, and his forthcoming series on Sam Bankman-Fried and the implosion of FTX’s billion-dollar fraud.

Files

Comments

CT

Foist

original gay pussy eatah

Guys have any of you read Testo Junkie, very interesting thoughts on capitalism and peoples bodies, written by a trans man. Should be canon, honestly.

original gay pussy eatah

It’s also interspersed with extremely unhinged anecdotes from the authors life, all describing varyingly effective attempts at resistance

Panfriedsteak

Brace thoughts on the half dollar?

Colin Andrews

Brace you gotta add in a couple brbrbabrbbabsbssaauugh head/lip shakes to Gungan Coin Dexter

Lewis

i'm up 1k naked shorting $FFWM

Lewis

1.7k now

Lucy

Why was the yarn store I work at wrapped up in silicon bank??

Second Mountain Miller

The "lost it in a boating accident" thing is a common joke among gun people. Meaning someone had something that was registered to them they want off the record, so they report it stolen or lost in a boating accident.

danny

when did coindexter turn into marge simpson

Doc Adna

Havent listened yet but kinda feel y'all shoulda got coffeezilla on for a while now to cover ftx? Would that have been possible lol?

CC

Holy shit I’m laughing so hard I’m crying at Coindexter’s character arch

The Dee's Knees

I was wondering if you three were gonna talk again ever since FTX got in the news and this was everything I hoped for, it was such a treat thank you so much

Tom Rogers

The boating accident thing comes from an ATF thing where they lost our hid a bunch of guns or something in a lake. Guys who want to own illegal guns post-ban say that if the ATF comes calling, they'll just say they lost them all in a boating accident. Gun reddit type stuff

j

Looking forward to it!

Char Kelly

Brace learning about The Balls **iconic**

Svid

Impressive that Brace is still able to record while playing in the world baseball classic for Israel 🇮🇱

Svid

What position does Brace play you ask? Well short stop of course.

Andrew

Coindexter right at the start.

j

Boating accident is used in stupid ATF jokes too

Lord Drewcifer

The Liz Noise sounds like one of those cute James Bond guns 🔫 🔫

Reilly Pehling

Enough with the foreshadowing give us the aunt episode we deserve

james

thank you!!! listening now.

Sam Zeng

Financial Advisor Liz Franczak

justdave

Pull on one thread...

james

so good. I like how you guys keep it more or less objective. hyperbolic takes on how scammy this is and ad hominem about SBF are so tired, we've all heard every single take/joke 100 times. It's scammy and salacious enough without having a ton of that and you guys balanced it well.

Jerry

Love some afternoon FUD

orc

Fucked up by Brace just learning about the Ball family

Kamran Husain

Where can I preorder tickets for the “brace belden $experience - acouchstic version”?

SamT

Hell yes

N

And as of like 6 hours ago Signature, which they mentioned has also collapsed

AC

The Company I work for was bought by Fortune 500 last year and they've been pushing us to move everything to Bank of America since... No reason why. 3 accounts at svb...

K

Swear to God I thought that Coin Dexter voice was Janet "Yellin" Yellen yellin at us peasants Medieval-style from her castle post-ogre-asm

rhiannon

i read a rumour that the gisele and tom divorce is connected to ftx declaring bankruptcy but they’re saying it’s football

nadia

the longest seconds of my life were spent waiting for brace to make a joke about michael saylor and the “boating accident”

B

You gotta love a superseding indictment

Courtney Rogers

Sacagawea coins from public transit stations in 2007 hits too close to home for me

K Barlas

I'm sorry, three arrows capital?

a clash of purple

Let's get some Six Arrows Capital over here, hey! My fellow Kemalists know what I'm talking about!

Major bit me

Sam’s parents are extremely well connected lawyers and one’s a Stanford law professor. Kind of weird

Brian Long

“It’s like my daughter” lmao brace kills me

NakedSunFlower

Thanks for the new episode. As always it turned out super informative, I will listen to it again when I get home

Doug Cartel

fucking christ the predatory crypto marketing towards black people is infuriating

Doug Cartel

I do need that snarl by Brace as a sound drop or a ringtone or something though

Alaric

Legit started to think that Liz was gaslighting Brace about the Balls when she revealed they all play basketball. Parents shouldn't be allowed to have their kids names sound alike unless they're all in vaudeville

Alex

Liz really shines in these financial episodes

Rbfen

Lmao why would Liz think Brace knew about Big Baller Brand?

John Swan

Great cryptosode!

Dan

"Occupy" people were freaks and psychopaths in 2011.

S H

Wine poured. Spliff rolled. I dress in head to toe military surplus down, and huge, clonks mountaineering boots to go sit in the garage to smoke, because I’m dog sitting at my moms house. Let the trueanon roll

Gabi

You can faintly hear Brace rip his Juul at 1:13:25

blazed uncle

I made the mistake of thinking I could just Google “bitcoin poker room code” to find the story about the poker room code in bitcoin

a clash of purple

Everyone in the world today is the dumbest person in the world.

Ben

Dead at brace saying “Brenden Fraaaasier”

Ben

That shit killed me.

Mugiwara

You guys are putting out classic ep after classic ep lately, insane hot streak

MinkL0af

Bank goes under- spectacle- Fed sets a precedent that they will print as much money as the banks want "to keep any more banks from collapsing"- banks effectively get a humungous pile of cash that gets distributed out to all major public companies and 99% of the money printed goes directly into stock buybacks- stocks start magically recovering- bull market officially initiated- Fed gets praised for "averting catastrophe"- all banks and bankers come out on top- Biden admin takes credit- inflation, wages, and unemployment remain mostly stagnant while stocks fly- eventually the final sell off occurs. The "infinite bailouts for everybody" procedure established in 2009 is activated to manufacture a fast and furious bull market, when almost no banks or companies really even needed to be bailed out in the first place, what can go wrong?

Dylan

Real OG’s remember the Bart scam back in the day where you would cut the strip on the card into multiple strips and glue them onto other cards.

Frank

Would you all consider doing an ep on Banco Ambrosiano and the Vatican? Watching Vatican Girl rn, this shit is nuts

Satcomdaemon

Every time one of these episodes on crypto drops, I wonder how it's different or worse than the rest of finance. I'm still wondering.

Red Herring McGuffin

the 'i lost it in a boating accident' has for a long time been the meme excuse gun guys say they'll give in the case of a ban/registration/whatever after hiding their guns somewhere pretty sure they've been saying it longer than crypto has been a thing, but no idea if it's the origin of the saying

Lawson

Love when Liz shares any kind of sports knowledge.

MinkL0af

I do get annoyed with the constant insistence that cryptocurrencies are fake and how crazy it is that this is all fake. REAL MONEY IS FAKE MOTHERFUCKER. US DOLLARS ARE LITERALLY FAKE. STOCKS ARE FUCKING FAKE. IT'S THE EXACT SAME.

suzakuwatzu

Funniest intro with the Big Baller Brand shit, had me rolling on my way to work.

Jeremy hatrington

But you can buy real stuff with dollars, stuff that isn’t drugs or Cheese Pizza

a clash of purple

Whoa, MinkL0af, you're really blowing my mind here... If you think about it, like, nothing is real man... whooooaaaaa...

surrander 2000

One of the "Best Ever Trueanon Comments" - part of the fun as The End Of The End Of History continues unfolding. { :<)▪︎

surrander 2000

Great, G R E A T prelude to ep 276. Now all we need is a wraparound that back-to-front overviews the entire span with a focus on "whaaaat happened ?!?!" when somebody realized Mr. Gutenberg's machine could be used to print (£$¥€) V A L U E ! ! ! aw

MojoMan

Who needs crypto when you three rake in close to $30,000 per/mo for just being pundits. YES! I am sooooo green w/ envy.

justdave

To be fair, cheese pizza and drugs is literally the ENTIIRE EECONOOoomyyy! (I fell down a well)

Cory Waring

Gun guys been saying this since way before crypto was a glimmer in their daddy’s eye.

Natalie

pundits for who exactly

MojoMan

Okay top flight journalists

Eva

Cool. I wonder if SBF and all that money and JP are all connected somehow to the Epstein case.

BeanCurd

This is one of my favorite episodes ever...thank you for helping me to make sense of this stuff! Also, I highly recommend the new PBS doc "Age of Easy Money" (featuring an interview w/ Jacob Silverman)

Bushwack

Caroline Ellison’s “double or nothing” strategy is better described through the Martingale method. It only works (without modification) in a game with 1:1 odds of winning:losing, and a payout of 1:1. You bet x, with x being a relatively small amount, and if you win, you win x on top of your wager as profit. If you lose, you then bet 2x so that you win back your wager and previous loss, for a net 0. If you lose at 2x, you then bet 4x to gain back your wager and the previous losses, etc. It works to mitigate losses if you win within your loss budget, but no events offer the 50% odds and 100% winnings that the Martingale method assumes. The house, whomever that may be, would never offer that. Long story short, I lost my casino winnings in a boating accident. And my casino losses are twice the value of the boat.

Bushwack

It can be modified so that you always profit when/if you win, but it only increases the pot for each bet. So you’ll lose more when you lose to win more when you win. Just find a sucker willing to offer 1:1 payout for a heads/tails toss, and it might be tenable.

Natalie

what does that mean

Wes Rich

Shout out to all the Wesleys out there!

To w

Fent is CII : P