What is a true financial crisis, how does it differ from the mere popping of a speculative bubble or a vanilla recession, and what are the current risks of a financial crisis right now? Steven Kelly, an expert on financial crises and Senior Research Associate at the Yale Program on Financial Stability, joins Jack Farley and Joseph Wang (“Fed Guy”) to discuss these questions. Wang, a former senior trader for the New York Federal Reserve, shares his insight on why, despite the Fed’s quantitative tightening (QT) and rapid rate hikes, liquidity remains high. Kelly and Wang agree that the risk of a true financial crisis such as the one in 2008 is unlikely to occur, because as Kelly argues, banks have much more capital to endure losses. Filmed on February 13, 2023. -- This episode is sponsored by Public.com. Go to https://Public.com/forwardguidance to move your cash into a Treasury Account today. -- Follow Joseph Wang on Twitter https://twitter.com/FedGuy12 Follow Steven Kelly on Twitter https://twitter.com/StevenKelly49 Follow Jack on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ Steven Kelly on bank regulation: https://rb.gy/isdjlm Joseph Wang on QT  https://rb.gy/fdwd5j -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos -- Timestamps: 00:00 Introduction 00:38 What Is A Financial Crisis? 05:14 "It's Really Hard To Find Capital In A Crisis" 08:16 Bank Capital Ratios 16:35 What Is The Risk Of A Financial Crisis Right Now? 22:06 The Federal Reserve As The Dealer Of Last Resort 27:20 Public Ad 28:28 Joseph Wang On The Fed During March 2020 34:25 Do Rate Hikes and Quantitative Tightening (QT) Increase Risk of Financial Crisis? 36:51 Why Is Liquidity Rising? 42:51 What Is The "Problematic" Collateral Now? 46:36 "Everything Looks Fine" 50:49 Unrealized Losses on Bank Balance Sheets Due To Rate Hikes 54:05 Inverted Yield Curve 54:56 The Debt Ceiling 01:00:41 Is There A Limit To How High The Fed Can Hike? 01:03:36 Potential Risks In The Shadow Banking System 01:13:19 Inflation As A Financial Risk Itself -- 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. ... https://www.youtube.com/watch?v=-r4VJWDN9oc

... https://www.youtube.com/watch?v=1YfFqZ3CYGE

On today's edition of "Boiler Room," Alfonso Peccatiello is joined by Jeff Snider and Steve Van Metre of Atlas Financial. Jeff, Steve & Alfonso walk through some of the biggest misconceptions in our current monetary system. We discuss some of the emerging signs of a collateral shortage in the banking system, the current labor market, bank lending data and the inversion of the eurodollar curve. Just what signals is the bond market sending to the market, to find out, you'll have to tune in! -- Follow Steve: https://twitter.com/MetreSteven Follow Jeff: https://twitter.com/JeffSnider_AIP Follow Alfonso: https://twitter.com/MacroAlf Follow Blockworks: https://twitter.com/Blockworks_ Subscribe To The Macro Compass: https://themacrocompass.substack.com/ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: 00:00 Introduction 00:27 What Is Atlas Financial? 04:18 Is The Labor Market Strong? 09:57 The Eurodollar Curve Inversion 14:16 Bank Lending Is Collapsing 19:46 Signs Of A Collateral Shortage 28:05 Bank Reserves Are NOT Money -- Disclaimer: Nothing discussed on Boiler Room 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. ... https://www.youtube.com/watch?v=PZ9l893wEuo

Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/ __ Jason Hsu of Rayliant joins Forward Guidance to share his view on the particulars of the Chinese equity market. Hsu argues that the “brutal” bear market is close to over and makes the bull case for onshore Chinese stocks. Recorded on March 28, 2024. __ Jason Hsu on LinkedIn https://www.linkedin.com/in/jasonchsu/ About Rayliant https://rayliant.com/ Follow VanEck on Twitter https://twitter.com/vaneck_us Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: 00:00 Introduction 00:42 The "Brutal" Bear Market In Chinese Equities 13:00 In China, It's Not The Homebuyers Who Are Indebted... It's The Builders (aka Developers) 19:42 Spillovers Of China's Real Estate Correction 23:52 Impact of Real Estate Issues On China's Banking System 26:50 Beijing's Biggest Fixation: How To Avoid Japanese Real Estate Bust Of 1990s 34:10 Regulatory Scrutiny On Tech And Other Industries Has Been Reduced 38:21 VanEck Ad 39:03 5-10 Years From Now, People Will Look At Now AS Bottom In Chinese Equities 40:06 China's Ambition To Move Up The Value Chain 43:15 Just How Cheap Are Chinese Stocks? 44:10 Who Are The Investors In The Chinese Stock Market? 46:20 Immense Pessimism Has Gripped Chinese Stock Investors 47:28 What Causes Chinese Stocks To Go Up Or Down? 49:17 China's Role In Emerging Market Equity Portfolios 52:02 What Moves Emerging Market (EM) Stocks As A Category? 56:05 Latin American, Middle East, and Africa 57:34 The Role of Diversification and "Quantamental" Analysis 01:04:57 State-Owned Enterprises (SOEs) - What Do Investors Really Own? 01:08:40 Biggest Overweights. (Mexico) and Underweights (India) 01:11:12 Mechanics Of "The Beijing Put" __ 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. ... https://www.youtube.com/watch?v=hliADo7sGnA