Save and Invest Like The 1%: Zach Wildes Talks About Celsius Network’s Revolutionary Financial Services Business Model

“When someone opens a bank account and makes a cash deposit, he surrenders the legal title to the cash, and it becomes an asset of the bank. In turn, the account is a liability to the bank.”

https://www.investopedia.com/terms/b/bank-deposits.asp

The Federal Reserve’s Response to COVID-19

https://www.brookings.edu/research/fed-response-to-covid19/

Temporarily relaxing regulatory requirements: The Fed is encouraging banks—both the largest banks and community banks—to dip into their regulatory capital and liquidity buffers, so they can increase lending during the downturn. The reforms instituted after the financial crisis require banks to hold additional loss-absorbing capital to prevent future bailouts. But these capital buffers can be used during a downturn to stimulate lending, and the Fed is encouraging that now, including through a technical change to its TLAC (total loss-absorbing capacity) requirement, which includes capital and long-term debt. (To preserve capital, big banks also are suspending buybacks of their shares.) The Fed also eliminated banks’ reserve requirement—the percent of deposits that banks must hold as reserves to meet cash demand—though this is largely irrelevant because banks currently hold far more than the required reserves. The Fed also relaxed the growth restrictions previously imposed on Wells Fargo, as part of an enforcement action related to widespread consumer protection violations, so that the bank could increase its participation in the Fed’s lending programs for small- and mid-sized businesses.

Cel Token

https://support.celsius.network/hc/en-us/sections/360000538817-CEL-token

Negative Carry

https://www.investopedia.com/terms/n/negativecarry.asp

Margin Call

https://www.investopedia.com/terms/m/margincall.asp

Good Article on The Traditional/Legal Duties of Corporations

https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/a-duty-to-shareholder-value

FDIC (Federal Deposit Insurance Corporation)

https://www.fdic.gov/

SIPC (The Securities Investor Protection Corporation)

https://www.sipc.org/about-sipc/

MakerDAO’s Multi-Collateral DAI (MCD)

https://makerdao.com/en/whitepaper/#abstract

https://www.coindesk.com/there-are-more-dai-on-compound-now-than-there-are-dai-in-the-world

DeFi (Decentralized Finance)

https://blockonomi.com/what-is-decentralized-finance-defi/

Ethereum ERC20 Smart Contracts

https://www.investopedia.com/news/what-erc20-and-what-does-it-mean-ethereum/

Wallets for Digital Assets (Self Custody)

https://www.investopedia.com/terms/b/bitcoin-wallet.asp

WireCard Scandal

https://en.wikipedia.org/wiki/Wirecard

Brain Wallet

https://en.bitcoin.it/wiki/Brainwallet

Financial Self Sovereignty

https://www.forbes.com/sites/alastairjohnson/2019/10/03/self-sovereign-banking-putting-you-back-in-control-of-your-money/#89c7b681f615

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This podcast has been edited for content and clarity

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This podcast is not intended to be financial advice. Do your own research and/or seek financial advice from a reliable professional before investing or depositing your money.

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