The Bankster Podcast: Recent Episodes
Alexander Bagehot | Central Banking summarized, translated, and explained in similar fashion as NPR,
I summarize and explain recent Central Banking and Monetary Policy related news from the Federal Reserve and Central Banks from around the world. Then I take a more in depth look into a historical event or person that helped shape what central banking is today.
An unabridged reading of the Bible of central banking “Lombard Street: A Description of the Money Market: by Walter Bagehot.
Available chapter by chapter wherever you get your podcasts.
Season 3, Episode 7
As the Coronavirus spreads around the world, central banks leap into action. The lenders of last resort open their doors wider than they ever have in the past. This is the final episode in this season.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Connect with me on twitter @KalebNygaard
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Transcript with full list of sources available here
Season 3, Episode 6
The worst economic recession in 80 years and central bank’s most dramatic show of lender of last resort force. To fight the Global Financial Crisis the Federal Reserve took its lender of last resort powers to the next level.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Connect with me on twitter @KalebNygaard
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Transcript with full list of sources available here
Season 3, Episode 5
Financial crises don’t always happen because of missteps or exuberance in financial markets. Today we tell the story of how the Federal Reserve responded to 9/11 and Hurricane Katrina.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Connect with me on twitter @KalebNygaard
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Transcript with full list of sources available here
Season 3, Episode 4.
One situation pulls central banks into the public eye more than any either - dealing with institutions that have become so large that their impending collapse would cause such disproportionate destruction on the financial system and the wider economy that the central bank feels it has no choice but to intervene. The origin of Too Big to Fail and then the story of two such institutions that the Fed dealt with in two distinct ways.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Connect with me on twitter @KalebNygaard
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Transcript with full list of sources available here
Season 3, Episode 3
The Federal Reserve’s actions and inactions in response to the Great Depression and how deposit insurance serves as a sister policy to the lender of last resort. This is episode 3 in season 3's history of the Lender of Last Resort.
Go to www.centralverse.org for episode transcripts and interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Connect with me on twitter @KalebNygaard
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Transcript with full list of sources available here
Season 3, Episode 2
No crisis is the fault of one person, and no successful rescue can be attributed to a single person. But the stories we tell have heroes and villains for a reason. Some people play an outsized role in bringing the system down and others in pushing it back up. The October 1907 attempted corner of the copper market, the financial panic it caused, and the subsequent rescue have a handful of such heroes and villains. Episode two in our series on the history of the Lender of Last Resort.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Connect with me on twitter @KalebNygaard
Subscribe! Rate! Share!
Transcript with full list of sources available here
Season 3, Episode 1
The economic crisis response playbook was written in 1873 by Walter Bagehot, and central bankers have called upon the sacred text for the century and a half since. Who was Walter Bagehot and what does he prescribe central bankers do to stop bank runs and economic panics? This and a speedy 200 year history of central banking before Bagehot in Episode 1 of Season 3.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.
Subscribe! Rate! Share!
Transcript with full list of sources available here
The fundamental power to create money that makes central banks what they are, is most dramatic when they wield that power in attempts to rescue collapsing economies. This is central banks as Lenders of Last Resort. In the seven episodes of Season 3, we're telling the history of the fundamental principle of the lender of last resort. First two episodes drop Thursday July 23, 2020; then every Thursday morning after that.
Go to www.centralverse.org for interactive graphics explaining how modern central banks work today.
Subscribe! Rate! Share!
Transcript with full list of sources available here
I submitted the following trailer as part of the podcast competition sponsored by Squarespace and Gimlet Creative. Enjoy! I also announce the end of Season 2. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Why the Meeting Minutes of the Federal Open Market Committee matter. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.centralverse.org.
A rebroadcast of our very first episode on the 2nd year anniversary of The Bankster Podcast.
Of equal importance to the final decision of the next New York Fed President is the process by which this decision was made. Today we unwind that complex process. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Send an email to alexander@thebanksterpodcast.com to get early beta access to our new website www.centralverse.org
Too many important events of the past two weeks, so we’ve started a new series called News Flash. Today’s Flashes include: Bear Stearns, The Senate Dodd Frank Bill, NYFed’s Presidential Search, and the FOMC meeting. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
A Riksbanken video gave me a good laugh, and a 350th birthday is cause for celebration and reflection. On today’s episode: (1) very briefly how did it start. (2) its relationship with the Euro. (3) its policy goals. (4) and finally its role in the Nobel Prize of Economics. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Round V of the listener favorite, Centralverse Q&A: Who really chooses the Chair? And who is second in command at the Central Bank? If you have questions you’d like answered on the podcast send them in. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
As Janet Yellen leaves on her final day as Chair of the Federal Reserve System we take a look back at the last complicated transition from one Chair to the next - that of Marriner Eccles 70 years ago to the day. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
A look at the State of the Federal Reserve in 2018. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Round IV of the listener favorite, Centralverse Q&A: What does the CFPB have to do with the Federal Reserve? Who is Marvin Goodfriend? If you have questions you’d like answered on the podcast send them in. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Two members of the FOMC gave very similar speeches last week. Their message? In preparation for the next economic downturn, we need to define the “expansion” of tools we used during the the Great Recession. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
o appointments at the Federal Reserve last week. One I’m certain you heard about and another one I’m just as certain you did not hear about. On today’s episode a quick recap - the new Chair of the Federal Reserve and the new Secretary of the FOMC. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Can you imagine one of the current candidates for Federal Reserve Chair demanding significant structural changes to the system before accepting nomination? Can you imagine the president and then congress actually agreeing to such requests? Eccles. 1934.
Another set of great questions on today’s round of Centralverse Q&A: Who is in the running for Chair of the Federal Reserve? And, briefly, what does the Federal Reserve Chair do? If you have questions you’d like answered on the podcast send them in. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Two great questions on today’s round of Centralverse Q&A: What are the requirements for becoming a Fed governor? How will the Fed’s balance sheet change? If you have questions you’d like answered on the podcast send them in. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
Arguably one of the most important people at the Federal Reserve is someone that is rarely seen. Who is the General Counsel and what does he do? On today’s episode! As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
The first episode in a new series I’m calling, “Centralverse Q&A”. If you have questions you’d like answered on the podcast send them in. As always, I can be reached for comments, feedback, or questions on twitter or via my website www.thebanksterpodcast.com.
The Fed just put in their order for next year’s cash - a whopping $233 Billion. With all of that new money distributed through Federal Reserve Banks throughout the country it begs the question - Has the Fed ever been robbed? Today’s episode!
A contemporary relative of our Marriner Stoddard Eccles just might find herself in the building that bears Eccles’ name. Who is she? What’s her connection to the former Fed Chairman? All that and the story of Marriner Eccles father on today’s episode!
The quest to find the source of the ubiquitous Fed Disclaimer, “the views I express are my own and do not necessarily reflect the views of my colleagues on the FOMC or within the Federal Reserve System.”
My in depth research into the life and works of Marriner Eccles begins! Today I start with an incredible story of his first real business venture. Introducing - Marriner Eccles, The Entrepreneur.
The very first episode in the new segment called Our Recession - an interview series presenting personal experiences from real people that lived through the Great Recession.
An introduction to the new season which will include three new segments: Marriner Eccles, the Centralverse Website, and Our Recession interview series.
The Bankster Podcast is changing! I'm excited to announce the two new focuses of the podcast going forward and why I've decided to change course.
The second half of our series on the fascinating story behind the choosing of the twelve Federal Reserve Districts and their city headquarters.
The beginning of our series on the fascinating story behind the choosing of the twelve Federal Reserve Districts and their city headquarters. Also, a fun and new way to look at the money in your purse and wallet!
We continue our conversation on monetary policy rules with an introduction to the most famous man behind the Rules Movement - John Taylor. Also I’ll introduce you to the law being tossed around the US Congress that would take monetary rules to a whole new height.
How a simple math equation became one of the largest debates in Monetary Policy at the Federal Reserve and Central Banks around the world. Today’s episode in two sections: (1) How is monetary policy currently decided? And (2) What is a policy rule?
On this week’s episode we discuss an entertaining bit of news. I then introduce an exciting new feature of www.thebanksterpodcast.com.
This week we finish our Colorful Books series by discussing the Green, Blue, and Teal Books. Who prepares them? Who reads them? Where did they come from? All of this and more on this episode!
This week we continue our series on the colorful books of the Federal Reserve. One of the signature decorations of the Christmas holiday is colored lights. When you think of Federal Reserve publications - colorful is probably not the first word that comes to mind. But this series will change that!
One of the signature decorations of the Christmas holiday is colored lights. When you think of Federal Reserve publications - colorful is probably not the first word that comes to mind. But an announcement by the Federal Reserve brought one of the colored books back into the spotlight-The Beige Book
Turns out each of the twelve Federal Reserve Banks has their own board of directors. Who are these directors, and how are they chosen? We’ll use the makeup of the boards of directors as an illustration of the term “quasi-governmental”.
How the next president of the United States will affect the Federal Reserve. A short episode on the impact of a change in political party in the highest ranked position in the free world.
An episode dedicated to Fall! And to be more specific an important phrase in the Centralverse about the overarching, high level goal of all central banks. The phrase is part of one of the most important metaphors in finance.
A trip into the past and across two continents. Two history sections on today’s episode. One from the Centralverse’s connection to the Nobel prizes. And the other from Banxico, the Central Bank of Mexico.
Has the Federal Reserve ever been robbed? And what’s all this talk about doves and hawks? On today’s episode we dive into the meaning behind “the birds”, and we tell the story of a 1930’s Chicago gang and their attempt to rob the Fed.
Does the Fed pay taxes? Does it make a profit? Today’s episode covers one of the most important distinguishing characteristics of the central bank. We answer these and a few other interesting questions about accounting in the Centralverse.
How did a small resort town in Northwestern Wyoming become home to one of the most important Economic Conference in the world? Also, finding the pattern in Centralverse speeches by analyzing Janet Yellen’s at the Jackson Hole Symposium.
A few carefully chosen words from a central bank can save an economy in panic or send it spinning out of control. Three stories today illustrating the high impact of Centralverse language.
The exceptionally fascinating story about how the Federal Reserve fought for and won their independence from the Executive Branch.
Walter Bagehot's book Lombard Street is one of the most important in all of central banking history.
Also, a look into an experience that Paul Volcker had as Chairman during an inflation crisis.
Find out how the New York Fed amassed the largest stock pile of monetary gold in the world.
An explanation behind the decision to leave interest rates the same and a brief history of the committee that made that decision - the FOMC.
On this episode we dive into the new changes coming to the Federal Reserve notes. We also learn about the history of the Fed and the Treasury Department.
On the importance of the words of Central Bankers featuring modern day Federal Reserve leaders and the incredible story of a bank run in Utah during the 1930's.