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Mufasa: "Everything the light touches is our kingdom."
Simba: "What about those shadowy places?"
Mufasa: "No one knows what happens there, Simba. Not even the banks."
Simba: "Then where's the money?"
Mufasa: "In transit."
Codex is bringing the shadowy places into the light.
@ism_sol Use this almost everyday for general chatbot, research, and comparison. Sekalian hemat compute di llm lain 😅 . Honestly untuk research karena Perplexity bisa fact check sangat helpful.
Darrell Duffie of Stanford is famous for being the world’s foremost scholar of financial market plumbing.
Few will know that he was also a director of The Narrow Bank (TNB), the bank the Fed quietly strangled for the crime of being too safe.
In this episode we cover: Why did TNB die? What are the parallels to the state of stablecoins today, if any? Do stablecoins actually threaten bank deposits?
What does a Treasury security purpose-built for on-chain settlement look like? What tokenized assets should serve as the backbone of financial system of the future?
Darrell’s Brookings paper with Don Wilson and TNB’s regulatory comment letter on Regulation D are both worth reading alongside this episode.
• 00:00 – Intro
• 01:07 – The Bank That Couldn’t Fail
• 03:53 – Will Stablecoins Kill Lending?
• 07:54 – Private Credit’s Run Problem
• 11:14 – Too Safe to Exist
• 18:31 – Why USDC Can’t Run Wall Street
• 25:21 – The Narrow Bank Returns
• 28:22 – If Duffie Ran Global Finance
• 31:25 – The Stablecoin Sandwich Problem
• 34:20 – The End of CLS?
• 40:31 – Nubank vs. JPMorgan
Brought to you by Codex, the stablecoin foreign exchange specialist.
I'm curious on people using Raycast. What are the strength and workflow you build on Raycast? I'm an Alfred user and for me, Alfred gives me faster and snappier interface to open files, folders, apps.
Moved to Claude Agent SDK, launching MCP. Nice move to bring PL to the masses. Hopefully later it will bring daily news, news update to the cron job scheduler and auto summarize briefs