[Speaker Series] #1 -- St. Louis Federal Reserve Senior VP; June 29 3:00 PM UTC/11:00 AM ET

If you are looking for the link to this event, here it is. Questions submitted for consideration by the host may be left here in this thread or inside this link.

I am pleased to announce that MakerDAO will be hosting its first in (what I hope is) a series of speakers and discussions around the intersection of economic theory, practical finance, and crypto markets.

On June 29, 2021 at 11:00 am EST (3:00 UTC), we will be joined by David Andolfatto, who is Senior Vice President of the St. Louis Federal Reserve. The topic is tentatively how monetary policy interacts with large crypto financial markets, but feel free to submit questions that are less narrowly focused.

The format will likely be short remarks by Mr. Andolfatto followed by a Q&A. Questions may be submitted beforehand, as well as during the event, and the host (TBD) will ask them on behalf of the DAO community.

More details to follow as the date approaches on how to join this virtual event, and how to submit questions anonymously. We unfortunately will only have Mr. Andolfatto for a short time, so there may not be time for all questions to be asked. Thoughtful questions that are also immediately relevant to the DAO will be prioritized.

I am currently working on a second speaker, and would appreciate any suggestions for what kinds of topics people would like to learn more about. This series will (I hope) also function as a means of introducing MakerDAO to other organizations and individuals that are prominently involved in crypto, finance, and research on the intersection of the two.

Edited to add: @seth @JerryAG let me know if there’s anything you need to make this better material for you to work with

Edited to add 2: Promo graphic – feel free to share!

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Nice job Paper!! Thank you for putting this together. Unfortunately I will be traveling on that day, but I will try to submit a question, or two. Thnxs again, and I look forward to watching the recording.

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As far as making this material useable, it really just needs to be recorded. Crowdcast or zoom are the most recommended platforms, and allow you to record the calls directly. We can discuss the recording settings on any platform you’d prefer to use (I know zoom specifically has a couple different ways you can record the call).

Aside from that, we’d be happy to help with editing (if necessary) and get this posted in appropriate channels.

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This is awesome, @JerryAG @PaperImperium . Keep bringing high profile to the group.

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this is great @PaperImperium and we should keep doing this

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It looks like this will indeed become a series, so let’s make sure we have good attendance and smart questions to keep drawing speakers. I’ll announce the second speaker when we have a specific date confirmed!

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This is really cool. What art of other speakers are you looking for? I have some crypto law types who could be interested but this seems more economics-focused.

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Well done in getting Mr Andolfatto on stage. I believe it’s also a great opportunity for our community to shine by showing knowledge and genuine interest while also asking hard questions.

I will ask here a couple of questions in case I forget to follow up on this.

  1. This world pandemic triggered an unprecedented action by the US Federal Reserve: according to stlouisfed.org website (c.f. chart below), it created 4.5 times more USD in 1 year than in the previous 20 years — $14.4 Trillion between March 2020-21 vs “only” $3.17 Trillion between March 2000-2020 — hyper inflation in the USA seems unavoidable, the world is watching and everyone is very concerned about the impact this might have on the global scale. What are the measures in place to try limit the damage for the US and its allies in the likely case of upcoming global financial crisis?

  1. This world pandemic also triggered an unprecedented action by the IMF: it revived its world currency project called Special Drawing Rights (SDR) by creating 2.2 times more SDR “at once” in March 2020 than in the previous 50 years — from 204.9 to approx 655 billion ($650B worth of SDR created in March 2020). For our listeners and readers who may not know: this is a basket currency made of 41.73% USD, 30.93% EUR, 10.92% CNY, 8.33% JPY and 8.09% GBP where all of the IMF’s 190 member countries get a share of SDRs created, essentially “helicopter money at a global scale” (an airdrop in crypto jargon). Although a currently a very small fraction in the global economy, do you think that in the long term SDR can be a more sustainable solution to deal with global financial crisis rather than “individual” actions taken by central banks or coordinated actions taken in a small group of central banks ?

    Resources:
    Making sense of SDR, by the IMF
    Explaining SDR, by the IMF
    FAQ on SDR, by Aljazeera

I have many more questions in mind on both topics, but I believe that bringing them up is the most important.

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Seems like the Media is all over DeFi and Bitcoin (Claiming every move is based on an Elon Musk comment). Although most of their headlines are based on the need to have readers click on an article—I do think there are some smart journalists who don’t get what we do. Joe Weisenthal (Bloomberg) being one of them. Maybe we should invite him over—he doesn’t think DeFi is doing anything to change the “real world” — besides trading coins between each other…

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I really like how useful this is to both sides. We get to hear from people on the other side and Maker gets great exposure to audiences who haven’t heard of us yet. That’s exactly what we need to get more people onboard.

Nice job @PaperImperium

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