The Rasheed Griffith Show podcast

1:16:32

Send us a text "Taipei won't have any formal western diplomatic ties in 5 years." This ominous prediction underscores the shift of trade and soft power in the Americas. On this episode we explore Taiwan's dwindling influence in the Caribbean and America's reactionary tactics to its own international relations complacency which has left the door wide open for its largest rival. How does America plan to counteract China's foothold on its doorstep and what do these knee jerk policies mean for the vulnerable economies of Latin America and the Caribbean?…

The Rasheed Griffith Show

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51. Is Javier Milei Really Libertarian - Carlos Rodríguez Braun 49:09

9 weeks ago49:09

49:09

Send us a text In this no-nonsense conversation, Professor Carlos Rodríguez Braun — author of El Pensamiento de Milei — helps us decipher the often confusing worldview of Argentina’s president, Javier Milei. We go through the philosophical paths that took Milei from admiring Chicago-school thinkers to openly praising Rothbard’s anarcho-capitalism, and we examine the often jarring contradictions revealed by his alliances with figures like Bolsonaro, Abascal, and Meloni. Key Points Anarcho-Capitalist or Just Radical? How Milei’s shifting stances on economic policy blur the lines between classical liberalism, minarchism, and outright anarchism. Bolsonaro, Abascal, & Trump—Strange Bedfellows? Why a self-styled free trader cozies up to staunch protectionists and far-right politicians in pursuit of a new global “culture war.” Social Policy Paradoxes Milei rails against abortion as murder but leans libertarian on marriage (at least on the surface) —yet his conservative circle often contradicts these freedoms. Culture War Gamble Will Milei’s aggressive rhetoric on “gender ideology” undercut Argentina’s hard-won social freedoms and destabilize his own economic reforms? The Future of Liberalism in Argentina With the nation’s midterm elections looming, can Milei deliver on taming inflation and sparking growth or risk discrediting liberalism for a generation?…

The Rasheed Griffith Show

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50. Dancehall Music is Absurd, and We love It 41:17

15 weeks ago41:17

41:17

Send us a text Nostalgia can be a powerful force. This is extremely evident in the musings of our discussion on Jamaican Dancehall. Join us for a tea-time chat on Reggae’s vulgar, and culturally rebellious cousin. Dancehall is a rather vibrant and colorful subgenre of Reggae rooted deeply in Caribbean culture, but the similarities are surface-level at best. The genre is criticized for its overt vulgarity, hypersexualization, and at times, problematic lyrics which have exported varying levels of lawlessness from Jamaica to its neighbors and beyond. Besides its lasting impact on language through the introduction of crude and derogatory terms like “Chi Chi Man” to the greater Caribbean, Dancehall has also been a potent vector for homophobia and other forms of discrimination throughout the region. Are we bashing it? Yes. Will we stop singing it? No. Herein lies the great contradiction. Despite the criticisms leveled above, dancehall is recognized as an enduring and significant part of Caribbean identity and is firmly entrenched in contemporary depictions of “Caribbeana.” In this episode, we explore if it is possible to reconcile these attributes, and the genre’s ironic transition from a tool of oppression, to a tool of protest against itself.…

The Rasheed Griffith Show

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49. We Are Black Britain - Lord Sewell 49:24

17 weeks ago49:24

49:24

Send us a text In this episode, Rasheed is joined by Lord Sewell of the British House of Lords, for an insightful discussion on education, race, and the socio-political dynamics in the UK and the Caribbean. They explore the myths of systemic discrimination, and the evolving narratives surrounding immigration, colonialism, and identity. Mind the Gap Lord Sewell highlights the challenges Afro-Caribbean students face in the UK, emphasizing the impact of family structure and socioeconomic conditions on academic performance. His program, Generating Genius, seeks to address gaps in STEM education by providing long-term mentorship to nurture talent. It’s Complicated We critique broad racial generalizations, emphasizing intra-group differences. Lord Sewell draws comparisons between Caribbean and African diasporas in the UK and the U.S., attributing disparities in performance to cultural and structural factors rather than race alone. Legacy Here we examine the persistence of colonial narratives in the Caribbean and the UK. Lord Sewell surmises most anti-colonial movements and discussions are performative, and calls for embracing the positive aspects of British influence while addressing present challenges more pragmatically.…

The Rasheed Griffith Show

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48. Why Dollarization Works in Ecuador - Francisco Zalles 1:07:37

19 weeks ago1:07:37

1:07:37

Send us a text Full transcript at www.cpsi.media Francisco Zalles, Ecuadorian Economist and Professor gives us an in-depth account of Ecuador’s journey to dollarization. A series of unfortunate events… The economic crisis of the late 1990s, marked by a banking collapse due to external shocks (El Niño triggered the underperformance of the banana industry), poor fiscal policies, and mismanagement by the Central Bank, paved the way for drastic monetary reform in Ecuador. A good policy is a good policy President Jamil Mahuad's sudden decision to dollarize in 2000, at a time of extreme political and economic instability, was a last-ditch effort to save his administration. Despite limited planning, and many efforts to undermine sound monetary governance, the policy gained immediate popularity and stabilized the economy by halting inflation and restoring confidence. Dollarization means development Francisco sees dollarization not only as a stabilization mechanism but as a tool for institutional reform. It anchors private property rights over money, minimizes political interference, and enhances productivity by reducing inflationary uncertainty. There is no more democratic private property than money. And building institutions is a long-term process. Dollarization is a very fast and efficient way to introduce an inclusive institution. - Fancisco Zalles The future Francisco’s dream? The closure of the Central Bank of Ecuador. This would solidify the benefits of dollarization. He underscores its potential as a safeguard against populism and a driver of sustainable economic growth.…

The Rasheed Griffith Show

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47. Blueprint for Development: Housing in Madrid - Diego Sánchez de la Cruz 1:12:46

20 weeks ago1:12:46

1:12:46

Send us a text While Barcelona scapegoats tourism for its housing shortage, Madrid is setting the standard for development with initiatives to improve its housing stock. The “capital of capitalism” is once again employing proven liberal governance techniques to position itself as a premier city in Europe. Diego Sanchez de la Cruz returns to the show to discuss policies being enacted to expand living options for the fastest-growing city in Spain. By abolishing oppressive rent controls, improving mortgage accessibility, and unlocking new zoning for construction, Madrid is acknowledging the challenges that come with being the city of choice for many new residents and nomads, seeking new opportunities that also strengthen the city’s workforce and future-proof it for growth. Spain’s dynamic political landscape provides fascinating insight into juxtaposed methods of administration and poignant lessons for Latin America and the Caribbean.…

The Rasheed Griffith Show

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46. The Philosophy Of Reggae - A Guided Tour 50:35

22 weeks ago50:35

50:35

Send us a text It's not all love, peace and brotherhood and if you're looking for Bob Marley, you're out of luck there too. Join CPSI director Rasheed Griffith and podcast producer Shem Best for an unfiltered foray into reggae, its historical starting point, political ramifications and cultural proliferation throughout the region and the world. Reggae is first and foremost a vehicle of protest. We explore the societal context which forced the hands of the Rastafarians, producing anthems of anti-establishment sentiment that resonated with a growing movement which was finding itself increasingly at odds with a post-colonial government. What is "Babylon" and why are so many of these songs calling for us to burn it down? A greater understanding of rasta ideologies is required and we've got a basic crash course right here. Japanese Rastas may appear to be an improbable cultural anomaly, but it's a much more fitting match than you think. Reggae has become a global phenomenon, thus bringing the fight to seemingly unlikely locales. How has its message evolved over time and how effective is it today in a much more culturally mature and homogenous world.…

The Rasheed Griffith Show

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45. The Politics of Panamá (I) - José Pérez Barboni 1:00:29

24 weeks ago1:00:29

1:00:29

Send us a text At 25 years of age, José Pérez Barboni is one of the youngest members of Panama’s National Assembly. Join us for a thought-provoking discussion on the intricate state of politics and governance on the isthmus and the peculiar system of elections that continues to shape the development of one of Latin America’s most pivotal economies. More than a canal… Panama, the proverbial (and literal) bridge of the Americas, is not defined simply by the infamous trans-oceanic marvel that is the Panama Canal. The country of just over 4 million sits at the forefront of an immigration crisis brought on by the veritable collapse of its neighbor Venezuela. Barboni, who is intimately familiar with the state of affairs, gives insights on what is being done to alleviate the strain on Panama’s resources, as well as bring regional and international attention to the precarious balance between humanitarian efforts and diplomatic action on the largest exodus in the modern history of the continent. Fool me once! Say no to colonial trade zones. José gives the rundown on local opposition to a mining deal and the true underlying cause of the early 2023 riots that paralyzed Panama. An aversion to repetition of the unfair conditions of the historic Panama Canal Zone and public frustration with a continued lack of government transparency fueled month-long protests which resulted in the rejection of an environmentally dubious mining contract. The future could be bright. How can we bring younger minds and opinions into governing roles? José shares his thought process and journey to the National Assembly. What can the rest of Latin America and the Caribbean learn from Panama’s prominent independent candidate culture and how has this shaped José’s party, Otro Camino?…

The Rasheed Griffith Show

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44. Britain's Misguided Shame - Alexander Chula 1:01:59

26 weeks ago1:01:59

1:01:59

Send us a text The role of the Church in dismantling the slave trade must not be understated. This is just one of many hard truths we examine on this episode featuring British writer and medical doctor, Alexander Chula. From his book "Goodbye Dr Banda: Lessons for the West from a Small African Country", Dr. Chula guides us through harmful misconceptions on Western culture. Western culture, the Classics and many of its trappings were not simply tools of subjugation. To frame them solely as such is to apply a reductionist view of a much broader and complex history where they were also tools of enlightenment and civilization building. In his book, Dr Chula introduces one such prolific character who recognized the utility of Western culture and used it to enrich and spotlight his own country's literary prowess. Malawi's first prime minister, Hastings Banda serves as the focal point for understanding the true role of Western influence via colonialism in Central Africa. His own history and initiatives on return to his homeland provide insight on the contributions of the Church of England, not via force but through countless missionaries who sought to bring development to the region by appealing to humanity. Fast forward to the present, and these contributions have been almost entirely forgotten or overlooked. In its place is a regrettable sense of guilt, guiding the narrative solely on emotion, rather than empirical evidence and manifesting via counterproductive reparations movements. How did we get here?…

The Rasheed Griffith Show

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43. Henry Oliver - The Common Reader 51:18

32 weeks ago51:18

51:18

Send us a text Would V.S. Naipaul have made a good venture capitalist? Join us for a whirlwind episode with prolific British writer, Henry Oliver as we tackle thought-provoking inquiries surrounding the age of heroes, cities as imaginary spaces, the tragedy of unique talent and, the late bloomer. Imaginary Cities To best describe a place you hold dear, you must leave it. Or perhaps you find it oppressive to your ideas. Again, you must leave it. Henry describes cities written by icons like Joyce as meta-physical spaces, distinct from their geographical analogs, but often more real. We all experience a city differently, but those who step out of it can best perceive and concretize those collective experiences. Has the age of heroes ended? We theorize that the Great Man Theory of History may be to blame, or rather its rejection. Henry attributes this shift to a backlash against the idea that history is shaped solely by individual actors, emphasizing the importance of systems and broader forces. This "impersonalisation" of history from the common man has removed the reverence once attributed to various figures and barred new ones from joining their ranks. But perhaps it is time to give the relevant thinkers their laurels once more. The Tragedy of Talent The right people, with the right ideas, at the right time, can change the course of history. Take Paul Kagame, the savior of modern Rwanda. Can we replicate his genius elsewhere or even again within Rwanda to continue his legacy of forward momentum for one of Africa's fastest-developing economies? What does the theory of personalities have to tell us about the rare harmonization of variables necessary to produce such development? And what of talent, whose capabilities present themselves later in life? Are we doing a disservice to the workforce by disregarding the late-bloomer? Shouldn't the collective experiences of those who find calling in non-traditional phases of life count towards their contribution potential within organizations?…

The Rasheed Griffith Show

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42. The End Of Gay Rights 45:43

35 weeks ago45:43

45:43

Send us a text Full transcript on cpsi.media. The gay “movement” in the Caribbean has stalled and we think it’s because they haven’t done their due diligence. The various rights groups throughout the region have skipped the necessary steps in the evolutionary progression of gay concepts in the Caribbean. They’ve hastily pushed to emulate their more developed American and European colleagues and now risk a paralyzing backlash that could set gay rights in the region back for generations. How have we arrived at this critical impasse? We think the gay drain is to blame. Brain drain is a term coined to describe educated individuals who emigrate away from the Caribbean to seek out better opportunities for their degrees and fields of study. It’s no surprise that these emigrants are also, very gay. The “D.C gay” as we call them in this episode is any gay man or woman who has graduated from fighting for rights, to enjoying them. Whether they were on the streets with placard to bring them to being, or simply worked to escape the Caribbean region and join a more comfortable life abroad, these individuals have exited the conversation entirely. With these moderate fighters gone from the equation, more radical personalities who often see the progress abroad and seek to copy it at home are all that’s left. And this overwhelming body of extremes is the new face of the gay rights movement in the Caribbean. The role models all but gone. Western societies are now at a completely different stage of the rights conversation, one that has been unnecessarily obfuscated by the introduction of concepts like trans rights, that are are not synonymous with the gay rights that were fought for earlier. This dilution of the gay rights movement via the addition of more and more letters now paints a picture of a slippery slope that conservative developing parts of the world are terrified of and keen to avoid. In our modern environment that is becoming hostile to external changes perceived as threats to culture, what paths are there to progress?…

The Rasheed Griffith Show

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41. Rethinking Sovereignty in the Caribbean - Ivelaw Griffith 1:01:07

39 weeks ago1:01:07

1:01:07

Send us a text The traditional definition of sovereignty is not afforded to the small island states of the Caribbean and should be redefined in our newly evolved and globalized world. Ivelaw Griffith joins us for another insightful discussion of the political balance of the Caribbean, this time in the context of true independence versus perceived independence. "Who is really paying the bills?" Dr. Griffith brings attention to the honesty of politicians and their willingness to have difficult talks with the population on the true nature of financing and governance in a region that is still deeply connected and in some cases vertically integrated with their colonial parents. "Where has the political willpower gone?" The stagnation of the socio-political landscape of the Caribbean has dulled the electorate's curiosity to the idea of competent and dynamic governance. Interest in necessary unions like CARICOM and their continued improvement are falling by the wayside in the minds of more recent generations. Why? Without answering these pertinent questions, the most basic pillars of stability in the Caribbean remain shaky, especially regarding immigration, crime, and resource allocation.…

The Rasheed Griffith Show

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40. Ghost Economy: What Now For Venezuela? - Parsifal D'Sola 44:51

40 weeks ago44:51

44:51

Send us a text Economic collapse, the largest native exodus in Latin American history, and border woes with Guyana. In this episode, we sit with political analyst Parsifal D'Sola to unravel the last three decades of Venezuela's tumultuous history and the path ahead for the embattled former juggernaut of South America. Venezuela has fallen from its prized position as the most influential economy on the continent. Its financial influence is now only felt in the massive burden imposed by the mass migration of its citizens away from their homeland. 30% of the country has now fled, leaving all but a few cities like Caracas as centers of any viable economic activity. While Parsifal acknowledges some stability being established, he also posits that this is mostly due to the country hitting rock bottom. After all, you can only go up from absolute ruin. The political landscape, now stunted by incumbent President Maduro is facing a slim chance of revival via María Corina Machado, who despite being banned from running, has named her alternate candidate Corina Yoris on a platform that poses a credible threat to the Maduro hegemony. But what exactly has kept Maduro in power throughout Venezuela's precipitous decline? A cabal of business owners who have benefitted from nepotism may be a key cornerstone of the administration's continued existence. Alternate sources of income to prop up the ailing government and the legitimacy granted by close ties to Beijing also complicate any efforts to turn the country's political fortunes around. In this episode, we examine the current state of Venezuela and try to ascertain where the country could go from here.…

The Rasheed Griffith Show

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39. Rihanna is Deeper Than You 55:01

42 weeks ago55:01

55:01

Send us a text And we mean that. Rihanna's cultural relevance (despite her foray into cosmetics and fashion) remains deeply rooted in Caribbean society. Behind the generic summer beats and a few questionable lyrics, lies a regional thinker who has created 8 memorable albums, each chronicling her own evolution and development as an artist. Join us for another frank musical discussion, journeying from "Pon De Replay" to "Work", as we cover Rihanna's cultural influence and contributions to the Caribbean's sociopolitical landscape. This episode contains some adult language and references. Listener discretion is advised.…

The Rasheed Griffith Show

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38. Milei and the Libertarian Populist Experiment - Iván Carrino 47:51

44 weeks ago47:51

47:51

Send us a text How do we categorize the Milei administration and its policies? Today on the show, we're joined by Argentinian economist Iván Carrino in a deep dive into political movements throughout the country's history, from the authoritarian economics of Juan Domingo Perón to the controversial interventionism of the Kirchners. Can Milei's own brand of Libertarian populism work to revitalize Argentina? Argentina has fallen from lofty heights, and all eyes are on Javier Milei to right the ship. Once having the highest GDP per capita in Latin America, Argentina is now eclipsed by Chile, Panama, Paraguay, and Uruguay. We explore the ideologies over successive governments that have eroded Argentina's stability, namely the mantra of "spend, spend, spend" that has ballooned the country's deficits in what has been deemed a decadent approach to economics. Iván takes us through the evolution of "La casta," a seemingly ever-changing metaphor used by incumbent political parties to provide direction for public outrage, which Milei's administration has flipped yet maintained its effectiveness to the voters. Milei's most recent victory, "Ley Bases," a collection of laws aimed at fiscal correction through privatization, shows there is hope yet for his congressional capabilities, which were in question in no small due to the hyper-conservative ideologies of his colleagues. The same ideologies could clash with Milei's strident Libertarianism. And what of his aspirations for dollarization in the early days of the campaign trail? They are on the back burner for now. Milei's current objective is balancing Argentina's fiscal budget and controlling inflation. Then, once those previous US dollars can be shored up to back the peso, dollarization may finally return to the fore.…

The Rasheed Griffith Show

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37. The 'Avatar' Effect: Charter City Do's and Don'ts - Patri Friedman 38:13

46 weeks ago38:13

38:13

Send us a text On this episode, we're joined by Patri Friedman of Pronomos Capital to discuss the more practical facets of building a charter city. What are the building blocks of a viable charter city project? At what milestone can a charter city be deemed successful, and what common mistakes can a nascent city stumble upon? Friedman himself is in favour of corporate governance, but also expands on and compares alternative methods of administration and explores the pitfalls that could lead to the undesired discontent or even rebellion of a charter city, what he creatively calls the 'Avatar Effect' - after the events between the colonists and native inhabitants of James Cameron's fictional movie series. Freidman warns that while no system is perfect, the key is not to enact drastic or sweeping changes that could leave sizable portions of the city's population unhappy, which would lead to a quick undoing. At what point does a charter city earn its title? The consensus varies as the industry evolves, however, Patri suggests that at least 10% of the legislation needs to diverge from that of the host state, in favor of more dynamic development within the charter city. The clearest success story today is Prospera in Honduras, which meets the criteria of not just substantial legislative self-determination, but sound legal standing for its existence that is enshrined in the host country's constitution. He is clear, however, that a charter city's goal is neither independence nor sovereignty from the host state. So what are the goals? Higher earnings, a better state of life, and economic contribution to the greater state, directly through the addition of resources or indirectly through the migration of skill and talent. A charter city should spur the development of various industries, like Endeavor in Kenya which is now responsible for a sizable portion of the country's coffee cultivation. Patri argues that the attributes of a charter city are not easily transplanted onto existing settlements as it could displace and disenfranchise those who already live there. But perhaps some of those very attributes are just what the micro-states of the Caribbean need in some capacity to breathe new life into their stalled socio-economic engines.…

The Rasheed Griffith Show

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36. Spain's Fractured Politics - Daniel Lacalle 46:46

46 weeks ago46:46

46:46

Send us a text In a previous episode ( Madrid: the Capital of Capitalism ), we explored the nature of governance in Spain's capital. However, the bigger picture for the largest country on the Iberian peninsula is one of political turmoil and deadlock. Economist Daniel Lacalle joins us for a thought-provoking discussion and a somewhat cautionary tale for the Caribbean region. The current political stalemate stems from the 2017 Catalonia Declaration of Independence, which Lacalle describes as more of an unconstitutional pantomime of an actual coup d'état. Despite having no legal or even historical basis for independence, Lacalle notes the knock effects that this event has had on Spanish politics even to this day. The parties who engineered and participated in the coup have been allowed to form a coalition government which is unsurprisingly and consistently at loggerheads with the ideologically dissimilar ruling party it is now bonded with. A major point of contention is a recently passed amnesty law that allows the most egregious offenders, to be pardoned for sedition and thus remain in power. The result is a stagnant legislative and executive arm of government that is paralyzed by infighting. How does Spain's prosperity persist against these odds? Lacalle posits that the country is not where it should be economically. And that the government's growth reports are mostly deceptive, hiding inflationary gains following the downturn from the COVID-19 pandemic. This resembles the reporting from some Caribbean countries, keen on maintaining the delusion of a rebound after the hard-hitting effects of global tourism shutdowns. The key takeaway is the air of distraction from the real economic and political thorns in Spain's proverbial sides and the lengths to which a discordant government will go, to deflect from these issues. Once again, how can the Caribbean region learn from the pitfalls of political fracturing that can grossly impede the progress of even the world's largest economies?…

The Rasheed Griffith Show

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35. Caribbean Debt Restructuring and Climate Finance - Thomas Laryea 28:36

48 weeks ago28:36

28:36

Send us a text On this episode of the show, Rasheed is joined by international lawyer Thomas Laryea, who specializes in the mediation process for sovereign debt restructuring. As a senior lawyer with the IMF, Thomas holds a unique vantage point at the tables of the negotiation between state debtors and creditors when financial instability requires a reevaluation of ongoing agreements. The Caribbean is no stranger to Laryea's field, with several members having undergone their own restructuring processes. Of particular note is Suriname's own recent restructuring, which came under scrutiny in the public eye for it's long-winded execution and apparent delays brought about by the largest creditor, China. Thomas explores the intricacies of of the negotiation process, an outlines factors that could lead to the perception of overdrawn negotiations. What makes a good or bad deal? There's no one size-fits all for restructuring. Sovereign debt restructuring is handled case-by-case. Dynamic solutions must be brought to the table to bring each party as close as possible to their perceived conditions for a win. The negotiations must also account for future investment opportunities and ideally provide new vehicles for additional financing in the long term. Climate change poses a significant threat to the Caribbean region with many territories lacking the necessary financing to implement infrastructural and policy changes needed to weather the upcoming crises. Here, Thomas offers advice for governments seeking funding solutions across both private and public liquidity pools. The climate conundrum will be a broad challenge for small island states, and broad solutions will therefore be required to meet that challenge.…

The Rasheed Griffith Show

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34. Tea Time Discourse: The Rise of Chairman Mottley - Shem Best 1:49:20

50 weeks ago1:49:20

1:49:20

Send us a text Navigate the Barbadian political landscape with Rasheed Griffith and CPSI Podcast Producer Shem Best. In this episode, we discuss the evolution and decline of governance on the island, starting with one of its most prolific Prime Ministers, Owen Arthur. What tipped the scales for the David Thompson administration's rise after over a decade of BLP rule? What disastrous decisions paved the way for Mottley's landslide victory in 2018? Barbados' Westminster-style government structure has created one of the world's most stable democracies with over three centuries of an uninterrupted parliament (the 3rd oldest in the Western Hemisphere). However, its two-party arrangement has also generated predictable levels of stagnation throughout all levels of leadership which can result in knee-jerk reactions from the electorate, easily swayed by domestic and international pressures. We explore milestones in industry and policymaking that have produced one of the most tumultuous political environments the island has experienced since the early years of independence. From self-harming fiscal and monetary legislation to the resulting physical deterioration of the island's infrastructure and the compounding shocks of international events, join us in this two-part series on how the Gem of the Caribbean lost its luster. (All over afternoon tea)…

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33. The Caribbean's Technical Debt - Niel Harper 35:29

1 year ago35:29

35:29

Send us a text Where does Caribbean tech infrastructure stand today? Join Cybersecurity expert Neil Harper as we investigate the slowdown in innovation and standards adoption that could further erode the region's competitiveness and digital integrity. Could 5G benefit the Caribbean? Neil says yes, outlining the surface benefits of the latest in cellular data technologies and how they could provide resilience in a disaster-prone region. 5G offers the opportunity to bolster telecommunications infrastructure with a smaller footprint that is less susceptible to natural phenomena like hurricanes. What about security? The Caribbean has become a breeding ground for nefarious cyber activity, owing to a failure to adopt more stringent policies to protect its citizen's data. With the digitization of entire industries underway, a more systematic and meaningful approach to how information is handled, both at the business and legislative levels, will be required.…

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32. America's Tech Advantage and the Dangers of Regulatory Overstep - Shane Glynn 56:19

1 year ago56:19

56:19

Send us a text What lessons can we learn from the current tech regulation climate in the United States? CPSI Director Shane Glynn joins us for a great discussion on efforts to reign in the juggernauts of the technology sector and the market factors driving the latest wave of scrutiny over household brands like TikTok and Amazon. The Caribbean may not be a major player in global information and technology, but it is a notable customer and beneficiary. Social media proliferation in the region facilitates the dissemination of news and politicians have jumped on the latest trends to reach a younger and more socially active electorate. Facebook, WhatsApp, Instagram, and TikTok allow ideas and movements to propagate throughout the region in mere seconds. The importance of these platforms has not gone unnoticed by US regulatory bodies. The courts argue that the ubiquity of these public forums has crossed the threshold for which they can operate without increased oversight. In the case of TikTok for example, the geopolitical tension between Washington and Beijing has brought the popular video-sharing network within the crosshairs of Congress. Shane discusses the broader implications of recent congressional hearings and the shift it could cause in the greater regulatory landscape. America's competitive and technological edge is often said to be driven by its open markets and de-regulatory practices. A leader in innovation and information access, The U.S. is powered by a thriving tech sector that largely functions without the fear of government incursion. But could this edge be dulled by a renewed focus on censorship? What could this increased oversight mean for privacy, free speech, and accessibility for the satellite regions of the Caribbean and greater Americas?…

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How to Dollarize Argentina, Exactly - Nicolás Cachanosky 52:43

1 year ago52:43

52:43

Send us a text In this fascinating episode, we dive into a more nuanced discussion for implementing dollarization in Argentina. Nicolás Cachanosky joins our Executive Director, Rasheed Griffith, for a detailed and technical rundown of the steps needed to transition the beleaguered economy to the US Dollar. Firstly, there's the equilibrium rate. How many pesos would be needed to redeem one US dollar? How would this price be established? The government could remove the country's capital controls, which have been used to maintain an inflated and unsustainable rate. This would allow the market to determine a new rate at which the country would dollarize. Secondly, you must dollarize the bank deposits. The checking and savings accounts of citizens and businesses must be converted to USD. This is the most straightforward step, as this form of money is purely digital. Bank deposits also act as a method of converting the physical currency into dollars when withdrawals are processed and redeemed in USD. Thirdly, there's the dollarization of the central bank. Argentina's central bank is insolvent. Government bonds would be a viable solution if Argentina's trust rating on global markets weren't firmly in junk territory. To get around this problem, Cachanosky suggests using a special purpose vehicle, transferable bonds, equities, and other financial instruments based on assets in the government's portfolio, such as pensions and health insurance. None of this can happen in a vacuum. Measures will also need to be taken to ensure that the policy changes are concrete enough to withstand a regime change. If successful, it could cause a cascade of financial reform across the Southern Cone and usher in a new financial era in Latin America.…

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The Golden Passport - Kristin Surak 41:22

1 year ago41:22

41:22

Send us a text Citizenship by Investment or CBI programs tend to get a bad rap due to the misconceptions surrounding how they work and how they came to be. Dr Kristin Surak shares some valuable insights on the origins of "passports for sale" and goes into more depth on the true meaning of citizenship through the eyes of the people and the state. Several islands in the Caribbean offer prominent CBI opportunities. It is estimated that more than 40% of Dominica's government revenue is derived from their own CBI program, financing wide-scale infrastructure projects across the island, such as additions to their green energy generation and a new international airport. To truly understand the lucrative nature of CBIs, we'll explore the historical context behind their inception, the motivations behind those who invest in these programs, the suppliers involved, and the complexities of successfully executing such a multifaceted process. A passport may not necessarily mean citizenship. Dr. Surak posits that to grasp the motivations behind CBIs, a better understanding of modern state and personhood concepts is required - what exactly does a foreign passport offer, and how does it differ from the perks of naturalization? The history of CBI programs also sheds light on the driving factors behind their persistence. For example, Hong Kong's handover to China fueled much of the initial success of many CBI programs in the Caribbean and Canada. A passport can be an assurance or fail-safe against government-induced insecurity, evident by the number of Hong Kongers who took up the offer. But are these programs also a backdoor for unsavory individuals to bypass global restrictions? Not necessarily. The screening process for many of these programs is vigorous, even more so than Visa approval from countries like the USA. Bad apples are not unheard of, but this is not an indictment on the industry as a whole. These programs are the lifeblood of several smaller economies and are a legitimate source of revenue for vulnerable small island states. The question should not be if CBIs are harmful because they aren't, but how best they could be utilized to enable development in the countries that rely on them.…

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Stabilizing The Future — John Cochrane 46:32

1 year ago46:32

46:32

Send us a text Should Canada dollarize? Should sovereign debt be modeled as risk-free? Why is monetarism unfit for modern financial markets? John Cochrane, Senior Fellow at the Hoover Institute and blogger at The Grumpy Economist, joins Rasheed on the podcast. They discuss core themes in macroeconomics and why financial tools are underutilized in stabilizing economies to make them more conducive for growth. Links and Recommendations Toward a Run-free Financial System by John H. Cochrane Fiscal Histories by John H. Cochrane The Fiscal Theory of the Price Level by John H. Cochrane Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks by Robert Shiller Indexed Units of Account : Theory and Assessment of Historical Experience by Robert Shiller Central Banking 101 by Joseph Wang (also, previous podcast with Joseph) Money Changes Everything : How Finance Made Civilization Possible by William Goetzmann…

The Rasheed Griffith Show

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Madrid: the Capital of Capitalism — Diego Sánchez de la Cruz 53:29

1 year ago53:29

53:29

Send us a text If you were asked to rank cities based on their level of libertarian policy implementation, it is very unlikely that at the top of the list, you would intuitively put Madrid. Of course, liberalism, classical liberalism, libertarianism, or capitalism are not usually thought of as being abundant in European cities. But on today's episode, we are going to be discussing with Diego Sánchez de la Cruz his newest book, "Liberalismo a la Madrileña" (Madrid-style Liberalism). How and why Madrid has become the region in Spain that grows the most, generates the most income, offers the best public services, collects the most, and lowers the most taxes. Madrid achieved all of this while implementing the most radical liberal reforms in any European city in the last 15 years. How exactly did Madrid become the Capital of Capitalism in Spain? Book Link Liberalismo a la Madrileña , Diego Sánchez de la Cruz…

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The Inside Story of Dollarization in El Salvador — Manuel Hinds 1:08:57

1 year ago1:08:57

1:08:57

Send us a text Former Minister of Finance Manuel Hinds joins us for an eye-opening account of how El Salvador dollarized. We get down to the nitty-gritty of monetary policy and prudent governance in what should serve as a poignant lesson for the Caribbean region. Dollarization in Latin America is back in the economic headlights. The policy is simple. Encourage the use of US dollars as a unit of an account in a country other than the USA to aid the fiscal stabilization and long-term growth of that country, yet from all corners, you have professional economists slinging unjustified objections to dollarization. Always in these cases, they never gave actual examples of countries that have dollarized. How did they do it? What happened on the ground? What were the empirical results? Instead, they retreat into abstract theorization. Through this discussion based on the world as it is, and not mere abstraction, it can be seen that dollarization is a simple, elegant, and powerful policy that any economy in Latin America and the Caribbean should adopt.…

The Rasheed Griffith Show

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Chaufa 2023 Review 47:05

1 year ago47:05

47:05

Send us a text

The Rasheed Griffith Show

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Guyana, Oil and the Resource Curse - Collin Constantine 34:46

1 year ago34:46

34:46

Send us a text Talent will make or break a band, a company, and even a country. We're joined by Dr Collin Constantine to explore the requirements for successful growth, primarily in the context of Guyana, the region's potential rising star economy. Does Georgetown possess the necessary talent to bolster its social and political institutions or will they languish beneath a wave of uneven wealth distribution, similar to the likes of West African oil states? Guyana's political history and economy are in a complicated state of disrepair. Racial and class tensions have resulted in unsteady leadership as various interests jostle for control at every level of government. Collin argues that an influx of fortunes from the recently discovered oil reserves could widen the divide. Will Guyana's newfound financial weight create a unifying voice within the union or further exacerbate its irrelevance? CARICOM's viability and utility have been brought into question, with Jamaica even threatening to abandon the initiative at the turn of the decade. A shift in power to any single state could undermine the balance and dynamic of the Caribbean Community. What about the local currency? Surely the government would seek to address a weak Guyanese dollar given its nascent energy sector, poised to bring significant foreign exchange to the country. Dr Constantine explains that while the local currency should be replaced with USD it will be a mainstay for the foreseeable future. The coming decade will be an interesting period of development for Guyana and the greater Caribbean region.…

The Rasheed Griffith Show

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The Northern Silence — Andrew Mellor 39:36

1 year ago39:36

39:36

Send us a text This episode takes us deeper into the idea of art as part of the welfare state. Music journalist and critic, Andrew Mellor is our guide to the historical nuances that fuel the Nordic's ongoing domination of the classical music space. Finland boasts the highest number of conductors per capita in the world. This has not happened by chance. The unique way of talent selection at the Sibelius Academy plays a large role in this. The country exports its prowess to almost every corner of the classical music space. In the UK, Every BBC orchestra is headed by a Finn. Iceland, a population smaller than some Caribbean countries, has crafted itself into a music powerhouse. The geography of the Nordics has played a remarkable role in shaping their high art and music-focused culture. Harsh winters and foreboding landscapes greatly influence one's outlook on life. This has made them exceptional leaders, diplomats, and, of course, conductors. The proliferation of the Nordic brand of music, forged by geographical circumstances, is not dissimilar from that of the Caribbean, save for a critical difference. The governments of the Nordics saw the potential in this cultural output, not just as a revenue source, but as a way to better the everyday life of their citizens. The Caribbean music scene has all but diminished. What can be learned from the Nordics? Andrew Mellor on X (formerly Twitter) Rasheed Griffith on X (formerly Twitter) Reading Recommendations: Andrew's book : The Northern Silence: Journeys in Nordic Music and Culture Subscribe on cpsi.media…

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The Dilemma of Reform in Argentina — Bruno Binetti 50:57

1 year ago50:57

50:57

Send us a text A return to Argentina. On this episode of the Rasheed Griffith Show, we focus again on the beleaguered South American economy and discuss Javier Milei's meteoric rise to claim victory in the recent elections. Our guest, Argentinian political analyst Bruno Binetti, explores the socio-economic conditions that paved the way for Milei's win and the harsh recovery journey ahead for what was once one of the continent's financial powerhouses. The name of the game is change. Binetti posits that the electorate grew tired of policies, particularly under "Kirchnerism", which proved ineffective in righting the country's foundering economy during the crisis at the turn of the century. A disillusioned population saw solace in the charismatic Milei whose platform eschewed both centrism and Kirchnerism. His message admonished all politicians for being selfish while positioning himself as one for the people. Argentina's current predicament results from in-flexible government interventionism whereby the ruling party did not adjust course or adapt to global trends, leading to a depressed economy and successive defaults. This has spooked investors and barred Argentina from lucrative global financial markets, a situation not so dissimilar from many islands in the Caribbean. It is the reason for heads of state like Barbados' PM Motley, broadly campaigning for financial access under the guise of "climate fairness". Buenos Aires has attempted some reforms before, but not to the degree or tempo necessary to course correct before an administration is removed from power. Milei has promised a more drastic shift, one which in his inauguration speech, he described as inevitable measures, evoking comparisons to Margaret Thatcher's "tough medicine" rhetoric. The reforms required will be far-reaching and no doubt initiate a period of great discomfort for the people of Argentina. The coming years will be a litmus test for the effectiveness of Milei's policies. Bruno Binetti on X (formerly Twitter) Rasheed Griffith on X (formerly Twitter) Reading Recommendations: La Moneda En El Aire : Conversaciones sobre la argentina y su historia de futuros imprevisibles - Pablo Gerchunoff y Roy Hora…

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Better Money in Latin America — Lawrence White 48:22

1 year ago48:22

48:22

Send us a text From gold to Bitcoin. In this episode, we are joined by Professor Lawrence White to explore a comparative history of money, starting with the era of the gold standard. We trace the origins of bank notes, private money, and the underpinnings (and shortfalls) of monetary systems across Latin America and the Caribbean. Our discussion begins with dollarization rumblings across Latin America, namely Argentina. "In a way, dollarization is a bit like going back to the gold standard in the 19th century. You're adopting external money that's a world currency. This has the effect of constraining the budget of the home country, as they can't just issue more money to finance their debts and have to be more fiscally prudent." Latin America is no stranger to dollarization. Panamá has been dollarized since 1904 and is the only country in Latin America where you can have a 30-year mortgage, a testament to the stability of their economic landscape. Post-elections, it would appear that President Milei's plans for the Central Bank of Argentina are on hold. The coming decade will prove to be an interesting one for the country's financial landscape and either a success or a cautionary tale for the region. Similar to the last century's gold standard, is the idea of Bitcoin as a reserve currency. Circulation of the digital token began in 2009, and it was even made legal tender through legislation by El Salvador in 2021. Could Bitcoin take on a similar role as conventional money? The Bitcoin network has proven its robustness in terms of being a payment network. The system itself can't be censored, i.e., no single body like a central bank can prohibit or block transactions. However, Bitcoin's bid to become a global currency like gold or the US dollar is hamstrung by its purchasing power volatility. Bitcoin's primary use is as a means of investment, rather than a true payment vehicle for the masses as a result. So, what about other digital alternatives? What if a Central Bank digitized the local currency? Professor Lawrence argues that CBDCs (Central Bank Digital Currency) are a threat to privacy and some basic freedoms that cash facilitates. A CBDC could also be a logistics nightmare in terms of retail payment services. You, a citizen, could hold a bank account with the Federal Reserve, which has no tangible experience in fulfilling the necessary services. So, for now, it'll be dollars and a mix of both cash and the ones and zeroes on bank ledgers that already make up the majority of all money on Earth. Better Money: Gold, Fiat or Bitcoin by Lawrence White Professor Lawrence White on X (formerly Twitter) Rasheed Griffith on X (formerly Twitter)…

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How Iceland Changed The World — Egill Bjarnason 24:34

1 year ago24:34

24:34

Send us a text "1 in 10 Icelanders write books." This curiously repeated statistic, (accuracy notwithstanding) stems from Iceland's proud literary heritage. The North Atlantic island nation is renowned for its contributions to the arts, gender norms, and governance. This episode's guest, Egill Bjarnason (a writer himself) gives us some insight into the origins of this cultural dynamism, the modern policies that foster its continuation, and the resulting influence beyond Iceland across the globe. At just over 370,000, Iceland's population is surpassed by some Caribbean countries (Trinidad & Tobago is 1.3 million). Like the Caribbean, in the art world, the Nordic nation punches well above its weight. Today, Icelandic works are a common sight on lists like the NYT Bestsellers. Egill surmises that this propensity for storytelling is rooted in the realities of the harsh Icelandic winter. From as far back as the early Norse settlers, stories were the main entertainment during the months when everyone was stuck indoors. This skill has been passed down and cherished through many generations and continues today in the form of book writing. In Reykjavík, one might visit a bookstore and come upon books written by a neighbor, a colleague, or any other unassuming member of the community. How is it that not only has the tradition continued, but remained so accessible that anyone can put pen to paper and have their work published? Egill says that's where government grants come in. The Icelandic government acknowledges the importance of the arts to its citizens, through financial assistance and incentives for would-be novelists, musicians, and more. In essence, art forms a core part of the famous Nordic Welfare State. In 1980, Iceland made history as the first country in the world to elect a female head of state democratically. Vigdís Finnbogadóttir, served as president from 1980-1996. She initially ran simply to show that a woman could run a political campaign and did not expect to win. Today, Iceland tops global rankings in terms of gender equality, orientation equality, and other human rights fronts. Egill attributes this to the global financial crisis of 2008, in which Iceland was a pivotal player in the financial downturn. In the aftermath, the country took steps to reform the business sector, starting with the hiring processes from the bottom up. Diversity and anti-discrimination policies were introduced, aimed to reform and prevent a repeat of what was perceived as a non-ideal social environment. These policies have evolved and have positioned Iceland as one of the most progressive countries in this space. Iceland's global influence can be seen in politics all over. A deep cultural history that aids in molding and directing modern policy could serve as a guide or inspiration for countries in the Caribbean. Iceland is proof that size is irrelevant to your international footprint in the arts, governance, and more - a lesson that warrants reiteration for the Caribbean and its leadership. How Iceland Changed the World - Egill Bjarnason Egill Bjarnason on X (formerly Twitter) Rasheed Griffith on X (formerly Twitter)…

The Rasheed Griffith Show

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Analysing the Guyana-Venezuela Border Crisis — Ivelaw Griffith 34:57

1 year ago34:57

34:57

Send us a text Why is Venezuela on the verbal offensive and threatening to carve off more than two-thirds of Guyana's land area? The answer is wrapped in a tale almost 200 years in the making. Dr. Ivelaw Griffith takes us on an insightful journey from the nascent years of the Bolivarian Republic and its then-colonial neighbor, right up to today's war of words and saber rattling. Venezuela's initial claims to the Essequibo, the disputed territory, began as far back as 1841. During this period of nation-building, we see a fresh new republic eager to settle the lines between itself and British Guiana to the East. The British shared this sentiment and demarcated their claim with the help of Robert Schomburgk, a geographer who would give his name to the survey line which is still at the center of today's dispute. The Venezuela of yesteryear was much more ideologically aligned with the United States. Its objection to the British claim was bolstered by the assumption that as a staunch ally, Washington would eagerly lend support and aid them in curtailing London's expansionism, a la the Monroe Doctrine. This was not the case and the USA was initially much more indifferent to the cause than expected. Eventually, Uncle Sam would use bigger-army diplomacy to bring both Britain and Venezuela to the table to settle the row. What followed was a pivotal round of negotiations with elements of scandal. Neither party would leave happy and the accounts of under-the-table dealings paint a controversial image that serves as the backdrop for today's events. One negotiator went as far as to declare posthumously that Venezuela "got a raw deal", undermining the moral legitimacy of the resulting 1899 Harris Award. Join us on this episode as we unravel the nuances of that deal, give context to the Venezuelan propaganda machine, and explore the implications of a potential cascade effect for South America and the Caribbean Community. Reading: Oil And Bullyism: Venezuela Opens the Intimidation Playbook Again (part 1) Dr. Ivelaw Griffith Venezuela’s Latest Move In Its Waiting Game With Guyana (part 2) Dr. Ivelaw Griffith Oil and Bullyism: Venezuela Opens The Intimidation Playbook Again (part 3) Dr. Ivelaw Griffith Dr. Ivelaw Griffith on LinkedIn Rasheed Griffith on X (formerly Twitter)…

The Rasheed Griffith Show

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Growth and Talent in East Africa — Daniel Yu 36:27

1 year ago36:27

36:27

Send us a text Picture this: a tropical island, white sand beaches, bustling outdoor markets, and a burgeoning tech hub. It's not the Bahamas or Barbados. Instead, this episode takes us 11,000 kilometers away from the Caribbean, to Zanzibar, an autonomous archipelago of Tanzania and home of our guest Daniel Yu. The CEO of Wasoko, Africa's fastest-growing company in 2022, sits with Rasheed to discuss the ongoing political and social conditions that are positioning Zanzibar as a prime destination, not just for tourism but business as well. Talent is everything. The right people can make or break companies and even entire countries. Daniel gives a rundown of some of the positive developments that are making Tanzania the second most exciting African economy to watch (his first choice is Kenya). The current President of Zanzibar, Hussein Mwinyi has prioritized policies to encourage growth, from the structure of his government to the acquisition of the necessary expertise, be it local or the diaspora. Within Wasoko, Daniel has applied hiring practices that are more appropriate for the region, such as focusing less on raw credentials and paying attention to interpersonal skills and outward professionalism. He is also in favor of upward mobility, noting the progression of some employees from interns to managers, unseen almost anywhere else. At the industry level, Daniel discusses the influx of capital to e-commerce companies in East Africa and the tech sector in general. Wasoko, Daniel's company is a B2B e-commerce facilitator which seeks to connect the more informal small business landscape. The prevalence of his primary clients is noted to be a symptom of a lack of more structured economic opportunities and very closely mirrors the conditions in the Caribbean. In many ways, Zanzibar is a close analog to the islands of the Caribbean. It faces similar challenges which require diverse solutions. Tune into this fascinating episode where we talk about everything from the political landscape to workplace culture and gain valuable insights from a very unexpected locale. Daniel's Company Wasoko Daniel on LinkedIn Rasheed on X (formerly Twitter)…

The Rasheed Griffith Show

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Colonialism: A Moral Reckoning — Nigel Biggar 40:53

1 year ago40:53

40:53

Send us a text The British Empire was more than just colonialism and slavery. Framing it as such does a deep disservice to history, impedes progress in the present, and is an attempt to rewrite history in a manner that could endanger a stable future. Professor Nigel Biggar joins Rasheed for a thought-provoking discussion to give some ethical clarity to a tumultuous and complex period in the West's past. Slavery was not unique to the British Empire. They weren't the first, but they certainly made a concerted effort to be the last. The Empire would play host to truly regrettable events and conditions, but this should not invalidate one of its largest contributions to modern Western society, namely the abolition of slavery and the establishment of rudimentary human rights. Some proponents of the idea of a British Debt to the Caribbean have built entire arguments solely on the demonization of the Empire. These disingenuous arguments focus solely on the extracted commodities and willfully ignore the intangible benefits that are a tenet of our existence to this day. Strong social institutions, trusted legal systems, and a common moral identity are all directly the result of British influence across the continent. We must also never forget which side of history the Empire stood on during World War II and the price it paid to maintain all the aforementioned standards we now take for granted. In the context of the Caribbean, the remnants of the empire are visibly much more well-off than their proudly independent neighbors. Integration, rather than Balkanisation, was the key to their development, and for their endurance, they were rewarded with the Empire's evolution into a more cohesive and diverse international state. Professor Biggar explores the truths of the Empire and more in his book "Colonialism: A Moral Reckoning." Rasheed on X (formerly Twitter) Prof. Biggar's website…

The Rasheed Griffith Show

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The Techniques of Market Access — Federico Sequeda 1:03:24

1 year ago1:03:24

1:03:24

Send us a text What does it actually mean to "restructure" debt? Federico Sequeda, a portfolio manager at Morgan Stanley, discusses the intricacies of default with our CEO Rasheed Griffith. No two restructurings are the same and we get to the bottom of the how and why behind the hard conversations Caribbean governments find themselves in to attempt fiscal correction. The region is no stranger to default. A dearth of foreign investment and a glaring lack of projects to invest in may be to blame. Coupled with a faltering reputation due to lapses in accountability and a failure to produce attractive products and services on the international stage, the region finds itself struggling to compete. Federico argues that the Caribbean should take steps to attract more private foreign investment (FI) such as making more information on the health of the business landscape readily available. He gives some insight into the informal world of "roadshows" and how countries present themselves to be more lucrative to foreign investors. The governments of the Caribbean find themselves locked out of international lending markets after restructuring because they have abandoned their responsibilities: internally to fiscally course correct, and externally to diversify their sources of funding. Harmful rhetoric from leaders can also potentially scare off valuable FI. Join us for an exciting dive into this important reality for the region on this episode of Caribbean Progress. Recommended Reading Sovereign Defaults: The Price of Haircuts by Cruces and Trebesch Follow the Caribbean Progress Studies Institute on Substack…

The Rasheed Griffith Show

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Dollarization: A Solution For Argentina with Emilio Ocampo 36:11

2 years ago36:11

36:11

Send us a text Argentina is gearing up to make one of the most pivotal decisions in its economic recovery: dollarization. The country heads to the polls this weekend, and a win for presidential hopeful Javier Milei means a vote for the shift to an officially dollarized financial system. Emilio Ocampo is the man tasked by the potential new president to coordinate and execute the transition to the dollar . In this episode, he discusses the implications of this controversial move and the conditions that have brought one of Latin America's most culturally and economically significant players to this historical crossroads. Is sovereignty lost when you dollarise? Ocampo argues that the answer is an unequivocal “no.” If sovereignty is associated with having your own currency, then Argentina's is markedly weak. The peso has lost 90% of its value in just the short span of four years. Trust in the banking system is at an all-time low and continues to sink lower daily. Argentinians have already voted for the dollar across the informal economy. El Salvador and Ecuador have maintained dollarisation through political regimes that were less than welcoming to the concept. This is a testament to the transition as a viable and beneficial monetary policy backed by economic precedent and by the voters themselves. The only path to correction is drastic monetary and fiscal reform, neither feasible at this stage, as the most effective means of doing so have been exhausted. Dollarisation will not be a silver bullet, but it is a viable start for a platform of responsible governance. Join Rasheed and Emilio Ocampo in this insightful discussion on the future of Latin America's second-largest economy. Emilio's substack on dollarization in Argentina: Dolarización en Argentina Continue the conversation on X (Twitter) Rasheed Griffith: @rasheedguo Emilio Ocampo: @ocampo_emilio…

The Rasheed Griffith Show

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US Financial Sanctions and Dollar Dominance with Daniel McDowell 47:43

2 years ago47:43

47:43

Send us a text Is US Dollar dominance going away? No. Let's get that out of the way immediately. Rasheed Griffith and Daniel McDowell sit down for a much more serious and interesting conversation, grounded in the reality of economic and political history. The US dollar has been the reserve currency of the world since Bretton Woods in the 1940s. How did that come to be and what effects do sanctions have on the global standing of the greenback? "Demise of the dollar" predictions are nothing new, often surfacing during periods of economic turmoil and on the heels of what some perceive as "dollar weaponization" via US sanctions. The status of the dollar as the world's transactional currency was not some happenstance occurrence. De-regulation in the 1970s and access to one of the world's largest markets made the US dollar a de facto choice post-gold-decoupling. With its currency now connecting every major corner of the financial world, the Fed would need some way to keep tabs on the new Eurodollar ecosystem. They could directly intervene via swap lines but the optics in Congress could cause increased scrutiny, especially with regard to less reliable benefactors. That's why we have the IMF, a semi-autonomous organization originally created to maintain foreign exchange rates, now repurposed to extinguish monetary fires in the developing parts of the globe. It's not the only tool the United States has on hand for maintaining stability. Sanctions, despite their unsavory connotation, may just be one of the greatest financial innovations ever devised. With sanctions, Washington can exert control over pariah states and other actors, without the use of military force. These too have evolved over the years and have become much more intricate in their execution. Join our CEO and Dr McDowell as they unpack the finer details of this complex financial system, the various players, and the wider implications of their actions in this episode of Caribbean Progress. Resources Bucking the Buck: US Financial Sanctions and the International Backlash against the Dollar by Daniel McDowell Brother, Can You Spare a Billion?: The United States, the IMF and the International Lender of Last Resort by Daniel McDowell Contact info Daniel McDowell on X (formerly Twitter) Rasheed Griffith on X…

The Rasheed Griffith Show

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Promoting Trade and Investment in the Caribbean with Deodat Maharaj 40:34

2 years ago40:34

40:34

Send us a text The Caribbean's brand potential on the world stage is not being fully realized. Deodat Maharaj, Director of Caribbean Export, argues that several regional obstacles must be addressed before the Caribbean product can be unified and finally achieve true recognition globally. Firstly, there's financing for small and micro-businesses. They comprise more than 60% of the Caribbean's business economy. There's also the process of transitioning a business from an informal one, to a registered entity. The business environment of the region is difficult, with most of the countries ranking low in terms of ease of doing business. Secondly, as a climate-vulnerable region, the Caribbean will need to embrace new technologies and industries based on green initiatives. These industries are poised to generate hundreds of thousands of jobs if executed properly. New methods of agriculture that are more technologically integrated could also harden the local food supply chains and assist in climate resilience goals for the Caribbean. Thirdly, there's logistics. High travel and transport costs don't just dampen travel demand but make regional products more expensive than their externally imported counterparts. New air and sea options will be needed to better connect the import and export chains across the region. Join Rasheed and Mr. Maharaj for this interesting discussion on the future of "Brand Caribbean" and the toward path more lucrative market opportunities. Contact Info: Deodat Maharaj via Twitter Website: Caribbean Export Development Agency Rasheed Griffith via Twitter…

The Rasheed Griffith Show

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Singapore: Anglo-Chinese Capitalism with Bryan Cheang 25:57

2 years ago25:57

25:57

Send us a text British imperialism might be why Singapore has such high living standards today. The British were able to transplant their social norms and institutions more easily onto colonies like Singapore and Hong Kong. This, at least, is part of what Bryan Cheang argues in this episode of Caribbean Progress with Rasheed Griffith. But what made Singapore more receptive than others to British values, even within the British Empire itself? Modern Singapore's status as a democracy is contested in every political theory classroom. But how much of that is warranted? Its technocratic government’s push for economic growth and prosperity for everyone has made some trade-offs for its citizens, namely social freedoms and any notable culture of entrepreneurship or even perhaps a strong cultural identity. However, culture, as an institution, is not a one-size-fits-all. Jamaica, for example, suffers no lack of a globally recognized and marketed culture, yet its development pales in comparison to Singapore. Singapore's governance does not foster the same levels of innovation as larger countries with similar living standards, but has the bar been set unreasonably high? Lee Kuan Yew, the founding Prime Minister of Singapore, is said to have visited Jamaica to gain insight into developing his own country. But there is no firm evidence of this. The only significant ties between Singapore and the Caribbean are their shared colonial histories, yet these countries have diverged drastically. While Singapore is a crowning jewel in Southeast Asia, Jamaica, and the Caribbean languish in harmful stagnation and risk irrelevance. Are there any policy prescriptions that Caribbean countries can learn from Singapore? The answer may not be so clear. Join Bryan and Rasheed to find out. Resources: Institutions and Economic Development Markets, Ideas, and Bottom Up Change by Bryan Cheang and Tom G. Palmer Liberalism Unveiled: Forging a New Third Way in Singapore by Bryan Cheang and Donovan Choy Anglo-Chinese Capitalism in Hong Kong and Singapore: Origins, Reproduction & Divergence by Bryan Cheang Contacts: Bryan Cheang on LinkedIn Rasheed Griffith on X This podcast is produced by the Caribbean Progress Studies Institute (CPSI). Contact us at progress@cpsi.org…

The Rasheed Griffith Show

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The Balance Sheet at the Center of the World with Joseph Wang 43:55

2 years ago43:55

43:55

Send us a text Welcome back to Caribbean Progress with Rasheed Griffith, a podcast of CPSI . In this episode, I am joined by the insightful Joseph Wang, a former senior trader on the open market desk at the Federal Reserve Bank in New York. We discuss the expanding internationalization of the Fed and the steadfast dominance of the USD in global trade and finance across the dollar zone. Key Points 0:00 Internationalization of the Fed 9:40 Interest Rates in the Dollar Zone 14:13 Fed's Policy and the Eurodollar Market 20:02 US Dollar's Importance in Global Finance 29:53 Fed's Global Influence and Future Expansion 34:38 Transition From LIBOR to SOFR 39:49 Modeling Limitations in Economics Recommendations Get Joseph's excellent book Central Banking 101 and follow him on X (formerly Twitter) @FedGuy12 . You can also read some of Joseph's detailed analysis on more advanced topics on his blog www.fedguy.com Subscribe to CPSI Substack Follow Rasheed on X @rasheedguo…

The Rasheed Griffith Show

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The Cashless Revolution with Martin Chorzempa 34:18

2 years ago34:18

34:18

Send us a text From QQ Girls to CFIUS Reviews. In this episode Rasheed is joined by Martin Chorzempa, a Senior Fellow at the Peterson Institute, to discuss Martin's book The Cashless Revolution about China's reinvention of money and the future of America's dominant role in the global financial technology industry. Martin on X (formerly Twitter): @ChorzempaMartin Rasheed on X: @rasheedguo Visit our Substack at cpsi.media…

The Rasheed Griffith Show

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Modern Paraguay with Tomás Mandl 21:15

2 years ago21:15

21:15

Send us a text

The Rasheed Griffith Show

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American Puritans and the Invention of Modern Currency 38:47

2 years ago38:47

38:47

Send us a text This week, we discuss the fascinating chronicles of monetary evolution with Dr. Dror Goldberg, an economics scholar from the Open University of Israel. From the captivating myth of Yap stone money and its striking similarities to Bitcoin. We dive deep into the economic journey of the Massachusetts colonies in the 17th century. The 17th century Massachusetts, a bustling trade center marked by Puritan settlers and their innovative financial ideas, sets the stage for our discussion. We dissect its unique economic landscape, its connections with the Caribbean, and the unfolding of a monumental economic innovation - the advent of paper money. The intricacies of its inception and the critical role played by the Puritans. Fast-forward to the modern era, we unearth the origins of the Federal Open Market Committee, tying its genesis to the intricate checks and balances of the American Puritan system. We also probe the complex relationship between legal tender laws and the utilization of money. As we round off our conversation, we delve into the evolution of money from primitive seashells to modern digital payments. We touch upon Israel's financial independence journey in 1948 and explore Massachusetts' paper money reliance on being legal tender for taxes. Check out Dr. Goldberg's Website On X (Twitter): @DrorGoldberg…

The Rasheed Griffith Show

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Why The Caribbean Needs Charter Cities 39:15

2 years ago39:15