InFi: the Future of Finance

29:46

Ep. 156: Are Fed Rate Hikes Inflationary? Pushing...

InFi: the Future of Finance ·

2026/10/02

Murphy dissects the recent commentary from analyst Luke Gromen. Murphy argues that Luke was inconsistent, in that his arguments about interest expense (with higher rates) would mean Fed rate cuts would be Deflationary, and yet Luke argued they weren't. Murphy thinks we should distinguish fiscal from monetary policy at a conceptual level, even though in practice they can be intertwined. Related: - https://www.youtube.com/watch?v=9dUte6c7ZcM Watch the video version of this episode here:

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28:31

Ep. 155: Kevin Warsh Plays the Sphinx in Latest Press...

InFi: the Future of Finance ·

2026/09/25

Murphy analyzes several clips from the Q&A session of the new Fed chair's latest press conference, arguing that Warsh was refusing to give any assistance to the public on what to expect from the Fed in the future. Bob then explains why the hike surprised so many analysts: with ~$32 trillion in debt held by the public, fiscal dominance theory said the Fed couldn't hike, and why this move may have been symbolic to prove Fed independence from political pressure. Related: -

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39:59

Ep. 154: AI Threats: Real vs. Phony, with Perry Metzger

InFi: the Future of Finance ·

2026/09/18

Perry Metzger returns to the podcast, this time to bring a dose of cynicism to the recent warnings coming from Anthropic employees, including CEO Dario Amodei. Metzger agrees that evil humans can use new technology in nefarious ways, but argues that the good guys likewise need to develop AI tools for defensive purposes. Watch the video version of this episode here: https://youtu.be/i4BGahWluWE Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram:

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32:03

Ep. 153: Unpacking Trump's Trade Embargo Warning to...

InFi: the Future of Finance ·

2026/09/11

Intrigued by the combination, Bob analysis a recent Trump social media post in which he warned the Fed to cut interest rates, or else Trump would eliminate trade with those countries who currently enjoy a trade surplus with the US. Bob concludes that in general such a drastic move would raise US interest rates, but perversely if it caused a global financial crash, it conceivably could keep rates low on US Treasuries specifically. Watch the video version of this episode here:

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20:11

Ep. 152: The Pros and Cons of the Treasury Long-Bond...

InFi: the Future of Finance ·

2026/09/04

Bob explains that Treasury Secretary Bessent's policy of buying back long-dated securities will lower the government's interest expense in the short run, but makes it more vulnerable to future rate hikes. Watch the video version of this episode here: https://youtu.be/x_luY04QT18 Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at:

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24:33

Ep. 151: Yen Bailout Shows the Failure of Keynesian...

InFi: the Future of Finance ·

2026/08/21

Murphy explains the massive joint US/Japan operations to prop up the yen and draws lessons for the US. In short, massive government deficits and central bank easy money are not the path to prosperity. Murphy breaks down Japan's recent currency and bond market moves, including the yen falling to a 40-year low against the U.S. dollar and the intervention by Japanese authorities in the foreign exchange market. He reviews the scale of that intervention, compares it with earlier episodes, and explains

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57:11

Ep. 150: Can Capitalism Work in a Finite World?

InFi: the Future of Finance ·

2026/08/14

A popular objection is that capitalism requires exponential growth, which is incompatible with a finite world. Bob critiques both premises. Related: - https://infineo.ai/resources/blog/Expectations-About-the-Future-Affect-Price-Today-Part-2-of-3 - https://mises.org/mises-daily/law-property-rights-and-air-pollution - https://www.youtube.com/watch?v=5CWHfPlXX14 - https://www.youtube.com/watch?v=U-zjYmq6B-c Watch the video version of this episode here: https://youtu.be/Je1UDsXFk3M Subscribe

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29:06

Ep. 149: The Connection Between Government Budget...

InFi: the Future of Finance ·

2026/08/07

Bob uses a recent tweet from Steve Keen to weigh in on an old controversy. Government deficits don't cause price inflation per se, but they often encourage the central bank to create more money, which is inflationary. The distinction matters: a deficit is a fiscal phenomenon, but the inflation mechanism requires monetary policy—specifically, central bank accommodation of government borrowing. Bob unpacks why Keynesians, Austrians, and MMT economists talk past each other on this question, and where

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24:33

Ep. 148: Why Mamdani Marts Will Hurt Poor New Yorkers

InFi: the Future of Finance ·

2026/07/31

Bob explains the numerous flaws with NYC Mayor Mamdani's proposal to have government-run grocery stores sell key items at 30% below retail. Bob also explains the problem with a popular meme asking why people pay taxes if the government can just print money. MAMDANI MARTS — WHAT COULD GO WRONG? NYC Mayor Mamdani wants to open five city-run grocery stores selling a core set of items at 30% below typical retail prices. It sounds like a win for struggling New Yorkers — but the economics tell a very

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39:05

Ep. 147: The Myth of "Wildcat Banks" in US History

InFi: the Future of Finance ·

2026/07/24

Bob draws on three clips from a popular video discussing the banking sector, pre- and post-Fed. Bob dispels myths about the "wildcat" banks of the so-called Free Banking era, and shows that the Fed clearly led to more economic instability (as well as inflation). Related: - https://www.youtube.com/watch?v=z4uTadogtI4 - https://infineo.ai/podcast/100 - https://www.minneapolisfed.org/research/quarterly-review/free-banking-wildcat-banking-and-shinplasters -

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46:25

Ep. 146: Alex Tabarrok on the Economic Analysis of Crime

InFi: the Future of Finance ·

2026/07/17

Alex Tabarrok is a professor of economics at George Mason University. He joins Bob to discuss the problems with the typical economic analysis of crime, which (in the hands of Gary Becker) advocated increasing the punishment to bolster deterrence. Related: - https://marginalrevolution.com/marginalrevolution/2015/09/what-was-gary-beckers-biggest-mistake.html - https://www.goodreads.com/author/quotes/17285.Jane_Jacobs Watch the video version of this episode here: https://youtu.be/KQYX_hTk3Tg

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29:53

Ep. 145: Sorry Mamdani, Rent Control Doesn't Work

InFi: the Future of Finance ·

2026/07/10

Spurred by the NYC rent freeze, Bob lays out the theory and history of rent control, explaining why it hurts the people it ostensibly is supposed to help. He also shows why a "revisionist" paper actually confirms the textbook arguments against rent control. Related: - https://mason.gmu.edu/~atabarro/RentControl - https://sci-hub.st/10.1016/j.jue.2006.06.004 Watch the video version of this episode here: https://youtu.be/oxfG95w8x2Q Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow

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33:10

Ep. 144: The Gold Standard Did NOT Cause the Great...

InFi: the Future of Finance ·

2026/07/03

Using the 2009 testimony of Brad DeLong as a foil, Bob defends the gold standard from the typical accusation that it was responsible for the Great Depression. Bob shows that even after leaving gold, both the UK and US remain mired with double-digit unemployment for longer than prior depressions had lasted. Related: - https://infineo.ai/resources/blog/Did-Gold-Cause-the-Great-Depression - https://fee.org/articles/the-depression-youve-never-heard-of-1920-1921 Watch the video version of this

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24:56

Ep. 143: Alan Greenspan's Fed Fueled the Housing Bubble

InFi: the Future of Finance ·

2026/06/26

Bob presents several lines of evidence to argue that the Federal Reserve under Alan Greenspan helped fuel the housing bubble in the early to mid-2000s. He also pushes back against the claim that it was an Asian savings glut to blame. Related: - https://cdn.mises.org/understanding_money_mechanics_with_cover_image_attached.pdf - https://mises.org/mises-daily/did-fed-or-asian-saving-cause-housing-bubble - https://mises.org/mises-daily/krugmans-call-housing-bubble -

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46:23

Ep. 142: Detailing Dube's Dubious Defense of Minimum...

InFi: the Future of Finance ·

2026/06/19

Bob goes through a recent Substack post (adapted from his book) by Arin Dube, a leading economist pushing for aggressive minimum wage hikes. Bob shows the weaknesses in Dube's results, and gives an alternative measure detailing just how chilling minimum wage hikes may be on teen employment. Related: - https://arindube.substack.com/p/a-minimum-wage-natural-experiment - https://www.econlib.org/library/Columns/y2014/Murphyminimumwage.html Watch the video version of this episode here:

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29:14

Ep. 141: Shaking Up Brent Johnson's Commentary on the...

InFi: the Future of Finance ·

2026/06/12

Brent Johnson (of "dollar milkshake" fame) recently posted a video relaying the Triffin Dilemma to our current monetary situation. Bob pushes back, arguing that there was no problem with the dollar being tied to gold, and that its days as the global reserve are fewer than Brent thinks. Related: - https://www.youtube.com/watch?v=Bej0-8r8Rmk - https://www.youtube.com/watch?v=0ghdkFVKBW4 - https://www.youtube.com/watch?v=19xHntPZVvg - https://mises.org/mises-daily/putting-country-back-gold Watch

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30:23

Ep. 140: Lecture 1: Introduction to Money

InFi: the Future of Finance ·

2026/06/05

Bob launches a 10-part series on money, banking, insurance, and blockchain. This initial lecture gives the definition of money, explains the properties of a good money, and surveys various monies through history. Related: - https://miltonfriedman.hoover.org/internal/media/dispatcher/215061/full - https://courses.cit.cornell.edu/econ4260/out/radford_pow.pdf - https://cdn.mises.org/Study%20Guide%20to%20the%20Theory%20of%20Money%20and%20Credit_2.pdf -

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46:47

Ep. 139: Richard Murphy Is Wrong About Government Debt

InFi: the Future of Finance ·

2026/05/29

Bob points out the numerous fallacies in a recent video arguing government debt is simply national savings. Related: - https://www.youtube.com/watch?v=rMfCrIhlAm8 - https://infineo.ai/resources/blog/richard-murphy-on-the-economics-of-christmas - https://www.youtube.com/watch?v=1Fj0zRmEWYc - https://infineo.ai/resources/blog/a-biz-vs-a-bank-vs-the-fed-part-3-of-3 - https://www.econlib.org/library/Columns/y2015/Murphywardebt.html Watch the video version of this episode here:

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32:10

Ep. 138: Robert Rapier Explains US Refiners Could...

InFi: the Future of Finance ·

2026/05/22

Robert Rapier has decades of experience in fossil and biofuels, including six years with ConocoPhillips. He joins Bob to correct a common misconception about US refineries. Although in practice they focus on heavy sour crude (sourced from Canada, Mexico, Saudi Arabia, and Venezuela), they are physically capable of handling the light sweet produced by the fracking boom. It just makes more economic sense to export those barrels abroad and fetch a higher price. Rapier's analysis gives a better

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22:20

Ep. 137: The Fed's Reverse Repos Solve Two Puzzles of...

InFi: the Future of Finance ·

2026/05/15

Bob draws on the work of Robert Aro to show how the Fed's massive reverse repo operations explain (a) why consumer price inflation wasn't worse after Covid and (b) why the Fed's tightening hasn't yet led to a market crash. Related: - https://mises.org/podcasts/human-action-podcast/robert-aro-feds-reverse-repo-trick - https://infineo.ai/podcast/71 Watch the video version of this episode here: https://youtu.be/AZkKEYa3O0g Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on

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