In episode 19 of my podcast Where Eagles Dare, I had a dialogue with blockchain guru Dr. David Lee and discussed BSN, Ant Chain, Libra, Red Date and an urgent need among investors to think about a new modern monetary theory. A good listen. 35 minutes. 1. Public-Private partnerships are full of conflicts of interests, but that is the accepted method for central banks as they roll out central bank coins. The US has Libra. China has BSN and Red Date with Ant Chain as a duopoly? Euro has a smattering of projects with little clarity. 2. The banks globally are broken. They need to be corralled into a massive “asset management company” while deposit cash liabilities morph into digital currency distributed either through wholesale or retail means. 3. BSN is a truly interoperable system which uses a large array of crypto currencies (up to 20). Libra is now parroting the BSN language — let’s see. 4. Ant will eventually have to create a more interoperable system in 3-5 years but has time.   5. Investors need to change tack and see where the private partners of central banks are as the CBDC coins are rolled out.  6. SMEs are the key to redistributing credit away from large corporate and SOEs and to the real engine of growth — small enterprises. Large corporations AND banks incapable of change are tipping over one by one. Their stock prices are dead in the water — conglomerates in HK, Singapore, PRC SOEs. The digitization of the world will be accelerated very rapidly as central banks finally wake up and have FOMO.  7. I conclude that the big banks are the biggest losers to all of this. Cryptocurrencies have a new lease on life. Get in the digital lane. The Paper-based analog world is well and truly dead.