Episode 112

Published on:

3rd Feb 2023

Crypto Banks, Amateurs are Beating Wall Street and Paycheck-to-Paycheck

According to an index of building occupancies in 10 major metro areas by security firm Kastle Systems, more than half of workers went to the office last week, the first time that return-to-office rates crossed 50% of their pre-pandemic levels. All of the cities tracked by the company — including San Francisco, Chicago and Austin, Texas — reached return-to-office levels of 40% or above, which was also a post-pandemic first.

In this episode of The Higher Standard, Chris and Saied examine this and many other stories and attempt to cut through the spin and the rhetoric to get at the truth.

They discuss comments from Starwood Capital's Barry Sternlicht, who said that, if Jerome Powell continues down the path that we're going, he's going to drive the economy into a horrible situation because the government won't be able to afford to pay its bills, and why that thinking is flawed.

Chris and Saied look at a survey by Pymnts.com and Lending Club, which indicates that the share of Americans who say they live paycheck-to-paycheck climbed last year to 64%, and most of the new arrivals in that category were earning more than $100,000 a year.

They also offer some thoughts on the Fed's decision to reject Wyoming-based crypto-centric bank Custodia's application to become a member of the central bank's exclusive payment system, saying that the firm's proposed business plan, and focus on crypto assets, presented significant safety and soundness risks.

Join Chris and Saied for this fascinating and informative conversation.


What You’ll Learn in this Show:

  • Why the Fed rejected Custodia's application to join the US payment system.
  • Why the market's reactions are disconnected from what the Fed is trying to accomplish.
  • The five types of treasury securities
  • The importance of staying true to your budget when looking for a home.
  • And so much more...


"Fed rejects crypto bank’s application to join U.S. payment system" (article from MarketWatch)

"Inflation Fell but so Did Spending. The Economic Signals Are Both Good and Bad" (article from Barron's)

"National home prices have further to fall, say 24 leading housing market researchers—while 5 firms think prices have bottomed" (article from Fortune)

"Wall Street Is Losing Out to Amateur Buyers in the Housing Slump" (article from Bloomberg)

"US offices reach 50% occupancy for the first time since Covid" (Bloomberg Business via Instagram)

"More Americans are living paycheque-to-paycheque, even those on more than $100,000" (Bloomberg Business via Instagram)

Show artwork for The Higher Standard

About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your host; Chris Naghibi is here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

Follow Chris here as he posts daily: https://www.instagram.com/chrisnaghibi

About your host

Profile picture for Christopher Naghibi

Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.