We are back this week with the second episode of The SimpleMoney Podcast. We seem to have developed a trend - of starting with a broad macroeconomic/financial term and concept, and following it by a segment where we talk smack about banks. This isn't intentional. We really like banks and appreciate what the banking system has done for humanity. But when it gets too much, or becomes not right, it falls to us to call out these institutions.
In Part I, we discuss bitcoin and what the current cryptocurrency fad means for the philosophical implications of "money." Can bitcoin ever replace what we call "real" money today? How should an investor decide whether or not to invest in bitcoin today, given its volatility, but also its lucrative, albeit unlikely possibility of making lots of money?
In Part II, we delve deeper into the issue of persistent and relentless salespeople from banks, peddling an assortment of financial wares such as life insurance policies and mutual funds. Detailed research shows that every human being who has ever received a telemarketing call has slammed the phone receiver at least once in their lives, fuelled by anger and irritation.
But surely these telecallers and persistent salespeople can't enjoy being treated like this? Then why do they do it? We speak with SEBI registered Research Analyst Hemindra Hazari, a relentless crusader in the fight to get India's private banks to stop misselling products to unsuspecting customers. Our conversation reveals a problem whose source lies at the very top: with senior management executives who are driven by the lure of stock values. This culture has permeated to every corner of some of India's banks, leaving disgruntled and confused customers, along with a host of unfair financial practices.
- Something EP by Broke Free, licensed under Creative Commons
"Missing (From "Vande Mataram")" by A. R. Rahman, under the Fair Use Clause
SimpleMoney doesn't track Bitcoin yet, but we do a pretty good job at tracking mutual funds and equities. Go ahead and give us a shot!