IRS

This week, we look at:

• How banks and financial advisors have failed to deliver on $1 trillion in capital appreciation for their clients over the last 12 years

• The role of bank regulators in the United States, and the tensions between state and federal agencies

• How the OCC is laying the groundwork for national banks to custody crypto assets, bank stablecoin reserves, run blockchain nodes, and use crypto payment networks

And instead of financial advisors or other CFAs guiding the retail market in good decision making, a newsfeed of *what’s popular* has driven Apple, Google, Tesla and the other John Galt hallucinations to the stratosphere. Don’t get us wrong. We love the robot as much as the next Fintech commentator. But it is clear to us that “the masses” are not being “advised”. And that the capital appreciation that matters — cementing the next trillion dollar networks for global future generations in work yet to emerge — is misunderstood and misrepresented by most financial professionals to their clients.