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With Kristan and Simo in the studio today, is one Mr Unathi Kamlana, Commissioner of the FCSA.  Joining Kristan is Nocturnal Unwrap's newest co-host, Simo Zulu.  They begin by touching on Mr Kamlana's time with the FSCA, as its first Commissioner. They proceed to discuss the FSCA's transformation strategies and how it has been subject to public consultation before its interim period. Kristan discusses the regulatory burden on intermediaries, and Simo talks about criticism from the Freedom Market Foundation during the introduction of the Twin Peaks model. Lastly, Mr Kamlana elaborates on the financial literacy drive that has been launched and general consumer education, before they round off with how the COVID-19 pandemic has affected his first year at the helm.  Tune in to listen to what they had to say. Have a listen to Phila's previous podcast with Mr Unathi Kamlana as well: https://anchor.fm/novamentis/episodes/12-Unathi-Kamlana-Commissioner--Financial-Sector-Conduct-Authority-on-the-Twin-Peaks-Regulatory-Model-e17g2es

Joining Phila today, to discuss the differences between collectivist and individualist modes of social and economic thinking, is the Chief Operating Officer of Stellenbosch University, Professor Stan du Plessis. Prof du Plessis attained his Master of Philosophy in Economics from the University of Cambridge and his PhD in Economics from Stellenbosch University. Professor du Plessis begins by telling us about his own intellectual development - about how he went from "an extremely committed Marxist" to a pro-market economist. He carefully annunciates what led him the way of Karl Marx and how, as a first-year student in 1991, the prospect of a new South Africa excited him. He goes on to talk about his time in London; about studying Marx and Ricardo, under one of the great Marxist scholars of the world at the time, John Eatwell. Yet despite this, it was a short, 140-paged Dostoevsky novel, Notes from Underground, that left him a "very confused ex-Marxist". Phila and Professor du Plessis proceed to unpack the contents of "Notes from Underground" and discuss briefly, the core idea of the book. In addition to this, they explore the valuable contributions contained in Adam Smith's "The Theory of Moral Sentiments", Karl Popper's "The Open Society and its Enemies" as well as Friedrich Hayek's "Constitution of Liberty". Tune in to hear what they have to say. Professor du Plessis' Ted Talk: https://www.youtube.com/watch?v=FUEVZEbNW1g Phila and Prof du Plessis' previous podcasts: Sound and unsound money: https://open.spotify.com/episode/6S8jtduWKC2HDDn28JahuL?si=8gA4u5MfSjah0Wbtkl6yCQ Monetary policy and money printing: https://open.spotify.com/episode/5iBu4V1snVdOnneyRs2TYI?si=W552aJmwRIG-6-e_fOxxfg

Joining Phila today is Nick Hudson. Nick, in addition to being one of the co-founders of PANDA - as well as its spokesperson - is an actuary, investor and private equity specialist. He joins Phila today to, firstly, talk about his ban from Twitter. Briefly thereafter, Nick opens up about some of the books that had a lasting intellectual (and moral) impression on him. Foremost among these books is David Deutsh's "The Beginning of Infinity".  Nick talks about what he found appealing about the book and how it has helped him conceptualise and properly ground his own scientific reasoning. To expand on the Popperianism found Deutsch's book, Phila and Nick talk about how religion fits into this paradigm, with references made to CS Lewis' "Mere Christianity". Lastly, Nick talks about how the pandemic has reminded him of the insights found in Alexandr Solzhenitsyn's "Gulag Archipelago" and why telling the truth is so important to him. Nick goes on to explain why he thinks speaking up against what one believes to be wrong is a moral obligation and that going along with what one is deeply suspicious of only works to aid and abet the corrupt. Tune in to hear what Nick and Phila have to say.

Joining me today - and making a second appearance on the podcast - is the Chief Operating Officer of Stellenbosch University, Professor Stan du Plessis. Prof du Plessis attained his Master of Philosophy in Economics from the University of Cambridge and his PhD in Economics from Stellenbosch University. He joins me today to explore the concepts of sound and unsound money. We explore the evolution of money and the societal changes that have accompanied it. We talk about how technological advancements have changed the way we think about money and have caused the usurpation of what Saifedean Ammous - the author of The Bitcoin Standard - referred to as "primitive moneys". Furthermore, we explore some of the contributions made by some of the biggest and most influential names in economics, which include but are not limited to John Maynard Keynes, Milton Friedman and Friedrich Hayek. In discussing inflationism, we zoom in on Hayek's "A tiger by the tale" allegory as well as Keynes' "The economic consequences of the peace" about which Prof du Plessis says "is one of those cases where an economist really nailed it. He really got it exactly right". Moreover, we talk about the need for - and rationale of - economic decentralisation, as laid out by Hayek in "The use of knowledge in society" and then segue into a brief discussion about cryptocurrencies and the opportunities - as well as the problems - it introduces.

I am joined today (albeit virtually) by the Democratic Alliance's Head of Policy, Gwen Ngwenya. We talk about the effects of the covid-19 pandemic and the response to it, which has compounded, and now threatens to push over the edge, South Africa's fragile economy. We zoom in on the unemployment crisis described by some economists as a "bloodbath". Further, we talk about what can be done in the meantime to ameliorate this bleak outlook. Moreover, we briefly talk about the pending local government elections and what they mean (and do not mean). Gwen clarifies and distinguishes local government elections from national government elections and gives pointers about what to look out for. She further responds to questions posed about the DA and its governance record

If you have been following the news over the past few months, you will - in all likelihood - have heard about, or witnessed your own organisation enforce, mandatory vaccinations. Joining me to discuss this is Nick Hudson. Nick is an actuary, investor, as well as the co-founder of PANDA. We talk about the distinction (or the lack thereof) between vaccine passports and vaccine mandates as well as whether these are commensurate with liberty. We moreover talk about the consequences of lockdowns and mask mandates, as well as the "lives vs profit" foundation upon which they find fertile tinder. Nick offers his thoughts on this.

Joining me for today's conversation is the Commissioner of the Financial Sector Conduct Authority (FSCA), Unathi Kamlana. We talk about the twin peaks regulatory model, what gave rise to it, as well as the purpose that it serves. We first zoom in on the Prudential Authority - in which Unathi did some time - and then later, the FSCA. Unathi explains the necessity of banking requirements - which are both qualitative and quantitative in nature - and why they are necessary "barriers to entry".  "Banks are systemically important", he argues. Barriers to entry in a sector as fragile as banking is necessary. Unathi further expands on the FSCA's mandate that is centred around the protection of consumers. He explains the FSCA's decision to fine Viceroy, citing market integrity as one of the main reasons. Moreover, he talks about the funding model of the FSCA. Furthermore, we talk about the FSCA's drive for financial education. South Africans generally have a bad relationship with money. This, in part, can be laid at the lack of education on the subject matter. Unathi argues that this leaves people susceptible to scams. It was at this point that the subject of Bitcoin came up.

I am joined today by Russell Lamberti. Russell is the founder and managing director of ETM Macro Advisors, as well as one of the authors of, "When Money Destroys Nations". We discuss, among other things, the methodology that distinguishes the Austrian school of economics from other, more mainstream economic schools. We then briefly look at the economists that built and popularized the school i.e., Carl Menger, Eugen Bohm-Bawerk, Ludwig von Mises, Friedrich Hayek and Murray Rothbard. We further talk about the Great Depression, the Subprime Derivative Crisis, the Mediterranean Sovereign Debt Crisis and Zimbabwe's hyperinflation. Moreover, we talk about the global financial system and its fragilities, and why sound money alternatives are gaining greater acceptance, especially in developing economies. More info on Mises and his methods: https://mises.org/wire/mises-and-his-methods

After being in KZN for three weeks, unable to return to Stellenbosch when I had intended to, I am finally back in Stellenbosch podcasting again. My time at home sadly coincided with a very unfortunate set of events that laid bare - for the whole world to see - our fragilities as a country. Joining me to discuss these events is the leader of the Democratic Alliance, John Steenhuisen. We discuss the causes, response, and consequences of the civil unrest that broke out in parts of the country. We then look at what this means for South Africa going forward. How will it affect our international image, fiscus, and political stability? The lives lost, the racial tensions, and the impact on the economy are discussed. John then proposes alternative solutions.

Joining me for today's conversation is Nick Hudson. Nick is an actuary, investor, private equity specialist, and - more importantly for this conversation - one of the cofounders of "Pandemics - data and Analytics", or PANDA. Nick's name has surged to prominence since March 2020 through his efforts to balance the prevailing Covid-19 narrative. I begin by asking him how he's doing, and how he has not yet suffered the kind of career implosion that many vocal, contrarian professionals have suffered. Further, we discuss the origins of PANDA and the relative international success that the organisation has enjoyed. We then explore what it is that caused this success. Nick dismembers the factual (or afactual) basis upon which the prevailing narrative is predicated. He further, and more convincingly, argues against the logic (or lack thereof) and efficacy of lockdowns. We also talk about the vaccines, and the concerns that Nick has about them. Finally, we talk briefly about The Great Barrington Declaration and PANDA’s simpler version of the document which contains solutions, including how we can open up society, following a focused protection approach.

Joining me for today's conversation is Professor Stan du Plessis. Prof du Plessis attained his master of philosophy in economics from the University of Cambridge and his PhD in economics from the University of Stellenbosch, where he currently serves as the chief operating officer and professor of macroeconomics. We explore the role played by monetary policy and central banks in stabilising (or destabilising) financial markets. "I am what some would call a 'hard money' guy. That is, I do not think that we should use the central banks to solve all of society's problems, but there are some instances where it is necessary for central banks to step in", says Prof du Plessis. He goes on to support why he thinks this, drawing references from the Great Depression of the 1930's and the Financial Crisis of 2008. What role do prices play in an economy and what are the economic and social costs of price distortions? Why do central banks have the sole right to issue currencies? Should central banks be in the business of setting lending rates, at all? Should we be worried about money printing? These are some of the questions that we explore. The COVID-19 pandemic has also put monetary policy under the microscope. Many central banks around the world have followed expansionary monetary trajectories with the hopes of stimulating the economies over which they preside. Yet, at the same time people have lost their jobs and production has slowed down (and for certain periods grinded to a complete halt), food prices and asset prices have risen concurrently. In other words, the rich have gotten richer, while the food that poorer people rely on for subsistence, has been becoming increasingly unaffordable. What may have caused this? Is it as simple as putting the blame squarely on the shoulders of monetary policy, or are there other, more nuanced explanations? I have a few more questions for Prof du Plessis. Questions to which he has some very insightful and thought-provoking responses.

Joining me for today's conversation is Elze-Mari Thorne. Elze-Mari is a lecturer at the University of Stellenbosch, a Certified Financial Planner, and a member of the Financial Planning Institute of Southern Africa. She holds a postgraduate diploma in Financial Planning and a Master of Business Administration (MBA). In addition, she has more than 15 years of experience in the financial services industry, both local and abroad. We are talking today about the crucially important issue of financial education (or the dire lack thereof). Financial planning seems to be one of the few issues about which everybody is expected to be knowledgeable once they step into the working world, but an issue nonetheless that very few people ever get taught about. The lack of financial education in schools is a recipe for disaster. What it means is that the responsibility of educating young people about finance is delegated to their parents and other members of society (who themselves have no deep knowledge about finances) - thereby prolonging the cycle of financial illiteracy. The conversation with Elze-Mari is to be seen as a discussion, rather than an interview. We touch on family responsibility, budgets, debt, emergency funds, investments and wealth creation, taxation, insurance, and even, marriage. Further, we talk about the role of psychology and how we may need to learn to tame our instincts, if we are to be financially successful. Indeed, few conversation - if any - are more important. We identify and talk very briefly about the available assistance, in the form of financial planners. And crucially, how working with one is not only for those with a lot of money. One cannot overstate the need for greater financial education in schools.