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b'Use code GUIDANCE250 to get $250 off tickets to Blockworks\\u2019 London Digital Asset Summit: https://blockworks.co/events/digital-asset-summit-2022-london/\\n\\n--\\nEvery day, trillions of dollars worth of interest rate derivatives are traded back and forth. And yet despite its stunning size today, 50 years ago the interest rate derivative complex did not exist at all. Today Jack interviews Dr. Richard Sandor, chairman and CEO of the American Financial Exchange (AFX), who is known as the \\u201cfather of financial futures\\u201d because he created the world\\u2019s first interest rate and bond futures in the 1970s. Sandor explains how the relentless inflation of the 1970s caused wild swings in interest rates that jeopardized financial stability, and how the financial futures he created helped tame (or at the very least, transfer) these risks.\\n\\nSandor argues that the London Interbank Offering Rate (LIBOR) to which many interest rate futures (often called \\u201ceurodollar futures\\u201d) are still pegged has been \\u201cdiscredited\\u201d by the schemes of banks to manipulate it (see link below on LIBOR scandal). Sandor shares his vision for the forthcoming LIBOR replacement in June 2023, and tells Jack about his company\\u2019s benchmark, AMERIBOR.\\n--\\nArticle on LIBOR scandal: https://www.investopedia.com/terms/l/libor-scandal.asp\\nMore info on Dr. Richard Sandor: https://en.wikipedia.org/wiki/Richard_L._Sandor\\n\\nFollow Dr. Richard Sandor on Twitter: https://twitter.com/drrichardsandor\\nFollow Jack Farley on Twitter: https://twitter.com/JackFarley96\\nFollow Blockworks on Twitter: https://twitter.com/Blockworks_\\n__\\nGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/\\n--\\n(00:00) Introduction\\n(00:40) Creating The World\'s First Interest Rate Future\\n(18:16) Creating A Two-Sided Market\\n(24:10) Paul Volcker\'s Role In Creating Interest Rate Volatility\\n(27:00) Eurodollars: "LIBOR Is Dead, The Emperor Has No Clothes"\\n(35:21) Replacements for LIBOR (London Interbank Offered Rate)\\n(47:44) Carbon Futures\\n--\\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.'