86. Layered Money with Nik Bhatia
The Bitcoin Standard Podcast
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The Federal Reserves' Socialization of Bank Losses
The double engi accounting system allows them to create money out of thin air, issue deposits and then mark alon on their assetside nd. As long as you've got some kind of mechanism of e preventing people from cashing out their a lower teared money for higher money than you can knock yourself out. And ife, you know, there's a default, because you've over leveraged a the losses get socialized. You know, that's been the case for quite some time now in the us. The federal reserves official policy is to socialize every banking loss that can be imaginable.
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