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The Lender of Last Resort (EP.300)

Animal Spirits Podcast

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What Is Fractional Reserve Banking?

This is a wild chart. This was your hedge. We're looking at the discount window borrowing. And obviously, it's spiked in 0.809. It's spiked in 2020. And it really spiked last week, much bigger than either of those two previous episodes,. which is kind of nuts. That's the lender of last resort kind of thing. So that's a big one.

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