#434: Capital in the 21st Century with Allen Farrington
TFTC: A Bitcoin Podcast
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The Consequences of the Fed Raising Rates
We're beginning to see the repercussions of this, obviously, the Fed raising rates as aggressively as they had and they're not alone. Rates have been raised across the board, the ECB, the BOE. Once that cost of capital is artificially manipulated higher by the central banks, the tide comes in and they've got all this debt. And as a result, I think Germany has the highest number of bankruptcies. It's had in decades. We're at 2007 levels here in the US in terms of company bankruptcies. That's one interesting thing that companies that have been operating under the fiat standard in that framework of, yeah, we just raised more debt, juice revenues and that's
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