The Fed's Decision to Create an Infinite Money Machine

The Fed has decided to create an infinite, uh, an infinite put. And so there's no incentive for any large player to deploy their capital anywhere else. So anything you do wrong will be bailed out and anytime you profit, you privatize that you're gained. The risk of the system builds up exponentially until it blows up again. In 1998, there was a hedge fund called long-term capital management which basically, they took an army of PhDs. They had two Nobel Nobel prize winners,. They built these quantitative bond trading models.