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#1206 BREAKING: Peter Schiff Is Now A Bitcoiner
The Pomp Podcast
The Banking Crisis Plays Into the Debt Crisis
The banking crisis was a byproduct of everything the Federal Reserve has done to create that crisis. The government kept interest rates for the Fed at zero for a long time, and so the only way the banks were able to generate any return was to go out long term. And another reason that banks were loaded up on treasuries and government guaranteed mortgages was because they punished them if they own anything else. So now the banks are in trouble because their customers want their money back.
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