5min chapter

"Upstream" with Erik Torenberg cover image

E14: Balaji Srinivasan on the Fiat Crisis, Russia, and China.

"Upstream" with Erik Torenberg

CHAPTER

The Multiple Shocks That Hit the US Financial System

Every dollar holder is and everybody who uses the US financial system more broadly. Everything that is not nailed down will be pulled into this gravitational law to pay unpayable debts. The Fed stabbed through the heart basically all of these banks, then it took them a year or two and now they're falling over dead. New York Times: People are being misled about the banking crisis.

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