SLP467 An Unsustainable Fiscal Path with James Lavish
Stephan Livera Podcast
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The Confidence Game
US dollars and US treasuries are treated as a reserve asset around the world. If you have a lot of bag holders, you can print more than you otherwise would have been able to. And it's unfortunate because a lot of people today don't have savings. A lot of them think of bonds as the safe thing to hold. They just see it like, oh, I just keep it in bonds. But they haven't stopped to think about the broader implications of this system.
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