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4min chapter
A Global Currency Collapse in 2023? with Lynette Zang (WiM312)
The "What is Money?" Show
The Transition From LIBOR to SOFR
On June 30, LIBOR will no longer be published. Now they have to create a synthetic one because it isn't working so easily. This benchmark needs to be quote unquote, market rate, except when you read the fine print. So this is based upon actual bond trading, except that it doesn't include this bond or this bond, or this bond,. It's garbage. But all the mortgages, all the credit cards, all card loans, student loans, etc., are now at risk. And we've got to talk about it. I know I'm sorry. No, it's heavy stuff. Right. The Fed actually controls SOFR. That's been pretty much the benchmark
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