6min chapter

"Moment of Zen"  cover image

E14: Balaji Srinivasan on his $1M bet, Financial Crisis 2.0, Digital Devaluation of USD, and What Comes Next

"Moment of Zen"

CHAPTER

This Time It's Different

I agree with you on fed mismanagement of the entire rate hike inflation cycle, all the transitory that was probably political. But here's the thing where I disagree. The average person is going to be happy with whatever comes down from the feds backstop and we're going to value these treasuries at par just like they did in the global financial crisis. And as people start having even some of it hedged into Bitcoin, a feedback effect occurs and the bit signal goes up. It indicates the world that something is wrong and that the money was gone. That this gigantic printing lake that's happened over here where everything is so confusing that people are exiting to Bitcoin. Silicon Valley is ultimate

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