#1175 Raoul Pal On Bitcoin And The 2023 Financial Crisis
The Pomp Podcast
00:00
Do You Think Rates Are Going Up or Not?
Banks were taking customer deposits and buying longer duration assets, seeking higher yield. What really happened is what nobody had on their bingo card was Russia invading Ukraine. That's what caused the next big leg up in the bond market. And that was the thing that broke the banks because they were like, we're pretty comfortable.
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