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52. PJ Pierre & Zed Francis - Are any banks solvent?
Mutiny Investing Podcast
The Importance of a Banking License
Zedd: The banking license gives you a so-called 'edge' that allows you to borrow money below what everybody else would pay. He says banks create their own liability when they lend, and the charter lets them issue IOUs out of thin air. "It's still a really not very good business," Zedd adds.
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