#425: Fiat Crisis with Balaji Srinivasan
TFTC: A Bitcoin Podcast
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The Fed's Attempt to Keep the VIX in Range
Just like mortgages were faked AAA the u.s. government debt was fake AAA and the s&p downgraded in the last debt debt ceiling debacle in 2011 to I think like double A or something like that it's still double A. If those agencies could actually give freely-flowing ratings to the USA they would have downgraded its debt but they can't because there's a gun to their head you know. This is true not just for mortgages not just for US sovereign debt it's true for the assets that the Fed bought back at a hundred cents on the dollar whether it was mortgage backed securities that they were purchasing after the financial crisis. It's true for stocks that they're pro
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