The Fed Markdown and the Currency Crisis

The system has intentionally disabled everything that could give a short term negative feedback. The mortgages are rated AAA. The bonds that the Fed markdown are now being bought at par with BTFP. All of this type of stuff, literally, you know, the crime rates in SF are low. So this stuff is just totally totally fit. It's Soviet,. you know, it's really Soviet. And so you combine that with a foreign environment, which where all the stuff that's built. China can scale factories and they can launch currencies. They've got the digital yuan. They're walking on their own hind legs. In fact, the dollar is technologically obsolete two to three years from now.

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