5min chapter

"Upstream" with Erik Torenberg cover image

E14: Balaji Srinivasan on the Fiat Crisis, Russia, and China.

"Upstream" with Erik Torenberg

CHAPTER

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.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode