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TIP507: Market Indicators, CBDC's and Real Estate w/ Joe Brown
We Study Billionaires - The Investor’s Podcast Network
The FTX Saga - What Does That Say About Our Own Fractional Reserve Banking?
FTX created a token out of thin air that they were using as collateral. What happened is there was almost like a bank run, right? They're just selling off this token and then everything collapsed from there. But what does that say about our own fractional reserve banking system? I mean, are there any other risks or lessons to be learned from that?Yeah, you're 100% right. This is identical to the thing that has always been done throughout history, but governments don't like competition. And so when you start to run your own Ponzi scheme, they want to put you out of business because they want to have a monopoly on writing the money Ponzi schemes
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