5min chapter

Forward Guidance cover image

Fed Downplays Bank Crisis As Another Bank Teeters | Jim Bianco

Forward Guidance

CHAPTER

The Roadmap to a Debt Ceiling

The credit default swap market isn't what you think it is for non politically charged corporations and stuff like that. If Bed Bath and Beyond, which two weeks ago, files for bankruptcy, files chapter 11, and then says that they're not going to make their debt payments, I don't need a lawyer on the determinations committee. That is an event of default. It's very simple. But when you get to nationally important banks like Deutsche Bank or countries like Greece or potentially the United States, these become highly politically charged things. The whole system grinds to a halt. Everything stops. You would be introducing in pure plumbing system into the money system because we are sending money back and forth

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