2min chapter

"Moment of Zen"  cover image

E14: Balaji Srinivasan on his $1M bet, Financial Crisis 2.0, Digital Devaluation of USD, and What Comes Next

"Moment of Zen"

CHAPTER

CBDC

The US banking system has already been downgraded by Moody's after the SUV collapsed, many Indians have pulled out their money to gift city. The Western world would probably be much poorer as a consequence of this because a huge dollar devaluation would mean everybody who can get out will leave. You're also also devaluing all of their bonds, but they're signing something that allows you to do it. It's not a hypothetical kind of thing. And so you can't convert out to digital currency and your savings can be wiped, your account can be frozen if you're not thinking the right things.

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