The Fragility of Financial Trust

This chapter explores the critical role of trust in the banking system, drawing on historical events like the 2008 financial crisis and the Great Depression. It examines the potential consequences of a banking collapse, including widespread economic instability and social unrest, while highlighting the psychological nature of money and the importance of public confidence. The discussion also reflects on the shifting dynamics in global finance, particularly the growing skepticism towards the U.S. financial system among key investors and nations.