4min 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

The Bank Term Program, Okay?

The worst bet in the world in 2021 was betting on the long term financial health of United States of America. The worst bet in 2023 is going to be betting on the short term health of the U.S. economy. CNN's John Defterios says there are 333 community banks alone that are insolvency, which means they can't pay their depositors' money back. He says a Fed program called BTFP gives them 25 billion and then it becomes two trillion over four days. "Just of course they lie because as John Plugger said, when it gets really serious, you have to lie," defterios says.

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