The Banking Crisis and Crypto with Art Laffer
FYI - For Your Innovation
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The Credit-Default Swaps Inverted Yield Curve and the Banking Crisis
I think all of those variables, the credit-default swaps inverted yield curve, were pointing to two mistakes, two mistaken assumptions in the banking system. They made the assumption that we're probably going to be fighting a depression here. And surely interest rates are not going up anytime soon. The second big mistake that Silicon Valley and these other banks made is that deposits would not go down. So deposits are leaving the system, interest rates up 20-fold in one year. I've likened it to the Richter scale. Back then, if you look at 4% over 15, that's 6.5 on a Richter scale in terms of earthquake. If you look at 1% on 4
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