MacroVoices #375 Mike Green: Banking Crisis, Debt Ceiling, De-dollarization and more
Macro Voices
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The De-Dollarization Trend
If there is a technical default, the answer has two separate components to it. There are unquestionably individuals who will encounter stress because their Social Security check doesn't clear or isn't received. That in turn creates a ripple of liquidity through the system that causes very unpredictable results. A premium suddenly gets placed on holding cash to meet obligations.
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