#418: A First Principles Breakdown of the Monetary Crisis with Peter St Onge
TFTC: A Bitcoin Podcast
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The Risk of Too Big to Fail in the Financial System
When you draw a line in the financial system where you've got the guys who were going to save no matter what, and the guys who we might let die, you have set in motion. I mean, at that point, it's just a matter of time until the entire system is going to concentrate on the side that has the immunity. The banks themselves are perfectly capable of failing. This has been essentially twice now in 15 years. So the banks absolutely fail. What they mean by too big to fail is that we, the taxpayers, are going to foot the bill for now and ever. We the livestock say no thanks. And there's a point where we can't bail them out
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