The Shadow Banking System, Uh, Is It, It Has Leverage?

The shadow banking system works on cash and t bills. It has leverage through something called rehypofication, where the same colateral gets pledged again to different parties. When fhasebook libra was announced two years ago, you saw central bankers start talking about kripto. And it wasn't because um bit coin suddenly, you know how ut a bull run. We were in the middle of a bear market. Why did central bankers started talking about cripto? It was because those were going to touch the us Dollar. So they have to deal with all of these as a aspects of it.