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6min chapter
WiM026 - Money Hierarchies with Nik Bhatia
The "What is Money?" Show
What Happened in the Great Financial Crash?
The price of libor separated from the price of onshore deposits in august two thousand and seven. That broke the system forever, because it showed that a half the system is built on a mirage. And so no, there's nothing different about the pandemic panic, because the solutions were the same. The only thing central bank digital currencies can do is let their currency trade against bit coin - otherwise they will not give it a price at all.
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