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2min chapter
Worldwide Debt Spiral with James Lavish (WiM294)
The "What is Money?" Show
The Fed's Exotic Strategy to Shore Up Their Returns
The Fed is pushing large capital pools further out along the risk curve because of what exactly? The money is being debased. So that LDI, I guess we'd call that an exotic strategy, right, intended to shore up their returns to where they needed to be to meet these defined obligations. And it's this happens for all like, I don't like actors, but even at this level. It's a symptom of fiat though, right? That you're pushing these large capital pools closer and farther apart from each other.
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