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Balaji Srinivasan on his $1M bet, Financial Crisis 2.0, Digital Devaluation of USD, and What Comes Next

"Moment of Zen"

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Your Mental Model Is That There Will Be No More Bank Collapses

The BTFP program is now allowing basically what happened was a few of the banks now had these bank runs and BTFP as I'll show you, they have now printed like independent state levels of insane money printing to send it to the banks. But when giant runs come, they have enough money to cover their deposits. So they have just basically gone and they cause these huge losses and now they've printed those losses and they've just basically turned all of that into like liquid cash. They have massively increased the amount of liquid cash in the systems who were in end game,. How does that cash end up in the economy? In this case, Bob.

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