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#869 Money Is A Made Up Thing w/ Jacob Goldstein

The Pomp Podcast

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The Price of Nickel Is Going Through the Roof

The idea of the commodity itself could be worth more than what the actual coin asself expected was a problem for hundreds of years. The modern example i want to talk about is this idea of shadow anking. I think a lot of peul have heard that term or that phrase, but they've no clue what it means. It's kind of a regulatory arbitrage. This like doing what banks do, borrowing and lending, taking sits, lending it out. And it ends up driving the rise of finance in the like, early aughts? The housing bubble getting run on wall street; then when we have the financial crisis in two thousand eight there's these giant money market mutual funds

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