The "What is Money?" Show The $1M Bitcoin Bet with Balaji Srinivasan and Alex Gladstein (WiM289)
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Mar 21, 2023 
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Banking System Insolvency
- The banking system, including central banks, regulators, and banks themselves, have been aware of widespread insolvency.
- They have hidden this using opaque language and accounting tricks, similar to the 2008 mortgage crisis.
Fed's Role in Bank Insolvency
- The Federal Reserve induced banks to purchase large quantities of bonds, then devalued those bonds by raising interest rates.
- This left banks with significant unrealized losses, contributing to their insolvency.
Bitcoin's Value Proposition
- Recognize Bitcoin's unique value as a digital asset without counterparty risk.
- Consider this a potential trigger moment for wider market understanding of Bitcoin.