4 Comments

I have never seen it in print, but Iknow it's true. All debt must be repaid, repudiated, or refinanced. You and Michael Burry and Jamie Dimon and the Vampire squid and I all know this. But Ithink the thought is getting around. Repaying is impossible, refinancing is stopping, so that leaves repudiation. What a mess.

Expand full comment
Comment deleted
Sep 16, 2023
Comment deleted
Expand full comment

How do you think that will play out?

Expand full comment
Comment deleted
Sep 23, 2023
Comment deleted
Expand full comment

I think the next big change will introduce the CDC too. Because the problem will be global, it will also tend to pull CBD seeds together in global cooperation. Maybe a single unit or a very integrated conglomeration.

Expand full comment
Comment deleted
Sep 23, 2023
Comment deleted
Expand full comment

I made my last comment from my phone where auto text mutilates every message; so, of course, that was supposed to be "CBDCs" and not "CBD seeds." The latter almost sounds like some kind of cannabis growing operation.

As for the BIS, I believe they are working in cooperation with the World Bank, International Monetary Fund and ECB to create a global platform. I wrote about the role of those organizations in developing a global platform in a recent "Deeper Dive."

Expand full comment