“The other thing that I think happens along the way here is…” — Cato Audio at 23:06
“The other thing that I think happens along the way here is this whole episode has put a spotlight on, I think, an intrinsic instability of a fractional reserve banking system. It works fine as long as it works. The fact is, there's no bank that can survive a run. It doesn't matter how well capitalized, how liquid…”
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