in a debt-based system, there's always going to be someone who wants to redeem when there isn't enough liquidity, and to cover those redemptions, well more debt needs to be created, it sure is quite the clusterfuck
"So this is not a story about pension funds, it's about banks. The gilt market freeze was creating a cash collateral shortfall for pension funds, and as a result banks were at risk of serious losses on derivatives."
in a debt-based system, there's always going to be someone who wants to redeem when there isn't enough liquidity, and to cover those redemptions, well more debt needs to be created, it sure is quite the clusterfuck
100% endless cycle
"So this is not a story about pension funds, it's about banks. The gilt market freeze was creating a cash collateral shortfall for pension funds, and as a result banks were at risk of serious losses on derivatives."
Same reason as 2008
Nice article from the "infinite pizza" lady.
For reference: https://cryptonews.com/news/bitcoin-is-a-ponzi-with-infinite-supply-skeptics-chime-in-8754.htm