$1.4B Fartcoin is what you get when the "risk free" asset underpinning the entire banking & currency system is a bond issued by an insolvent govt w/debt of 7x revenues, off-bal sheet liabs of 20-30x revenues, peacetime deficits of 7% of GDP, that has not run a surplus in 24 yrs🤷‍♂️
Clifford Asness
Clifford Asness20 tuntia sitten
For anyone who thinks today’s markets are just normal, I remind you that the market cap of Fartcoin is still $1.4B.
2/ "But Luke, the US government can never be insolvent, because the US can always print the money to pay the interest on its debt!" Exactly...and that is precisely why Fartcoin's market cap is $1.4B.
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