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Liberty and Finance
Premiered Apr 18, 2023
“We are actually staring the bankruptcy of the whole fiat currency system in the face,” says former bank director Alasdair Macleod. Depositors have been withdrawing their funds from regional banks and moving them to systemically important banks, that is, banks that are more likely to be backstopped by the government. Spooked by the recent developments in the U.S. banking system, foreigners are reconsidering their dollar exposure. “It’s not going to take much to tip an avalanche of selling against the dollar,” says Macleod.
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