Can’t watch the clip right now, does Saif factor in the impact of deflation in fiat though?
I mean, the system can’t handle deflation. I can see how it would have a deflationary effect on bonds but then I’d just expect the Fed balance sheet to absorb more, much like BOJ has so it doesn’t come apart at the seams.
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Watch it when you can. “The system can’t handle deflation” may be a psyop. One of those mantras we just say. Lots of debt jubilees throughout history. Or yea, each central bank becomes the sole buyer and owner of its countries bonds, then boom, like John Law’s bank.