banking system
3 statements across 3 episodes · 0 bullish · 3 bearish · 1 people on the record · first statement Oct 7, 2022 by David Sacks · across every show →
Everything said about banking system, oldest first
Oct 7, 2022 negative
Mar 24, 2023 negative
Sacks: Banking system incentives encourage high-leverage gambling with depositor funds
“They're highly leveraged. The deposits, from their standpoint, are leveraged. They're leveraged 10 to one. So their incentive is to go to the casino and gamble it because they get to keep all the upside, and if they lose it, It's basically someone else on the …”
May 12, 2023 bearish
Sacks warns persistent inflation will force rate hikes and break more banks
“If inflation remains persistently high, Then the fed won't be able to lower interest rates. So they'll need to keep them elevated. They might even need to keep raising them. And if that happens, they'll continue to be incredible stress on the banking system an…”