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Podcast: ITM Trading Podcast
Episode: Fed’s $2T Bailout is Prepped - Banks Will Echo WW2 Era
Description: “It ends with the banks looking like they did at the end of World War II... half of their book was government bonds,” says R. Christopher Whalen, investment banker and author. In a conversation with Daniela Cambone, he breaks down the systemic risks emerging in the treasury market. “Today the treasury market is basically a carry trade with a lot of hedge funds using 100 to 1 leverage. That’s the market for treasury debt,” he explains, pointing to the fragility of the current system. Whalen also argues that the Bretton Woods framework has eroded and that the dollar’s dominance is waning. “...