Anthony Pompliano

Yeah, yeah.

You know what this sounds a little bit like?

Private credit.

Sounds a little bit like private credit.

The difference is depositors can take their money out whenever they want.

And in the digital world, they can take it out quickly.

The only thing preventing private credit right now from being in this position, all these things going under, is they have gates.

If they didn't have gates, it would be under.

So every time I hear someone say, there's no problem in private credit, I'm like, there's always a problem, guys.

And the reason is this.

This is a Ponzi scheme.

This is leverage.

I'm not saying these words to be dramatic.

The fractional reserve banking system, by definition, is go back to It's a Wonderful Life.

said in plain words, but we don't have your money.

Your money's not here, it's in their home, it's in his business.

That's what it is.

You take in a dollar and you lend it out 10 times.

Okay, well, if everyone tries to come for their money at the same time, it's a problem.

So private credit may not have any disruption on the bonds.