Dana El-Kurd

It's nonsense.

It's gibberish.

They're doing fucking betting markets with the entire world economy.

Yeah, it's fun.

It's like we now have the power to do the shit that destroyed the entire world economy in 2008.

So the thing about shadow banking and the reason why it's complicated to explain is that it's a catch-all term for like a million types of institutions that do different things, right?

The commonality they have is that they're all not regulated by the banking regulations, right?

Yeah, and, you know, but the thing is, it's so embedded into the system that, like, the U.S.

debt working is dependent on the shadow banks buying it.

Well, I don't believe in that either, so I'm good.

Oh, it's so fake.

Molly, I'm not even going to attempt to explain what an overnight repo purchase is to you because...

It's the fakest thing I've ever seen where they make $1 trillion exist overnight and then it stops existing at the end of the night.

It's incredible.

Yep.

This is unfortunately what our entire world is based on.

It's so fun.

Oh, God.

Okay.

So what is actually shadow banking?