David Sacks

We will throw our hands in the air and we will scream wee as we go for the ride.

We will throw our hands in the air and we will scream wee as we go for the ride.

Global debt to GDP is 310%.

Global debt to GDP is 310%.

reserve currency status to the side, the spending problem at the federal, state, local level, the spending problem at every country to basically keep economies growing to support existing leverage ultimately creates a cascading effect

reserve currency status to the side, the spending problem at the federal, state, local level, the spending problem at every country to basically keep economies growing to support existing leverage ultimately creates a cascading effect

it ultimately breaks.

it ultimately breaks.

And as it starts to break, you have massive inflation, because the value of your underlying currency collapses, and then you have money printing and all this other sort of stuff, which inflates the value of assets, which allows you to keep servicing your debt, and the spiral takes off.

And as it starts to break, you have massive inflation, because the value of your underlying currency collapses, and then you have money printing and all this other sort of stuff, which inflates the value of assets, which allows you to keep servicing your debt, and the spiral takes off.

And so we will just enjoy the ride.

And so we will just enjoy the ride.

This is the moment, you know, 30 year Treasury 5.2%, this Japanese yield

This is the moment, you know, 30 year Treasury 5.2%, this Japanese yield

Some argue you should talk to more active market participants than me and probably some economists who trade the market, but I would think that this is one of those things that could be a catalyst for a credit crisis because there's a lot of people that are in this carry trade.

Some argue you should talk to more active market participants than me and probably some economists who trade the market, but I would think that this is one of those things that could be a catalyst for a credit crisis because there's a lot of people that are in this carry trade.

And we'll see.

And we'll see.

Okay.

Okay.