Emergency Episode: Why This Financial Crisis Is Worse Than 2008 | Balaji Srinivasan Pt 2 (Fan Fav)

What is up guys? We are continuing with part two of this incredible three part episode with Balaji Srinivasan. If you don't know him, this guy is guaranteed to stretch the limits of your thinking. He is an incredible thinker, an incredible entrepreneur, and one of the brightest minds talking in economics today. And in this episode, we're exploring the growing political divide, China's influence, and the far reaching impact of the potential economic instability coming. He thinks it's gonna be worse than 2008. It's bananas. One of the things that we tackle is are we witnessing the emergence of a new global superpower while the American empire fails or is this just the tip of an even far larger iceberg? Stay tuned for more and make sure you're subscribed to Impact Theory on Amazon Music so you do not miss the upcoming finale of this mind blowing episode with Balaji Srinivasan. Part three of this bad boy is coming up. So go subscribe right now. I'm Tom Bilyeu and welcome to Impact Theory. Before we move on, I think this is very important. So, Chamath Palihapitiya Palihapitiya, sorry. So I don't wanna misrepresent his views, but he is I think he's incredibly bright. And, he has said many times and, Chamath, forgive me if I'm getting your, your idea wrong here. But, basically, that the debt to GDP ratio is a big nothing burger, and everybody gets their pennies in a twist as that number gets, bigger and, you know, we've got multiples of GDP and debt. And he's like, nothing's ever gonna happen. It doesn't matter. There is no upper bound. What do you say to that? Is is there a breaking point, or can we actually just keep printing money basically forever? Well, you know, Chamath is a, you know, is a colleague and coinvestor, and I've been on all in a bit, and I think we have a cordial relationship. Chamath has also said, put 1% of your assets in Bitcoin just in case. Because if everything else goes to zero, then, you know what? Like, they can't dilute that. So, you know, if you if you asked him I don't know where he is at numerically on that, but he probably I don't know if he'd say it. There's a 100% probability of no devaluation. He's he's a sophisticated investor. He probably hedges. So that's that's the first counterargument. Many people I mean, it's a it's a point about not seeing something in one's life. I mean, let me make the point in somewhat different way. Most of the twentieth century, most people in the twentieth century saw an economic apocalypse of some kind. It was communism in Russia, in Eastern Europe, in Vietnam, in Korea, in Cuba. Right? It was Islamic fundamentalism in, for example, Iran. That was also asset seizures happened there. That's actually why a lot of Persian people made their way to LA. A lot of the entrepreneurial class, their assets …