Part 5/14:
Assets become illiquid, prices plummet not because they are overvalued but because there's insufficient money to facilitate transactions.
Can induce deflation, economic stagnation, and a systemic depression.
The 2008 crisis was less about subprime mortgages on their own and more about widespread liquidity shortages in the global Eurodollar system—a network of dollar-denominated assets and liabilities outside the direct control of any single nation or central bank.