Part 2/14:
The conversation turns toward the current state of the economy, with a focus on the maxed-out ammunition of central banks. Once limited by negligible interest rates, they now possess more 'bullets'—meaning they can cut rates again in future crises—thanks to aggressive quantitative easing during the COVID pandemic. The speakers highlight that, despite recent bank failures and financial instability, the core banking system remains fundamentally fragile, rooted in confidence rather than real assets.