Part 13/15:
Greg discussed the possibility that the Fed's 'put'—the market's safety net—may be diminishing. Historically, a 20% drop in equities would trigger Fed easing, but now, even a 10% decline might prompt new rounds of quantitative easing, further weakening the dollar and fueling inflation.
Larry noted that the entire international financial system may be nearing a 'point of no return.' Currency failures and sovereign defaults are increasingly probable, and the only viable 'escape valve' is shifting value into assets outside the fiat system, notably Bitcoin.