By far my favorite quote from this month’s macro insanity was from #[0]: “banks are basically highly-leveraged bond funds with payment services attached, and we treat it as normal to keep our savings in them.”

Absolute 🔥

https://reason.com/video/2023/03/15/blame-the-government-for-the-new-banking-crisis-live-with-lyn-alden-arnold-kling-and-zach-weissmueller/