"I truly believe that asset liability mismatches cause liquidity crunches and liquidity crunches can cause credit crunches..." - Kieran Goodwin [00:28:43]

"every day you have to assume you start with a zero next to your name you're probably going to have some hurdle adversity to overcome..." - Kieran Goodwin…

"we are at the brink of a total collapse of the whole system" - Marc Friedrich [00:01:13]

"every crisis since the late 80s Greenspan started it Bernanke all of the FED chairmen did the same... they never solved the problems they're always just put money on it and pushed it in the future" - Marc Friedrich…

"Not all software is created the same. And the challenge is going to be some of the software companies that will have terminal value questions we won't see that for several years because today these credits are performing just fine." - Alex Blostein [00:03:59]

"It's credit. It's not equity. And do I think fundamentals will likely deteriorate from…

"power is what matters if you can make bullets and guns and the other side's got good arguments" - Michael Every [00:00:34]

"if we have the Titanic snap and technically it splits in two and part of the ship actually goes higher as part of sinking that's a technical irrelevance to me where the light boats is the question gold is the lifeboats" -…

"mental models are realities that when we encounter them for the first time surprise us... but when we incorporate them into how we make decisions, we'll start getting advantages versus other humans." - Mohnish Pabrai [00:01:01]

"you take a simple idea and you take it seriously... you have to go all in and if you don't go all in, then…

"First it was the Dutch Gilder then the British pound and now the world is asking if the US dollar is next." - Dr. Joeri Schasfoort [00:00:00]

"The crux of it is that money had essentially gotten too easy. This encouraged over borrowing by both the provincial governments and the East India Company." - Dr. Joeri Schasfoort…

"we're not making any excuses we're not trying to blame anyone or anything blame me if you want to blame anyone" - Terry Smith [00:03:25]

"if you do 22% who cares what the market does" - Terry Smith [00:02:55]

"when you took your money out of us and the dollar went into Nvidia the…

"I think the market is already somewhat defensively positioned. And I think positioning is more conservative, but the market is fragile." - John Storey [00:00:26]

"If you look at our gross market value in prime, and look at our short macro products, it's the highest level we've seen on the short side since September 2023." - John Storey…

"Beneath the surface, the sector moves have been brutal. We're seeing sharp rotations as investors rapidly have to reprice global risk." - Alex Olman [00:00:51]

"I can sell as much Nvidia as I want and I can buy very, very little of a lot of overseas companies. That liquidity mismatch works in both directions." - Alex Olman…

"If governments wanted to go to gold they already could... the only thing that matters is the capital stack of fiat." - Brent Johnson [00:18:15]

"Gold is the natural historical hedge against... credit excess that may be used to finance wars that are destructive of the capital stock." - John Butler…

"Money is debt. Banks create money, and that includes the Bank of England doing so for the government." - Richard J. Murphy (Defining the fundamental nature of currency) [00:00:19](https://www.youtube.com/watch?v=vPKLgUDgnH0&t=0h0m19s)

"Money is not an object; money is always a promise to pay. That's all it is." - Richard J. Murphy (On the immateriality of money)…