As emerging market currencies tumble as the US Federal Reserve bank attempts to unwind its Quantitative Easing program with higher rates, what's in store for Argentina as it goes to the IMF only a few short years after exiting its last IMF default. Mitch Feierstein tells Double Down that the fact that Argentina's 100-year bond offering earlier this year was oversubscribed shows that investors have FOMO — fear of missing out — and will, therefore, buy into any irrational bubble. Feierstein says that the 2008 crisis was caused by "too much debt, too much credit, and too much leverage" and that global central banks have tried to fix the problem with adding more debt, more credit, and more leverage. When this next bubble collapses and we are all Argentina, will sanctioned deposit confiscations be the response? Tune into Double Down to hear the answer.
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