Part 5/10:
Kaiser expressed concerns about the fragility of the global banking system, especially referencing the implications of the yen carry trade. He conveyed that the current financial structures are built on layers of debt, exacerbated by low-interest rates and central banks' need to continually inject capital. The systemic risks are intensifying to a point where a choice must be made: either print trillions to prop up failing banks or risk social unrest and economic collapse.