The whole address is about bankers using custodial Bitcoin as collateral for a return to fractional reserve banking, just like gold before it. The Celsius/Voyager vibes hit hard in this video: "You're earning .05% on your savings account; why not 10% per year?"

Am interested in roundtable thoughts on this from the high IQs on SN. Fractional reserve banking with any asset, whether gold or graham crackers, always ends in massive financial panics, tears, "I lost everything" stories, and people explaining "Not your keys, not your coins" over and over again...

Are we heading to another massive round of it, scaled up and even more annoying than before?