On the Silicon Valley Bank and now dead Silvergate Bank situation:

- Regulators force banks to hold tons of treasuries

‐ Banks load up during zirp

- Fed prints $5T

- OMG, inflation!

- Jerome hikes at fastest pace ever

- Bonds crash

- Banks realize massive losses if depositors demand withdrawals

- Everyone blames BTC/crypto

😆

F the banks, stack sats! ⚡