As GSIBs begin to falter given their leverage and exposure to derivatives, large depositors are looking for the exits. $128B was withdrawn to money market accounts last week, which doesn’t prevent loss of purchasing power, but slows it. There is a convergence between energy and bitcoin that is quietly growing. When banks fail energy producers will become the new banks.
Discussion
Energy based bitcoin is the most valuable proof system. Energy is like the gold stored by the central bank of Bitcoin, and it will never decouple. This is Satoshi Nakamoto's greatest design.
Both the Federal Reserve and the European Central Bank are trying to hide the deficit on their derivatives exposure. According to the available data, all the big banks were in the red during the era of high interest rates and are now vulnerable. It's just that the Fed is putting a golden shell on them that won't last long.
Winter is coming. #Bitcoin