We're doing it again. We're bailing out banks. Silicon Valley Bank and Signature Bank. Satoshi Nakamoto created Bitcoin because of exactly this reason back in 2008.
Discussion
Yet they're refusing to call it bail outs and saying they're not doing what they're doing.🤦♂️
How long before the auto industry and airline industry get in line for more government handouts? Maybe they wait for the recession to hit first? It seems like it is about time the taxpayers hand more money over to them, as well.
“After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
So if I was a depositor at SVB an I read that I’d be withdrawing everything at 9am Monday morning, and I’d be expecting everyone else to do the same. How does this statement fix anything?
They're going to print money to make sure you get your money?
Should we short $svib?
Narrative will blame crypto and push CBDC. The sheep will follow
Anyone had doubts?
Of course. It was always the plan. This time will be different though. Now we have Bitcoin.
Did you really believe that they won't bailout the banks? 😉
"strengthening public confidence in our banking system" do you think that means a fixed supply and no fractional reserve lending? Otherwise, I still don't trust it.