I lived through this in 2009. The institution I was at was forced to take TARP even though we tried to refuse it. We paid it back the day we were allowed it. It’s criminal.
They literally are going to hide the impaired banks from the consumers by burying them amongst healthy ones they are FORCING to get loans (for camouflage)!
~ via nostr:npub1qw6e8meaj5gzk49alamh9qf35lpmml5sq7ctjtxhcjk55qppmcjs0j2v52
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On the other hand, in an absolutely baffling 2008-esque move, Powell and the powers that be seem to want to normalize banks with impaired balance sheets; or at the very least hide them among the healthy ones.
The US is preparing a rule that would force banks to tap the Fed’s discount window for emergency loans, even if they don't need one.
...
As per usual, you don’t get access to these liquidity backstops. You will endure monetary tightening whether you like it or not, and there’s no central entity waiting at the ready to socialize your losses for you.
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https://thebitcoinlayer.substack.com/p/the-fed-is-planning-to-force-healthy
Discussion
Talking with my youngest daughter yesterday (29 yrs old), and I have to govern just how much I rail at things like this...and that they've been going down throughout history (like 2008).
She got one of her degrees in Public Health, and earnestly looks at helping humanity through that lens. But that provides some cognitive dissonance with the last 4 years and is the elephant in the room. To her credit, she never pushed against our decision to remain unvaxxed.
When it comes to financial corruption, with history repeating itself, she is more willing to listen...but still not convinced about #bitcoin because of FUD. Which is one reason why I purchased A Progressive's Case for Bitcoin...to meet where she is.
I wish BOTH of my daughters would trust me enough to at least get off zero! But as good as a relationship I have with both, sometimes the urge to "go your own way" in direct opposition of a parent's conviction can be strong.🤔
But this is a once-in-a-species opportunity to get it right.
Thanks for sharing. It’s a very fine balance between pushing away and forcing rebellion and complete, undisciplined hedonism (in the literal sense of the word). I am glad to hear it sounds like there is an open dialogue, and it sounds like she’s at least willing to listen.
It’s a sad state of affairs really. No matter how much learning and studying you do to understand #bitcoin … at the end of the day, you can lead a horse to water but you can’t make it drink.
All you can do is acquire enough bitcoin today while you still can that you can gift to your daughters later on once they are ready.