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Replying to Avatar Galt 🦡

Credit Suisse is rotten to the core. Unfortunately, Switzerland isn’t letting the market do its job - it appears that the damage a collapse would cause to Brand 🇨🇭 is greater than $54bn.

Perpetual intensive care, funded by the tax payer, and new batches of executives will come and go to milk the cow.

At least they’ve granted a few banking licenses to #Bitcoin banks. #[1] it ain’t Wyoming, but they sure could use a few bankers with integrity!

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Galt 🦡 2y ago

Adjusted for population size the #CreditSuisse bailout would be $2Tn in the US. Two Trillion Dollars. For one entity. That’s the scale of this train wreck.

Luckily #Bitcoin exists. It sure feels like we’re running off the cliff.

#[2]

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