Discussion
I suppose we don't talk about how the UK almost blew up on Sept. 28 - because of leveraged bond funds....
UK blew up when liquidity was pulled down to the red line. That's also when the dollar index topped.
Then domestic and global liquidity started going sideways for a while. As we flirted with the red line again, more stuff broke.
Realistic to think that a small percentage of mass withdrawals at other regional backs will leak into the Bitcoin market? Spike in self-custody BTC at the same time?
I agree, it will be interesting to see what more breaks, when dollar goes on another rally. Who this time will be caught with their pants down. Whatever the case it will make for some nice volatility in FX markets, which always causes nations to act.
Not only banks.. the whole financial industry.. it’s a big fucking « regulated » ponzi that now is starting to unravle. Risk halpens fast.
yes!
Borrow funds due immediately and make loans for years or decades
Insolvency IS the business model
Lyn, what I wrote yesterday in 280 chars, you wrote in 1 meme. Well done!! Seems absolutely accurate!
Return-free risk.
THE NOSTR REPORT
#BANKINGBAD
Mar 12, 2023
Block Height: 780,536
Moscow Time:45:68 ⚡/ $
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🎙️Quote of the Day🎙️
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#[1] “Just don’t fucking dance.”
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🚨Headline Nostr News🚨
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This joint statement by the Treasury, the Fed, and FDIC puts in words what Bitcoiners have known all along…There is no way out of this mess without printing more money. The statement reads, “We are taking decisive actions to protect the U.S. economy…[This] will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit.” First it was Silicon Valley Bank, and just a few hours ago Signature Bank was forced to close due to “similar systemic risk.” We all know that there is not enough money in the FDIC to back all the depositors, so the money will have to come from somewhere, meaning it will come from the purchasing power of the fiat money that the average Joe has saved. This is why we HODL, this is why we DCA, this is why we BUIDL. As #[3] says, stay humble, stack sats. https://home.treasury.gov/news/press-releases/jy1337
#[4] another 🏦bank 🪣bailout, US discusses “special vehicle” fund to backstop deposits if more banks fail.
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#[6] presents the idea of Lightning Prisms, along with a proof of concept, as a way to use the ⚡lightning⚡ network for automated values-splits.
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#[8] notes that “People mostly Nostr while at work”. “If people were inspired by their work or properly remunerated for it rather than being wage-slaves to the corrupt 💵fiat system I bet I'd see the opposite effect in the numbers.”🎯
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🏝️Nostrica Update🏝️
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#[10] Surfing 🏄♂️and Jiu Jitsu 🥋class signups posted!
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💻nostr Tech💻
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#[13] 🚨Some relays may not refresh profile data very often and as such you may find your zaps going to an older wallet if you have recently switched wallets. Keep a backup of your old wallets!!🚨
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#[15] adds updates to https://nostrit.com (the IFTTT of nostr posts). Now you can create 🥩raw🥩 events without scheduling, and a lower price of exact-date events to 1k sats.
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#[17] lists Nostr ✍️signing✍️ extensions to help store your nsec locally and avoid exposing it to web clients.
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#[19] Pablo announces that he released a new instance of 🔫Blastr!🔫 wss://blastr.f7z.xyz
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#[21] provides a useful tip on how to restore your follow list on nostrgram.
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⚡nostr Business⚡
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#[23] Forbes: SVB Financial CEO sells 😲$3.6 million😲 in stock before bank’s collapse.
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🔥🔥Meme of the Day🔥🔥
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#[25] Banks vs highly leveraged bond funds
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Stay Classy Nostr.